Media Industry Overview

This is the most exciting time to be working in the media industry in India. Media is the only field where career opportunities are always increasing, thanks to the explosion in the use of digital media platforms, and diverse and independent content creation.

The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making significant strides with the increasing availability of fast and cheap internet. This significantly aided the country’s industry and made India a leading force in terms of digital adoption. India has also experienced growing opportunities in the VFX sector as the focus shifted globally to India as a preferred media technology content creator.

The Indian M&E industry is on the cusp of a strong phase of growth, backed by rising consumer demand and improving advertising revenue. According to a FICCI-EY report, the advertising to GDP ratio is expected to reach 0.4% by 2025 from 0.38% in 2019.

According to India Brand Equity Foundation (IBEF) and the National Investment Promotion and Facilitation Agency (NIPFA) data, India’s Media and Entertainment industry, consisting of Media, Journalism, Entertainment, Corporate Communications, Advertising, Music, Sports, Events, Public Relations, Filmmaking, Theatre, Videography, Television, Digital Content Creation, Radio, Music, Social Media is creating immense job opportunities, and is expected to reach US$100 Billion in revenues by 2030, making it one of the most attractive recession-free sectors in India.

Highilights

• The digital media segment witnessed a 30% growth in 2022-23 to reach US$6.9 Billion.
• The filmed entertainment segment grew 85% in 2022, to reach 90% from 2019 levels.
• 1,600+ films were released in 2022, generating US$1.2 Billion in theatrical revenues.
• India is spending 82% of its time on mobile phone apps on media and entertainment.
• The Indian M&E sector powered through to a growth of 20% to reach INR 2.1 Trillion in 2022.
• 93% of YouTube viewers watch content in Hindi or other regional languages.
• Indians spend 2 billion hours on online sports, among the most time spent in the world.
• The share of regional content in TV and OTT consumption reached 50% in 2022.
• Digital advertising grew 30% to reach US$6.1 Billion in 2022 and is expected to reach US$12.2 Billion by 2027-2028.

(Source: consultancy.in)

Here are some news links that highlight the growth of the media industry in India.

https://economictimes.indiatimes.com/industry/media/entertainment/media/india-to-be-3rd-largest-media-and-entertainment-market-in-5-yrs-union-minister-anurag-thakur/articleshow/105370500.cms

https://www.pwc.in/industries/entertainment-and-media/india-edition-GEMO23.html

https://brandequity.economictimes.indiatimes.com/news/research/indias-entertainment-media-industry-revenues-to-reach-73-6-bn-by-2027-report/101930665

https://www.forbes.com/advisor/in/business/social-media-statistics/

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