Entertainment - #SectorUpdates
According to Research Reports, the Indian Media and Entertainment sector will expand at a CAGR of 9% and will hit Rs 4.3 lakh crore by 2026 and is estimated to be around Rs 3.14 lakh crore in 2022. Along with traditional media, which will continue to develop steadily, the expansion would be paced by digital media and advertising through greater internet and mobile device penetration in the domestic market. By 2026, it is anticipated that TV advertising in India will exceed Rs 43,000 crore. After the US, Japan, China, and the UK, India will be the fifth-largest TV advertising market globally due to this. By 2026, it is anticipated that India’s OTT video services will generate revenues of Rs 21,031 crore, of which Rs 19,973 crore will come from subscription-based services and Rs 1,058 crore from transactional VOD (video on demand). The rapid growth is fuelled by the subscription services for the OTT platforms.