Demonetisation shaved off 150 to 250 basis points in terms of growth across all sub segments of the media and entertainment (M&E) industry at the of 2016, according to a report.
The Indian M&E industry grew at 9.1% to Rs 1,26,210 crore on the back of advertising growth of 11.2%. This was aided by strong fundamentals and a steady growth in consumption, according to the FICCI-KPMG Media and Entertainment Report 2017.
While the TV industry grew 8.5% to Rs 58,830 crore, print media industry grew 7% to Rs 30,330 crore in 2016. Revenues from the digital advertising segment grew 28% to Rs 7,690 crore, while the animation and VFX segment saw 16.4% growth to Rs 5,950 crore.
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