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India Equity Research Reports, IPO and Stock News
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Most industry players upbeat and expect better growth rate this year against last year.
Sector showed good recovery in 2010, growing at 11.0%, up from 1.4% in 2009.
Sector likely to grow at 14% CAGR over the next five years.
Television: Ad and subscription revenues expected to post 16% CAGR over the next five years.
TV households to expand to ~156 mn by 2015, up from 58% to 61% of total households. DTH will
be the dominant driver for digitisation; DTH ARPU to increase to INR 253 in 2015.
Print: Revenues to post 10% CAGR over the next five years. Hindi print ad market to grow at 1.5x
the rate of English. Circulation revenues to virtually remain flat.
Radio: Revenues to post 20% CAGR, faster than both TV and print, aided by increasing
acceptability of radio among advertisers and expansion from phase III.
Outdoor: Revenues to post 12% CAGR with improvement in infrastructure.
Digital: Fastest growth at 28% CAGR, propelled by increase in broadband and 3G usage.
Films: Better movie pipeline and growth in multiplexes to drive growth at 10% CAGR.
Slow rate of reforms is the key area of concern.
Top picks: Dish TV, Jagran Prakashan, IBN18. We are also positive on other Hindi print
and radio players like ENIL.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
Most industry players upbeat and expect better growth rate this year against last year.
Sector showed good recovery in 2010, growing at 11.0%, up from 1.4% in 2009.
Sector likely to grow at 14% CAGR over the next five years.
Television: Ad and subscription revenues expected to post 16% CAGR over the next five years.
TV households to expand to ~156 mn by 2015, up from 58% to 61% of total households. DTH will
be the dominant driver for digitisation; DTH ARPU to increase to INR 253 in 2015.
Print: Revenues to post 10% CAGR over the next five years. Hindi print ad market to grow at 1.5x
the rate of English. Circulation revenues to virtually remain flat.
Radio: Revenues to post 20% CAGR, faster than both TV and print, aided by increasing
acceptability of radio among advertisers and expansion from phase III.
Outdoor: Revenues to post 12% CAGR with improvement in infrastructure.
Digital: Fastest growth at 28% CAGR, propelled by increase in broadband and 3G usage.
Films: Better movie pipeline and growth in multiplexes to drive growth at 10% CAGR.
Slow rate of reforms is the key area of concern.
Top picks: Dish TV, Jagran Prakashan, IBN18. We are also positive on other Hindi print
and radio players like ENIL.
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