Media, entertainment industry to generate $33.6 billion revenue by 2021: EY

Mumbai: The Indian media and entertainment industry is projected to generate $33.6 billion in revenue by 2021 on the back of international investments and digital growth. The industry generated $23.9 billion in 2018, rising 13.4%, according to a report.

Chartered accountancy firm Ernst and Young (EY) and the Federation of Indian Chambers of Commerce and Industry (FICCI) released a joint report at FICCI Frames’ 2019 inauguration ceremony.

Television, print, films and digital media are highlighted in the report. In terms of growth, digital media grew the most by 42% to reach ₹169 billion in revenue last year. The film segment saw 12.2% growth followed by television, which grew by 12%. Print, which accounts for the second largest share in the media and entertainment sector, grew by 0.7%.