Last Updated: April 24, 2014
International Managing, Director, CNN
Updated: March, 2014
ENTERTAINMENT SECTOR REPORT | March, 2014
The Indian Media and Entertainment (M&E) industry is one of the most vibrant in the world and has a significant impact on the Indian economy. The sector is expected to grow at a compound annual growth rate (CAGR) of 14.2 per cent over 2013–18, by which time it is projected to become a Rs 1786 billion (US$ 29.51 billion) industry. The industry grows seemingly with each passing day and plays a critical role in creating awareness on several issues that impact the masses.
India has a population of over 1.2 billion. The sheer numbers give the M&E industry in the country a tremendous opportunity for growth. Some time back, the thought of reaching and engaging with such a vast and diverse population seemed improbable. That has changed today. The current industry is armed with digital technologies, state-of-the-art mobile devices, penetration of broadband and digital cinema, and a government that fully backs the sector.
India’s advertising market is estimated to be US$ 5 billion, according to the Gunn report. The report also names McCann World-Group India (Mumbai) as the agency to have won most advertisement awards.
The Indian print industry is the second largest in the world and is continuing to grow at a good rate. The industry is expected to reach about US$ 20.9 billion by 2015, which would make it the biggest in the world, according to a government official.
The television segment is also growing at a good rate. It enjoyed a CAGR of 12.7 per cent to garner Rs 417.2 billion (US$ 6.89 billion) in 2013.
Digital media advertising grew faster than any other advertising category in 2013. Streaming and download services witnessed growth in the music industry, with smartphones contributed significantly to increased consumption of music.
Also, the total internet user base in the country reached around 214 million in 2013 with nearly 130 million visiting online sites using mobile devices. Mobile internet users dominated the internet user base with a share of 61 per cent. India is estimated to have gained a mobile phone user base of more than 900 million by the end of 2013, and the country is today the third largest smartphone market in the world.
Times Internet (TIL), has signed a partnership with Ziff Davis Inc., an American publisher and Internet company that attracts 120 million in-market buyers monthly. As part of the partnership, Times Internet will have exclusive rights to the IGN and AskMen brands – the premium gaming and men’s lifestyle sites respectively – and their content in the country. This partnership will further enhance TIL’s growth as a digital community for Indian consumers who are avid followers of games, entertainment and lifestyle.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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