The Media and Entertainment (M&E) has an expected growth in double-digits annually, according to a PrinceWaterHouseCoopers (PWC) report.

This report forecasts a compound annual growth rate (CAGR) of 18.5 per cent for India and pegs the industry at around $36,331-million in 2012.

"The opening up of the entertainment and media market will fuel expansion in India" PWC's Managing Partner, Global, Entertainment & Media Practice, Mercel Fenez said.

It is also estimated that segments like recorded music, consumer and educational books are likely to have a single-digit growth.

Globally, the industry is expected to grow at a CAGR of 6.6 per cent over the next five years.

According to PWC, the total industry size which today stands at USD 1.6-trillion would grow to $2.2 trillion in 2012.

"We are seeing a new business model solidify for entertainment and media companies," Fenez, said.

This increase estimated is from USD 333-billion in 2007 to $508 billion in 2012, the report said.