There has been a tremendous expansion in the media and entertainment industry globally and Indian media is one of the fastest flourishing industry all over the world. The Entertainment Industry is bifurcated into different segments like TV, films, radio, music, animation etc. There has been a continuous advancement in this industry; new technologies are creeping in quickly, consumer behavior is changing day by day, expansion of the regional media, upcoming media ventures, digitization and an increase in competition have boosted its development to 11.8 percent in 2013. All these aspects push the media and entertainment industry towards a new sphere. A few days ago while watching the television, the screens went blank, this was an initiative taken by the government to propel digitalization in the whole country which would enhance the services of digital cable growth and direct-to-home (DTH) in India that would further carry on the GDP to 6.7 percent.
A market research report shows the Overall Entertainment Industry Size and its Flange in the next five years. Growth in all the sectors of media like television, music, digital advertising, animation, games etc. is projected to go up to 10 percent. Moving ahead these segments address a healthy expansion of Compound Annual Growth Rate (CAGR) to 15.2 percent which will attain a figure of INR 1661billion by the end of 2017.
According to an information provided by McKinsey, US will subject to India in the amount of the internet consumers by 2015. But the report also states that 75 percent of the 330-370 million internet users will be using the internet through the mobile internet facilities as it is easily accessible. The growth of the entertainment industry relies on the newly introduced technology that is “Digitalization”. In digital format the movies produced are easily distributed and cost effective, around 77 percent of movies are released in the digital format. Uday Shankar, chairman of the FICCI, Media and Entertainment committee and CEO of Star India stated “Digitization is a successful and a powerful alignment”.
• Television is conquering India’s media and entertainment sector with showing a growth of 12.5 percent over the total revenue generated by the print medium.
• Internet in the country enhanced by the induction of wireless connections and mobiles.
• The radio industry in India predicted a growth of 7 percent in 2013 compared to the revenue generated of Rs 1,530 crore in 2012.
• Advertising expenditure in media all around the globe has raised to 3.9 percent in 2013.
Hence, be it any sector of the media or entertainment industry, it has always added to the growth of the nation in terms of the gross domestic product (GDP).