Digitalization to Boost the Indian Media and Entertainment Market

Posted on: Jul-2017 | By: 9 Dimen | Technology

The need for digitalization in the various sectors has helped the country prosper to some extent. Digitalization helps ease and quicken the process of improvement needed in a sector. Currently, in India the craze for TV, print, media, and entertainment industry is endless. Hence, there is no doubt that half of the country’s revenue is earned through this sector.

A growth CAGR of about 11.8% in the Indian media and entertainment market has been evaluated till date. Thus, the digital platform has just helped the market excel all these years. According to the FICCI-IIFA Global Business Forum, the digital media will outdo the TV, print, radio, and music concert programs in the next few years. Though India is an under-advertised country it is making up through mobile advertising. The addition of technological advancement in the field of entertainment has propelled up the peoples’ urge to switch to the digital platform.

The Indian media and entertainment market will have its revenue doubled up to $16.7 Billion by 2020 owing to the advertising segment. Currently, revenue growth of about $34.8 Billion is expected from the Indian media and entertainment market by 2021.

In addition to this, the growth of about 7% in the print media, 14% in radio, 11% in music, and 16% in organized events are seen. Looking at the current entertainment status in the country, there is a lot of scope for the companies interested in making establishments and add on to the Indian market growth. Digitization has taken over all the marketing, entertainment, media, radio, and others as well.

The growth of the Indian media and entertainment market is surging upwards owing to the innovation and consolidation. The shares of the entertainment market will take a drastic change by 2021. In India, the craze for movies and other entertainment is a bonanza for the market. Looks like, the digital platform is something the Indian media and entertainment market has been waiting for all this while.

The future for the Indian media and entertainment market seems bright. Hope, the industry climbs the ladder of success in the years to come.