Media and entertainment sector grew about 9%, says FICCI-EY report

The Indian Media and Entertainment (M&E) sector grew about 9 per cent to reach ₹1.82 trillion ($25.7 billion) in 2019, and, with an annual 10 per cent growth, it is expected to cross ₹2.4 trillion ($34 billion) by 2022.

The sector continues to grow faster than GDP, driven primarily by growth in subscription-based business models and India’s attractiveness as a content production and post production destination, according to a FICCI-EY report.

While television and print retained their positions as the two largest segments, digital media overtook filmed entertainment in 2019 to become the third-largest segment of the M&E sector. Digital subscription revenues more than doubled from 2018 levels and digital advertising revenues grew to command 24 per cent of total advertising spend, the report, The era of consumer A.R.T. – Acquisition, Retention and Transaction, which was launched today, said.