ENTERTAINMENT SECTOR OVERVIEW
Statistics, news & updates: everything you need to know about the Entertainment Sector in India
Summary/Snapshot
Entertainment Industry
- With 1.18 billion subscribers, India is the world’s second-largest telecoms market. India’s booming mobile economy currently accounts for nearly all of the country’s telephone subscriptions.
- The OTT video services market in India (video-on-demand and live) is expected to grow at a 29.52 per cent CAGR to reach US$ 5.12 billion by FY26, caused by rapid advancements in online platforms and rising demand for high-quality content among users.
- India is spending 80% of its time on mobile phone apps for media and entertainment.
- India’s Media and Entertainment Industry is expected to reach US$ 53.99 billion by 2026.
- By FY23, the share of digital media is expected to increase to 19% from 17% in FY20 and filmed entertainment is expected to increase to 11% from 5% in FY20.
- Mobile Data Prices are most affordable in India ($0.09 per GB) as compared to US ($8 per GB) and UK ($1.39 per GB).
- By 2023, the television market is expected to reach US$ 12.01 billion, up from US$ 9.71 billion in 2020.
- India’s publishing business is expected to reach US$ 10.74 billion by 2024
- Between 2019 and 2024, the Indian media and entertainment business is expected to grow at a CAGR of 13.5 per cent, reaching US$ 43.93 billion. Television, digital, and print accounted for over 80% of total media and entertainment revenue in FY20
- Digital media’s market share is predicted to rise to 19% by FY23, and filmed entertainment’s share will grow from 5% to 11% in FY20
Growth Drivers
- The Indian government has increased the foreign direct investment cap to 100%.
- By 2025, the advertisement-based video on demand (AVoD) industry is predicted to grow at a CAGR of 24%, reaching US$ 2.6 billion.
- In India, 385 million (65% of the entire population) are millennials and contribute to shifting media consumption patterns and lifestyles.
- Due to strong consumption growth, India’s online gaming market is expected to reach US $ 7 billion in 2025 up from US$ 1.08 billion in 2020.
Sub industries
- Amusement Parks & Equipment
- Leisure Products
- Musical instruments
- Recreational goods & bicycles
- Toys, games & hobby Goods
Opportunities
- Due to stay-at-home regulations, the number of viewers in India climbed by 47 per cent in 2020-21, boosting market prospects for content platforms and app developers.
- Netflix opened its first live-action postproduction studio in Mumbai in 2021. By June 2022, the facility will be completely operational, with 40 offline editing rooms.
- According to FICCI-EY analysis, television is predicted to remain the largest category in the media and entertainment (M&E) industry, with a CAGR of 7% reaching US$ 12 billion by 2023.
Challenges
- With the shift to digitization, not only has the communication of news, facts, and information been faster and easier, but so have attacks like social media account hacking, phishing, and scams.
- Lack of transparency, compliance with laws/regulations, copyright and piracy issues and hurt and life threats to people working in the industry are among the issues faced by the media and entertainment industries.
- Even though regulations have been put in place for firms that handle personal data and for organizations that communicate user data to such enterprises, data leaks have frequently made the news.
How we can help you:
- Product-Pricing analysis
- Strategies for – product/service localization
- Market research to sell effectively
Key Investment Opportunities
- Television industry
- Digital media
- Filmed entertainment
- Animation and VFX
- Online gaming
- Over-the-top (OTT) media services
Recent Developments
- Demand for regional content consumption is on the rise. The share of regional content in TV and OTT consumption is expected to reach 60% and 50% respectively by 2025.
- Video viewers have increased to 497 mn, i.e., around 94% of smartphone owners and wired broadband subscribers.
- At 1.5 bn hours, Indians spent amongst the most time on online sports in the world, around a third of global time spent on sports apps.
- Film Facilitation Office (FFO) set up by the Ministry of Information & Broadcasting, Government of India, acts as a single window clearance and facilitation point for producers and production companies with a view to assist them in getting requisite filming permissions.
Key Players in India
National
- PVR
- Dainik Bhaskar Corp
- Eros International Media Ltd
- Den Networks
- Inox
- TV 18
- Zee Entertainment Enterprises Ltd.
- Hathway cable and Datacom Ltd
- HT Media
- SUN TV Networks
International
- Walt Disney (DIS)
- Netflix Inc.
- Comcast Corp (CMCSA)
- Paramount Global (PARA)
- Warner Bros. Discovery Inc. (WBD)
- CBS Corporation
- Live Nation Entertainment Inc. (LYV)
- Nintendo Co. Ltd.
- Fox Corp.
We have completed over 8,000 projects worldwide & 1500 projects in India in nearly every business segment.
WINE & SPIRITS / FOOD & BEVERAGES / AGRIBUSINESS / ENERGY & RESOURCES / TRANSPORTATION / INDUSTRY / TECHNOLOGY / LIFE SCIENCES & HEALTH / SERVICES / CONSUMER & LUXURY GOODS / PUBLIC & PRIVATE INSTITUTIONS
/ Ready to start a conversation?
Write to us at info@maiervidorno.com, or
Fill the form below and we will get back to you shortly.