Entertainment Industry in India comprises of Film Industry and
Television Industry. The Indian entertainment industry is among the
fastest growing sectors in the country. In the past two decades
entertainment industry in India has witnessed explosive growth. In
television alone, from a single state owned television network,
Doordarshan in 1991, today there are over 300 national, regional and
local channels being beamed across the country. Indian film industry is
the largest film industry in the world, producing on an average, close
to a thousand films a year in all languages. In terms of film production
India exceeds Hollywood's production volume by over three times. Some of
the fastest growing segments in the Indian entertainment industry
include music, cable and satellite television, animation and FM.
According to an estimate by FICCI and Ernst and Young Indian
entertainment industry would worth more than Rs. 400,000 million in
2008. Several positive developments like the accordance of the
'industry' status to the film industry, satellite channel penetration,
the retail boom in the channels for music sales (Music World &
Planet M), the use of digital technology in all spheres of entertainment
and the growth of multiplexes have contributed to the growth of this
sector.
Entertainment industry in India is presently in a consolidation phase
as boundary lines between films, music and television are fast
disappearing. Skills and resources are being pooled extensively. Besides
adaptation to high-end digital technology, the entertainment industry is
also witnessing rapid development of state-of-the-art studios and post
production facilities.
In terms of employment, an estimated 6 million people earn their
livelihood from the entertainment industry and this number is all set to
grow. Entertainment industry in India is projected to be one of the
major economic driving forces of the country. In India, television is
the major segment of entertainment industry. Presently, India has the
third largest television market in the world behind only china and the
USA. Today, television reaches about hundred million Indian households.
India has the world's biggest movie industry in terms of the number of
movies produced. Presently, the technology of film-making in India is
perhaps the best among all developing countries. Indian film industry is
now increasingly getting professional and a lot of production houses
such as Yash Raj Productions, Dharma Productions, Mukta Arts etc. are
now working on corporate lines.
The popularity of Indian entertainment industry goes well beyond the
geographical frontiers of the country. Indian television channels and
films are viewed and enjoyed across the entire South Asia. Across the
Middle East, parts of South East Asia and Africa, large expatriate
populations ensure that Indian TV channels and films are a regular part
of their entertainment bouquet. In UK and North America (USA and
Canada), Indian TV channels and films are increasingly finding a
foothold beyond the expatriate pockets as the audience there has started
to enjoy and identify with the contemporary Indian culture. Quite a few
of Indian filmstars are also getting good offers from Hollywood.
The future prospects of Indian entertainment industry look to be
extremely good. As India's profile rises on the global stage outside
interest in India's culture and entertainment industry is also bound to
grow.
Note: The above information was last updated on 21-07-2007
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