Media & Entertainment is expected to reach US$ 34.8 billion by 2022
Indian cinema has a following in over 90 countries around the world
900 satellite tv channels
6,000 multi-system operators
60,000 local cable operators
7 DTH operators
15th rank in the world music industry
Top 10 music markets by 2022
India has 118,239 registered publications
Attracted US $350 million worth of investments from venture capitalists by 2020
Projected to reach US$ 25.9 billion in revenue by 2022
Entertainment has taken a digital form in India, a country with more than 570 million Internet users. In 2019, Digital media overtook filmed entertainment to become the third-largest segment of the sector. The transition of the industry to digital media has multiplied the number of streaming services’ users many-fold and has proven a boon for launches of numerous tele-series and other content.
Entertainment consumption has risen notably within a short span of time, due to virtual events and concerts, online gaming, free entertainment subscriptions, blockbuster movies being released on streaming platforms and so on.
Advancements in technology like AI and ML are assisting companies to predict consumer behaviour and preferences, leading to increased personalized and adaptive content.
In 2020, 28 million Indians paid for 53 million OTT subscriptions, leading to a 49 per cent growth in digital subscription revenues.
The National Communications Policy has aimed to accomplish the provisioning of Internet connections to as many people as possible under the “Broadband for All” initiative by 2022. The NCP has plans to create 4 million additional jobs in the Digital Communications sector.
The Indian Media & Entertainment industry is expected to reach US$ 34.8 billion by 2022 and grow nearly threefold to US$ 100 billion by 2030.
The Indian gaming industry has attracted $350 million worth of investments from venture capitalists by 2020. The animation and VFX industry is expected to expand with a 20.4% CAGR by 2022. The Government of India is gearing up to establish a National Centre of Excellence for Animation, Gaming, Visual Effects and Comics industry in Mumbai.
The online gaming segment continued as the fastest-growing segment of the Media and Entertainment sector for the fourth year in a row and reported a revenue of over US$ 1 billion in 2020.
Indian Entertainment is a dynamic sector when it comes to investments and acquisitions. Some significant developments in the industry include:
The Indian Entertainment Sector, with its expanding user base and technological adaptability is sure to keep its audience thoroughly entertained for a long time to come.
