NEW DELHI: The Indian film and television industries have both been predicted to experience substantial increases in their revenues in the next five years.
PricewaterhouseCoopers, the consultancy, produced the Economic Contribution of Indian Film and Television Industry report for the Motion Picture Distributors Association of India, the trade body.
It aimed to assess the current and future "direct, indirect and induced economic contribution" of the movie and TV sectors in the fast-growing market.
Overall, PwC estimated that these two forms of media add $6.2 billion (€4.6bn; £4.1bn) to the country's gross domestic product each year at present, as well as supporting 1.8 million jobs.
More specifically, these channels posted combined revenues of $7.7bn in 2008, and this figure is likely to climb by 11% each year for the next half-decade, to $13bn.
Television, which is due to record a compound annual growth rate of 11.4% over this period, will generate more than 70% of this total.
"The film and television industry in India is one of the world's largest markets in terms of number of consumers and offers significant growth potential," said Hugh Stephens, svp, international relations and strategic policy, Asia Pacific, at Time Warner.
"Over the past few years the industry has experienced rapid double-digit growth and it is expected that this trend will continue in future, resulting in increasing contribution to the Indian economy," he added.
As previously reported, KPMG and FICCI have forecast that advertising expenditure levels in India will improve by 14% annually between 2010 and 2014.
Data sourced from Motion Picture Distributors Association of India; additional content by Warc staff