NEW YORK: Time Warner's Turner Broadcasting reports that India ousted Japan as its prime Asia-Pacific market in this year's first quarter, with annual revenues projected to grow at between 25%-28%.
Turner, whose online properties include CNN.com, CNNMoney.com, TCM.com, CartoonNetwork.com and many others, last week launched two initiatives in India – a production unit for animated feature films and an entertainment channel with sister company, Warner Brothers.
Says Turner International Asia Pacific president Steve Marcopoto: "The company recognises that there's real opportunity to expand overseas so a marketplace like India, where we've had a great run so far and are well-positioned, is a natural."
According to a recent PricewaterhouseCoopers report, India's once fragmented entertainment and media industry last year attracted record foreign investments and posted a record Rs512.6 billion ($12.8bn; €8.10bn; £6.50bn) in sales, up year-on-year by 17%.
Data sourced from Financial Times; additional content by WARC staff