Media & Entertainment Sector’s on a Good Wicket

India’s media and entertainment industry grew 13.4% year-on-year in 2018 to ₹1.67 lakh crore, according to a joint report by the Federation of Indian Chambers of Commerce & Industry (Ficci) and consultancy EY.

Increasing disposable incomes and economic growth, along with the second highest number of internet users after China, at 570 million subscribers, worked in favour of the industry and would propel it further to ₹2.35 lakh crore by 2021.

Digital and online gaming saw the fastest growth during the year, followed by live events and animation, as per the report. Traditional media including television, music and films continued to show double-digit growth, it said.

As per the report, online gaming saw maximum growth but real money was in real money games including fantasy and e-Sports. While gaming sector grew 52%, the number of online gamers reached 278 million in 2018.

The report noted that advertising budgets continued to shift towards digital media despite fears of advertising fraud. While the sector commanded 21% of total advertising, digital subscription witnessed a massive growth on a smaller base.

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