Media, entertainment sector revenue could take 16 pc hit in FY21: Crisil

The media and entertainment sector is expected to witness 16 per cent decline in revenue for FY21, due to fall in advertisement and subscription income in the wake of coronavirus-induced lockdown, rating agency Crisil said.

The industry would take a hit of around 18 per cent in revenue from advertisement that accounts for nearly 45 per cent of total income, while the subscription earning that contributes 55 per cent will be relatively resilient with a likely decline of 14 per cent, Crisil said in a report.

Overall, the industry is expected to have a turnover of around Rs 1.3 lakh crore this fiscal, it added.