Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
donald trump india visit
donald trump india visit
News18 » India
2-min read

Media and Entertainment Industry May Touch Rs 3.73 Lakh Crore by 2022: Study

Data consumption in India will grow from 71,67,103 million MB in 2017 to 10,96,58,793 million MB in 2022.

PTI

Updated:January 27, 2019, 7:27 PM IST
facebookTwitter Pocket whatsapp
PVR Cinemas chatbot, artificial intelligence, immediate information, guided interface, technology news
Photo for representation. (REUTERS/Danish Siddiqui)

New Delhi: The Indian media and entertainment industry is estimated to touch USD 52,683 million (around Rs 3.73 lakh crore) by 2022 led by increasing disposable income, population and content consumption across the formats, according to a survey.

Besides the traditional media such as TV and cinema, new-age digital platforms such as over-the-top (OTT) services would play a key role, said an Assocham-PwC joint study.

By 2022, the Indian video OTT market will be among the top-10 markets globally with a market size of USD 823 million (Rs 5,363 crore), said the study.

"The entertainment and media industry is projected to grow at a CAGR of 11.7 per cent from USD 30,364 million in 2017 to USD 52,683 million in 2022," the report said.

It further added: "TV, cinema and OTT will collectively account for 46 per cent of the overall growth in the Indian entertainment and media industry for the period 2017 to 2022."

The survey added that both the conventional media industry as well OTT players will coexist in India and achieve impressive growth in the coming years.

With the launch of OTT services, video-on-demand (VoD) has been at the forefront of disruption in the media industry, and the production budgets of companies such as Netflix and Amazon now rival those of traditional studios, said PwC India Partner and Leader (Entertainment and Media Sector) Frank D'Souza.

"Globally, the OTT market is set to grow at a CAGR of 10.1 per cent during the period 20172022. During the same period in India, the segment is expected to grow from USD 297 million (Rs 1,932 crore) to USD 823 million (Rs 5,363 crore) in 2022 at a CAGR of 22.6 per cent," it added.

In this, subscription video on demand (SVoD) will hold a majority share throughout the projected period, it said.

According to the joint survey, over the past decade, the VoD market has evolved across the world, including India, and now with increase in smartphone penetration and lower data tariffs, it is showing promising growth here.

"Mobile video advertising (largely AVoD) is the fastest growing sub-segment of India's Internet advertising market, projected to rise at a CAGR of 32.8 per cent from 2017 to 2022 and to reach USD 317 million (Rs 2,064 crore) by 2022," it added.

Data consumption in India will grow from 71,67,103 million MB in 2017 to 10,96,58,793 million MB in 2022. "With lower-than-ever data tariffs and increasing smartphone penetration in the country, which is around 40 per cent as of 2017, it is safe to assume that the VoD market will be a significant beneficiary of these developments," it added.

Now, the regional and quality content, delivered with a focus on unique and customised 'user experience' through the use of technology, is set to become the mainstay of success for VoD service providers.

However, it also added that the country's per-capita media and entertainment spend will be capped at a mere USD USD 32 by 2021.

"The spend is much lower than that of China, which will stand at USD 222 for the same period, and that of the USA, which will have the highest spend at USD 2,260," it added.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results