NEW DELHI: Emerging as one of the fastest growing sectors in the country, the entertainment industry is likely to attract investments worth Rs.3,450 crore over the next three to four years.
Remaining immune to economic slowdown, the industry has also emerged as the best paymaster and highest spender on advertisement.
The Rs.12,530-crore entertainment industry has sustained lucrative profit growth track record and has registered 39 per cent growth in revenues in the last three years, even surpassing the service sector’s 17 per cent growth rate, says the latest report of the Associated Chambers of Commerce and Industry of India (Assocham).
“While for the overall industry, the employee compensation rose by average 25 per cent during the last two years, wages in entertainment industry have risen by as much as 40 per cent,” says Assocham’s study titled “India Entertainment Sector-A Financial Stock-Taking.”
“The sector is spending 40 per cent higher on salaries from the last two years, which is the highest amongst all sectors,” says Assocham president Sajjan Jindal.
The entertainment sector has also left behind all other sectors in advertising spend, which accounts for 4.1 per cent of its total expenditure.