India’s media and entertainment (M&E) sector grew 13.4% year-on-year to touch ₹1.67 trillion in 2018, powered by digital platforms that grew 42% to ₹16,900 crore during the period. The M&E sector in India is expected to cross ₹2.35 trillion ($33.6 billion) by 2021, at a compounded annual growth rate of 11.6%. Digital will continue its scorching pace of growth to overtake filmed entertainment in 2019 and print by 2021. Digital ad spends grew 34% to ₹15,400 crore and now account for around 21% of the ad market. Further, the TV industry grew from ₹66,000 crore to ₹74,000 crore in 2018, a growth of 12% and is estimated to reach ₹95,500 crore by 2021, with advertising growth at 10% and subscription growth at 8%. Newspaper advertising reduced by 1% while magazine advertising fell 10%, because of reduced ad volumes and pressure on effective rates. The Indian film segment grew 12.2% in 2018 to reach ₹174.5 billion, driven by the growth in digital rights and overseas theatricals.

(Live Mint)