The world of Media & Entertainment is at a crucial crossroads with remarkable growth and change. Globally, digital shifts reshape content creation and consumption. In India, our ecosystem uniquely blends tradition and innovation. Entertainment tech, OTT platforms, AI newsreaders, print media, and OOH – every part of the M&E industry’s figurative body is growing, underlining India’s ever-growing appetite and the diversity of affordability, availability and accessibility for content.
The integration of digital technologies in the Indian M&E sector is at a scale without parallel amongst the comity of nations. The sector is witnessing a massive transformation, fuelled by the Government of India’s thrust on improving digital infrastructure in the country. This surge in digital media is forecasted to propel the M&E sector’s growth to a 10% annual rate, crossing INR 3 trillion ($37.1 billion) by 2026. This growth is buoyed by a robust digital infrastructure, widespread adoption of OTT platforms, significant growth in the gaming segment, and the availability of cost-effective options for consumers. Despite this digital boom, traditional media is also experiencing steady growth and thus India is a ‘Linear AND Digital Market’ rather than ‘Linear OR Digital Market’. India’s diverse media habits are evident in its consumption of print, radio, out-of-home advertising, and regional TV.
India produces a staggering 200,000 hours of content annually, including over 1,700 films, 3,000 hours of premium OTT content, and 20,000 songs. It’s noteworthy to acknowledge that Indian content is captivating audiences in more than 160 countries and topping streaming charts across global platforms. Even within India the traditional boundaries separating regional and national content are increasingly becoming indistinct, forecasting a new era where local flavors and stories are showcasing the universal appeal of Indian storytelling.
A key factor driving the growth of the M&E sector is the accessibility and affordability of the internet. Ad-supported video on demand platforms have transformed viewership in India by providing easy and affordable access to live sporting events. The democratisation of content consumption will be further strengthened through supportive developments in the all-critical triad of infrastructure readiness, consumer market growth, and enabling public policies. India’s burgeoning talent pool in content creation which includes post-production, VFX, animation, and gaming, is transforming it into a hub for the creative industry. In India’s journey towards a billion active screens by 2030, with mobile screens comprising over 75 per cent of them, the need to innovate content creation, distribution, and monetization strategies becomes paramount.
As we navigate towards a bright and dynamic future, it is crucial to leverage the synergy of creativity and technology with forward-looking policy and regulatory regimes. This can help us realise our Hon’ble PM Shri Narendra Modi’s vision of India as the content hub of the world – exporting our unique stories, diverse perspectives, and rich culture – thereby building our nation’s soft power globally.
The author is Chairman of FICCI Media and Entertainment Committee and CEO – Broadcast Entertainment, Viacom18.
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