Media, Entertainment to be Rs 2.35 lakh crore business by 2021; TV to be largest

The media and entertainment (M&E) industry is expected to cross the Rs 2.35-lakh-crore mark (around $33.6 billion) by 2021, clipping at 11.6% annually, says a report. According to a Ficci-EY report, the industry stood at Rs 1.67 lakh crore ($23.9 billion) in 2018, growing 13.4% over 2017.

“While TV will remain the largest segment, growth is expected to come from digital that will overtake film entertainment in 2019 and the print by 2021,” says the report released at the annual industry summit Ficci Frames on Tuesday.

Of the 570 million Internet users, around 2.5 million use only digital media and eschew the traditional media, according to the report which forecasts that this digital-only customer base is slated to double to 5 million by 2021.