India is a country of different cultures; it is amongst the countable nations that houses people coming from various backgrounds, separate castes, religions and creeds. They yet live together in peace and harmony. The country for this specialty is also termed as the world’s largest democracy where people are gifted with the rights to lead a life of their choice and preferences. With such a vibrant atmosphere certain interests are ought to be hobbies or passion for people living in the country.
Any person aware of the lifestyles of an Indian will surely know the importance of media and entertainment; all people are at some point of their lives hooked up to these segments. This industry of media and entertainment is present in several forms like news, films, television sitcoms and many more.
The country’s Media and Entertainment (M&E) sector enjoys a massive place in the business world and is a worthy contributor to the nation’s economy. The sector witnessed a growth of a healthy 11.8% reaching a whopping value of 918 billion INR by the end of 2013. Though the country’s economy saw a little progress from other sectors, this particular segment witnessed some massive changes such as digitalization and increase in regional media groups. The industry is forecasted a value of 1,786 billion INR by the end of 2018. Certain categories such as news channels saw a rise in their numbers; besides these the sector gained huge revenues through the developing gaming industry and the digital advertising which had the highest growth levels of all.
Section wise growths are given below:
Television– it is undoubtedly the most effective medium of media and entertainment with a growth of around 16% CAGR for the time-frame of 5 years (2013-2018). The industry was valued at 417 billion INR for the year 2013 and its revenue is estimated to increase by 71% by 2018.
Print Media– this is the second most opted for media after TV in India. The segment is estimated a growth of about 9%, reaching a value of 243 billion INR in 2013 from 224 billion INR in 2012. The category continues to reap majority of its revenue (94.4%) from the newspapers whereas; the magazine segment has been through a mix ride with revenues ranging to 14 billion INR.
Digital Media– it is a relatively newer mode of media in India and it has taken a sizable spot in the entire industry. The segment has had a whopping growth of almost 39% for the year 2013 valued just over the 30 billion INR mark. Similarly; the advertising media under this digital industry is estimated to have a whopping growth of 37% for the year 2014 and cross a value of 41 billion INR. Facebook and Google predictably dominate the online advertising industry by almost accounting to 50% of total online adverts in and around India. This medium is doing well on a global-front too.
Radio– being the oldest mean of entertainment and information radio has come a long way of progress and innovation with the help of technological backup. The industry is predicted to have a healthy CAGR of 18% from the year 2013 to 2018.
The overall advertising market is projected to perform well with a CAGR growth of 13.9% and reach a value of 694 billion INR by the end of 2018. Under this industry, the segments of Television and Print are more likely to gain the highest growths of around 38% and 45% respectively. The scheduling of general election in the middle of 2014 is marked as a major contributor for the increase in the Media and Entertainment industry at large.