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Growth and Revenue Projections

HIIHT US 21 US 5 0.9% 11 εε 29 20 0.7% 0.8% Canada Australia Brazil 29 Growth Potential of Media & Entertainment (M&E) Industry in India Ad spend (% of GDP) 0.7% 0.8% 0.4% 0.5% 0.7% UK Italy France Germany Japan China India Print cover price (PPP USD per month) Canada Australia Brazil UK Italy France Germany Japan China India Source: BCG-CII report, 2015 Huge scope in India backed by low penetration of advertising coupled with lower cover price and higher GDP growth forecast 25 4 20 9 9 0.9% 0.4% 0.3%

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