The media and entertainment industry has witnessed phenomenal growth over the past few years in India and the trend is expected to continue in the coming years. As per a recent report, the sector is expected to grow 11.8 per cent to INR 91,700 crore in 2013 and is well poised to touch INR 1,66,100 crore by 2017. Despite being home to the largest film industry in the world and offering world’s most affordable movie tickets, television continues to dominate the media and entertainment landscape in the country while film industry is at the third spot behind print media in terms of revenue.
Unsurprisingly, digital advertising showed impressive growth in 2012 with a 41 per cent growth at a revenue base of INR 21.7 billion. The change in consumer lifestyles with better access through cheaper and smarter devices, audiences (especially youth) are making brands go digital to create a strong connect across the world and in India. In addition, the increase in mobile and wireless connections is expected to continue driving growth of internet penetration in India and as a result, the revenue base of the digital marketing industry in the country.
Factors like a vast market base, rich diversity and the ever changing consumer preferences are keeping the media and entertainment on its toes and in return offer a bright road ahead for the sector.