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Overview of Indian Media and Entertainment industry


The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making significant strides. Proving its resilience to the world, the Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenue. The industry has largely been driven by increasing digitization and higher internet usage over the last decade. The Internet has almost become mainstream media for entertainment for most of people.

Media is consumed by audiences across demographics and various avenues such as television, films, out-of-home (OOH), radio, animation, and visual effect (VFX), music, gaming, digital advertising, and print.

The Indian advertising industry is projected to be the second-fastest-growing advertising market in Asia after China. At present, advertising revenue accounts for around 0.38 percent of India’s gross domestic product. By 2021, the Indian media and entertainment industry will reach Rs 2.35 trillion.

India ranks 15 in the world in the music industry and is expected to enter the top 10 music markets by 2022.

Market Dynamics The M&E industry will grow at a CAGR of 13.5 percent during FY19-FY24. It is expected to reach around Rs 3.1 lakh crore (US$ 43.93 million) by 2024.

India's advertisement market is projected to grow 10.62 percent y-o-y to Rs 85,250 crore (US$ 12.06 billion) till 2021. India’s advertisement spending touched Rs 67,603 crore (US$ 9.67 billion) in 2019, up 11 percent y-o-y. Digital advertising has emerged as the third-largest advertising medium in India. It generated revenue worth Rs 15,467 crore (US$ 2.21 billion) in 2019. Digital will contribute 29 percent of the ad market size by 2021.

The online video market in India is estimated to reach US$ 4 billion by 2025, with subscription services contributing more than US$ 1.5 billion and advertising adding US$ 2.5 billion.

The Indian film industry reached Rs 100 billion (US$ 1.43 billion) in 2019. An increasing share of Hollywood content in the Indian box office and 3D cinema is driving the growth of digital screens in the country. India’s video streaming industry is expected to grow at a CAGR of 21.82 percent by 2023. Recent development/Investments Foreign Direct Investment (FDI) inflow in the Information and Broadcasting (I&B) sector (including Print Media) for the period April 2000 – March 2020 stood at US$ 9.20 billion as per the data released by Department for Promotion of Industry and Internal Trade (DPI).

  • In 2019, the sector witnessed a total of 21 mergers and acquisitions (M&A) worth US$ 240 million.

  • The shipment of TVs in India increased by 15 percent annually to reach the highest-ever level of 15 million units in 2019.

  • In April 2020, Hotstar, owned by the Star network, was rebranded as Disney+Hotstar. It plans to localize Disney+ movies and shows by dubbing or adding subtitles in Indian languages, including Hindi, Tamil, and Telugu. 

  • Bharti Airtel’s direct-to-home (DTH) arm Airtel Digital TV and Dish TV merged by end of August 2019.

  • As stated in Union Budget 2019-20, the Government was to launch a dedicated channel for start-ups.

  • Spotify will launch a lite version for low-end Android phones in India.

  • As of January 2019, Zee Studios launched a digital content arm Zee Studios Originals, to globally produce premium, original content and create new (IPs) Intellectual Properties for all digital platforms.

  • As of July 2019, SonyLIV, India’s first premium video on demand platform (VOD) crossed the 100 million app download on Play store.


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