Media industry to grow by 65% in H2 of '09

“Our detailed forecast for the July-December period shows that while the media industry earned only Rs 7,452 crore in the first-half, we estimate the industry to net Rs 12,325 crore in the second-half,” Madison Media Chairman Sam Balsara said, releasing the mid-term review of Pitch Madison Media Advertising Outlook 2009.

The media industry garnered just Rs 7,452 crore in the first half of 2009, which was a whopping Rs 1,414 crore less than what it mopped up in the same period last year, the review said.

Though the impact of a looming drought remains very alive, on the macro-front there are many positive signs with the economy showing clear signs of pulling out of the morass, the review said.

All leading corporate houses have reported better-than-expected profits in the April-June quarter.