Highlights:

• A report by PriceWaterHouseCoopers (PWC) projects Indian media sector as the fastest-growing territory in Asia during the next five years

• Indian Brand Equity Foundation (IBEF) says in the last three years, US$ 88 million of foreign direct investment (FDI) has flowed into the sector

• NASSCOM says the animation industry is growing at 25 per cent CAGR and is expected to reach US$ 869 million by 2010

The Indian media and entertainment sector, considered to be one of the important markets in the world, is growing at a decent clip. In 2008 and 2009, many leading media brands like Forbes and ET Now have been launched, adding to vibrancy in the sector.

The Global Entertainment and Media Outlook 2008-2012 report by PriceWaterHouseCoopers (PWC) projects India as the fastest-growing territory in Asia during the next five years with a potential to grow at a CAGR of 18.5 per cent against 6.6 per cent globally. By then it is expected to be worth around US$ 36.331 million in volume.

With a compound annual growth rate (CAGR) of 18.5 per cent, the Indian entertainment and media industry is the fastest growing in the Asia-Pacific, says the study.

According to the Indian Brand Equity Foundation (IBEF), "International media giants are all vying for a stake in the segment. In the last three years, US$ 88 million of foreign direct investment (FDI) has flowed into the sector and in 2006, 13 FDI proposals were approved by the Government… The sector’s growth is being propelled by a number of factors such as the corporatization of the film industry, a booming television sector, a fast growing radio sector, a growing market for print products and other technological changes. India is ready to embrace and grow along with the changes the industry is undergoing globally."

A lot of new trends are emerging in the market. Take the case of the corporatization of the film industry, mostly notably Bollywood that produces the maximum number of films in the world as a segment by itself. Or take the case of the online media sector that has taken off big time in India. With the easy availability of high-speed Internet and Broadband, everyone is logging on to the World Wide Web! At the same time, the good old traditional print medium is witnessing unprecedented growth – unlike in the more evolved, Western markets, where is it on a downswing.

The television industry in India has over 350 channels and is today the third largest television market in the world. It reaches over 119 million television households (almost the same size as the entire US market), although it covers only about 60 per cent of total households in the country.

Animation and Special Effects (VFX) businesses are also waiting to grow in India. According to the National Association of Software and Services Companies (NASSCOM), the animation industry is growing at 25 per cent CAGR and is expected to reach US$ 869 million by 2010.

So, is the media and entertainment sector a good place to consider as a career? You bet! There are a great many jobs, and opportunities for growth are immense. Here’s a list of jobs you can take up if you want to give this sector a shot:

• Marketing & Branding executives
• Ad Sales & Business Development Executives
• Editors/Reporters/Journalists
• Promoting & Event managers

Pay packages vary from company to company. Then, you grow on the job, learning new things while gaining valuable experience.

Most organizations hire young MBAs as business development executives who represent the company and seek advertisements from advertising agencies or clients.

Now, we look at some of the main players in the sector.