The Indian media and entertainment (M&E) industry is likely to touch USD 45.1 billion by 2021, growing at a CAGR of 10.5%, said a PricewaterhouseCoopers (PwC) report named Global Entertainment & Media Outlook 2017-21.
The report covering 17 M&E segments across 54 nations also forecasted the global industry to expand at a Current compounded annual growth rate (CAGR) of 4.2%.
Growth for digital advertising and television advertising in India is forecasted to expand at a CAGR of 18.6% and 11.1%, respectively during the forecasted period 2017 to 2021.
The report also stated that the Indian film industry is likely to witness a solid growth to place itself as the third largest film industry, after the US and China by 2021.
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