Entertainment Industry Sector Overview in India | Maier+Vidorno

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Statistics, news & updates: everything you need to know about the Entertainment Industry in India



To begin with, initially, the media and entertainment industry in India consists of many different segments under its folds such as television, print, and films. Not only this but it also includes smaller segments like radio, music, out-of-home advertising, animation, gaming and visual effects (VFX), and internet advertising. Moreover, the entertainment industry in India has registered explosive growth in the last two decades making it one of the fastest-growing industries in India. Additionally, the Indian advertising industry is projected to be the second-fastest-growing advertising market in Asia after China. However, at present, advertising revenue accounts for around 0.38 percent of India’s gross domestic product. Not only this by 2021, the Indian media and entertainment industry to reach $31.33B USD. Alternatively, the Government of India has taken various initiatives to give boost to this industry.
Covid Impact
The outbreak of coronavirus is significantly impacting industries across India, with the music and entertainment industry being no exception. With the implementation of lockdowns across all states as a way of containing the spread of the virus, public gatherings have been prohibited and theatres, cinemas, music festivals, shows, and concerts have been closed or canceled indefinitely. Megacities showed a 22 percent hike in viewership, led by a 28 percent growth in Mumbai, followed by a 22 percent growth in Delhi. In the latest BARC data–the viewership of news channels in India grew by 57%, and the advertising on news grew by 21% to about 10 million seconds of free commercial time (FCT). Advertising on kids’ genre went 27% up while Hindi Movies genre and Hindi GEC witnessed a jump of 8% each, in FCT. Therefore, the pandemic has created a shift of viewership from movie theaters towards OTT platforms, this is expected to grow and even stay after the lockdown is lifted.
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