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Cinema

The year 2003 brought good tidings for the Indian film industry.

• Five films crossed the $2-million mark in gross collections from the US and UK. In the domestic arena, 16 films grossed more than Rs 10 crores ($2.1 million) compared to 13 in the previous year.
• The sector is expected to cross the Rs 20,000-crore ($4.3 billion) mark in 2004, according to a report prepared by the Confederation of Indian Industry (CII). It is set to have a 20 per cent growth in 2004, up from 15 per cent in 2003 and is likely to maintain this rate till 2007.
• The main drivers for growth are the rise in movie multiplexes, advent of digital technology and corporatisation of the sector with producers adopting a more structured approach to film production.

Television

• From having only one public service broadcaster to the 300 channels available now, Indian television has come a long way.
• India has the third largest television market in the world after China and the US. There are 85 million television households in the country of which 44 million receive cable television services.
• CII estimates suggest that the industry had a turnover of Rs 16,600 crore ($3.6 billion) in '02 which grew to Rs 19,000 crore ($4.1 billion) in 2003.
• The FICCI-E&Y report says television revenues are expected to grow at a CAGR of 17 per cent to gross Rs 28,852 crores ($6,411 million) by 2008.

Music

Revenues from the Indian music industry for 2003 are estimated at Rs 1,040 crores ($230 million), the FICCI-E&Y report said. The industry is expected to grow to Rs 1,217 crores ($270 mn) by 2008.

Indian music is going places. Nightclubs in the US have begun using tabla rhythms and rappers are tapping to Indian music. Consider some instances:

• Producer Panjabi MC has teamed up with rapper Jay-Z. U.K.-based Panjabi, who launched the first crossover Bhangra hit, "Beware of the Boys", became the first Indian ever to make it to the Billboard 100 singles chart in 2003.
• Missy Elliott has sampled Indian elements in her music.
• The summer hit "Move your body" has a Bhangra flavour.

According to well known New York DJ Rekha Indian music is popular "because it's very danceable. People like good dance music."

Radio

• FM radio is a fledgling industry in India and has enormous opportunities for growth. In 2003, the ad-spend on radio was about Rs 180 crores ($40 mn), which was less than 2 per cent of the total ad spend -- Rs 9,600 crores ($2,133 mn) -- in India.
• Radio revenues are expected to rise to Rs 689 crores ($150 million) (at a CAGR of 30 per cent) by 2008.
• The sector's potential is huge. The Indian radio network covers 97 per cent of the country's population through 24 languages and 146 dialects.

Print media

According to a PricewaterhouseCoopers' study, Global Entertainment & Media Outlook 2004-2008, the Indian newspaper market will grow from $1,869 million in 2004 to $2,404 million in 2008 at a CAGR of 6.9 per cent.

The government had changed its media policy in 2002 and relaxed foreign ownership restrictions in the newspaper category. Today, 26 per cent foreign equity holding in news-related print media is allowed, though editorial management must remain Indian.

After the policy was put in place,

• UK's The Financial Times has acquired a stake in Business Standard.
• Dow Jones is expected to own a 26 per cent stake in The Wall Street Journal venture in India.
• Henderson Global has acquired a 20 per cent stake in Hindustan Times.

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