India's media, entertainment industry to see fastest growth globally; hit Rs 4 lakh crore by 2025
“Despite the pandemic, the Indian entertainment and media sector has shown remarkable resilience,” the consultancy’s partner Rajib Basu said adding that India will be the fastest-growing entertainment and media market globally in terms of consumer and advertising revenue.
Technological advancement and deepening of internet access will continue to influence the way Indians consume content, he said adding that there will be more appetite for localised content, and newer business models will also evolve.
TV advertising grew to Rs 35,015 crore in 2020 despite the pandemic and will expand at the rate of 7.6 per cent to contribute over Rs 50,000 crore to the overall pie, it said.
Advertising on the internet is expected to grow at a faster clip of 18.8 per cent per annum during 2020-2025 to over Rs 30,000 crore by the end of the cycle, it said.
The report added that the revenue from mobile internet advertising in India was Rs 7,331 crore in 2020, and will rise to Rs 22,350 crore by 2025, showing a 25.4 per cent increase.
