FICCI - EY Report 2018 Reveals M&E Industry Registered 13% Growth to Reach INR 1.5 Trillion in 2017
by EVENTFAQS Bureau Industry Watch | March 5, 2018 | News
EY
Released on March 4th, 2018, the FICCI-EY Report 2018 has revealed that the Indian Media and Entertainment (M&E) sector reached almost INR1.5 trillion (US$22.7 billion) in 2017, registering a growth of around 13% over 2016.
With its current trajectory, the M&E sector is expect to cross INR2 trillion (US$31 billion) by 2020, at a CAGR of 11.6%. The report has also divulged other key insights from the exciting and fast growing Indian M&E sector.
It reads, “The M&E sector continues to grow at a rate faster than the GDP growth rate, reflecting the growing disposable income led by stable economic growth and changing demographics.” The report estimates that approximately 1.5 million consumers in India today are digital only and would not normally use traditional media. It is expected that this customer base will to grow to ~4 million by 2020 generating significant digital subscription revenues of approximately 20 billion.
Farokh Balsara, Partner and M&E Leader, EY India, stated, “Indian M&E sector reached INR1.5 trillion in 2017 led by digital. With digital subscribers expected to reach 20 million by 2020, has Indian M&E reached its digital tipping point? We now need to re-imagine the future of Indian M&E sector.”
Ashish Pherwani, Partner and M&E Advisor Leader, EY India, “Growth in 2017 was led by the digital, film & animation & VFX segments. We expect sectors like digital and gaming to grow between 2 to 3 times by 2020.”
Read the complete report here.
With its current trajectory, the M&E sector is expected to cross INR 2 trillion (US$31 billion) by 2020, at a CAGR of 11.6%.