Entertainments industry on a global scale employs a large number of people and is also major revenue grosser. USA and India in particular possess a thriving entertainment industry. Piracy poses a major threat to global entertainment industry. Digitalization is future of global entertainment industry.
Entertainments industry US vs. Japan
Entertainment industry comprises television industry, print media, filmed entertainment, radio, music and advertising. It has of late become an attractive investment option for investors. Japan has slowly but steadily become a major player in global entertainment industry via its expertise in digital entertainment options. Japan is a force to reckon with in digital media. In film business however US still has a lead over Japan with a production of around 800 films annually as opposed to a less than 300 figure for Japan per year. Japan has marked expertise in use of animation and interactive digital gaming and multimedia operations.
Indian entertainment industry
As per a March 2008 report, India’s entertainment and media industry has recorded a robust growth in recent years. In 2007 this industry was way ahead in performance in comparison to a whole lot of other domestic industries. It recorded a 17% growth in 2007 with an estimated volume of Rs 513 billion. Comparable figure was Rs 438 billion in previous year. This industry attracted a substantial volume of foreign investment amounting to Rs 8.5 billion in concerned reference period. Indian entertainment industry is estimated to reach a targeted Rs 1.157 trillion by year 2012. This overall robust performance of the industry has been spearheaded by performance of Indian advertising industry, which contributed around Rs 196 billion in year 2007. Comparable figure for this in preceding year was Rs 161 billion. In 2004-2007 phase Indian advertising industry recorded an overall cumulative growth rate of around 20%.
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