The Indian media and entertainment (M&E) industry grew at an average annual rate of 18.55 per cent from 2011-2017; and is expected to grow at 13.9 per cent to touch US$37.55 billion by 2021.
The next 5 years will see digital technologies increase their influence across the industry leading to a sea change in consumer behaviour across all segments.
The entertainment industry is projected to be more than US$62.2 billion by FY25.
The industry provides employment to 3.5-4 million people.
The entertainment industry continues to be dominated by the television segment, with the segment accounting for 44.24 per cent of revenue share in 2016, which is expected to grow further to 48.18 per cent by 2021.
Google’s video platform, YouTube, plans to increase its user base in India to 400 million, as rising internet penetration in the rural areas will enable consumers to access videos on their smartphones.
I expect personal video messages to be a massive growth area – with Indian creativity being stretched to supply this sector.
India is one of the highest spending and fastest growing advertising markets globally. The country’s expenditure on advertising is expected to grow at 12.1 per cent to US$10.59 billion by the end of 2018.
If you are an investor or content provider, India should be on your radar.
Author: Stephen Manallack
Former President, Australia India Business Council, Victoria and Author, You Can Communicate; Riding the Elephant; Soft Skills for a Flat World (published by Tata McGraw-Hill INDIA); Communicating Your Personal Brand.
Director, EastWest Academy Pty Ltd and Trainer/Speaker/Mentor in Leadership, Communication and Cross Cultural Communication.
Passionate campaigner for closer western relations with India.
Stephen Manallack is a specialist on “Doing Business with India” and advisor/trainer on “Cross-Cultural Understanding”. He is a Director of EastWest Academy Pty Ltd which provides strategic advice and counsel regarding business relations with India.
A regular speaker in India on leadership and global communication, his most recent speaking tour included a speech to students of the elite Indian university, Amity University, in Noida. He also spoke at a major Federation of Indian Chambers of Commerce and Industry (FICCI) global summit, the PR Consultants Association of India in Delhi, the Symbiosis University in Pune and Cross-Cultural Training for Sundaram Business Services in Chennai. He has visited India on business missions on 10 occasions and led three major trade missions there. He provides cross-cultural training – Asia and the west.
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