The Indian Media and Entertainment (M&E) sector can be said as a sunrise sector for Indian economy. The sector is consists of several segments like films, television, print, radio, music, animation and gaming etc. You may also include VFX , Out-of-home advertising and Internet advertising. In recent years, the industry is showing unprecedented growth in few of the segments.
Indian Media and Entertainment industry has shown explosive growth in last 20 years. The industry is always supported by strong rising demand from Indian & foreign consumer hence rise in revenue. With the rise of Internet services, the industry has shown different pictures of growth and opened up wide range of opportunities for industry overall.
The latest report published by FICCI EY, the Media and Entertainment (M&E) sector in India has rose by 9% to USD 25.6 billion in FY19.
The association also expect that the industry shows strong commitment and expected to jump USD 34 billion by 2022. The report shows that if the growth rate of 9-10 % tends to be same in preceding years supported by strong mobile proliferation, the Media and Entertainment Industry will definitely see exponential growth .
The report states that Digital Media has taken place of Filmed Entertainment and has become 3rd Largest segment in the sector.
However, TV and Print shows shows same position on the trajectory. The reason behind is the massive penetration of digital media their business models which is a subscription based. Whereby, consumers has full liberty to choose what they wish to watch and what time. This mechanism has given extended freedom which is reason for the growth in this segment.