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.
