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A Billion Screens Of Opportunity

Finally, the ₹1.67 trillion M&E sector will be getting a National Broadcast Policy, which will address the issues plaguing the sector.

The Indian Media and Entertainment (M&E) sector reached ₹1.67 trillion in 2018, a growth of 13.4 percent over 2017, states the FICCI-EY report, A billion screens of opportunity, launched at the FICCI Frames 2019 on March 12, 2019 in Mumbai.

With its current trajectory, the M&E sector in India is expected to cross ₹2.35 trillion by 2021, at a CAGR of 11.6 percent. While television retained its position as the largest segment, growth is expected to come from digital which will overtake filmed entertainment in 2019 and print by 2021.

The sector continues to grow at a rate faster than the GDP, reflecting the increasing disposable income and economic growth. India has the second highest number of internet users after China with 570 million internet subscribers growing at 13 percent annually. Approximately .5 million consumers in India today are digital only and would not normally use traditional media. It is expected that this customer base will grow to 5 million by 2021.

Traditional media companies spent 2018 building their customer data through second-screen interactive propositions, polls, house-to-house surveys, integration of third-party data, etc. Digital consumption will grow, and monetization avenues will see great innovation to cater to the new Indian customer segments. Telco bundling will drive consumption for a majority of Indian OTT audience. Advertising growth outpaced subscription growth and is expected to comprise 52 percent of the total pie by 2021. (Valium)

Amit Khare
Secretary, Ministry of Information & Broadcasting
“The draft of the National Broadcast Policy is being prepared and we are working with key and other stakeholders. There is a need to relook at the existing regulatory structures because of convergence. The government so far has followed a liberal policy of having less regulation. The ministry favors self-regulation for the broadcast sector. The role of the government is that of a facilitator and not a regulator. There is no reason to believe that a wise person sitting in Delhi would be more knowledgeable or more prudent compared to the industry who are dealing with the subject on a day-to- day basis.”

Uday Shankar
VP, FICCI and Chair, FICCI Media and Entertainment Division
“The Indian M&E sector is entering a phase of accelerated growth. The status quo is being shattered by digital disruptions and that’s unshackling the creative economy in India like never before. These are exciting times for all it is to let our imagination and ambition guide us.”

Ronnie Screwvala
Chairman & Co Founder, UpGrad
“The companies of tomorrow need to be more consumer companies and not just media companies. The Media and Entertainment sector cannot just function with passion, we also need leaders, founders and entrepreneurship.”

Ashish Pherwani
Partner and Media & Entertainment Leader, EY India
“The M&E sector has a significant opportunity given India’s young demographics. The growth of digital infrastructure is further enabling Indians to fulfill the need for personal content consumption, across languages and genre. There is a large shift in consumer behavior from mass produced content to specific content defined to audience segments. The sector has an opportunity to serve a billion screens in India and globally.”

Charles H. Rivkin
Chairman & CEO, Motion Picture Association of America
“India is the largest producer of movies but has the least number of screens to enjoy them. Dangal is the highest grossing film in India. India’s population is only second to China. Yet this movie made more in the Chinese box office than it did in its own country. It earned 5 times more in China. The numbers tell a story because China has more than 50,000 screens, whereas India currently has around 9,500 screens”.

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