Digital media powered growth in India’s M&E industry in 2018: Report

New Delhi: India’s media and entertainment (M&E) sector grew 13.4% year-on-year to touch ₹1.67 trillion in 2018, powered by digital platforms that grew 42% to ₹16,900 crore during the period, a new report said. The M&E sector in India is expected to cross ₹2.35 trillion ($33.6 billion) by 2021, at a compounded annual growth rate of 11.6%, according to the report by lobby group Federation of Indian Chambers of Commerce and Industry (Ficci) and consulting firm EY.

Digital will continue its scorching pace of growth to overtake filmed entertainment in 2019 and print by 2021, said the report titled A Billion Screens of Opportunity, released in Mumbai on Tuesday at Ficci Frames, an yearly media and entertainment industry event.