Business Daily from THE HINDU group of publications
Thursday, Aug 27, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Thursday, Aug 27, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Info-Tech
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Industry Associations Web Extras - Entertainment & Leisure Nasscom lowers forecast for animation industry Our Bureau Mumbai, Aug. 26 The apex body of IT software and services, Nasscom, has lowered its 2012 forecast for the animation industry by 27.7 per cent and gaming industry by 16.3 per cent. It now expects revenues from the animation industry to touch $830 million, against the earlier estimate of $1060 million, and revenues from the gaming industry to touch $1000 million against $1163 million. This downward revision is largely on account of slackened demand due to the global economic downturn. “…the domestic box office for animation movies has not picked up as estimated, end-to-end skill sets not being developed in the animation services industry and proof of concept/IP creation not up to expectations,” Nasscom said in a press statement. The animation industry in India was estimated at $494 million in 2008 while the gaming industry was estimated at $150 million. Mr Som Mittal, President of Nasscom said: “NASSCOM recognises this industry as one that is a significant user of technology, and can further showcase India’s well established credentials in the IT Industry space. However, being in a nascent stage of development, it is critical for all stakeholders to come together and create an environment that nurtures this industry for it to be able to compete at a global scale.”
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