The Indian Media & Entertainment sector is redefining the country’s growth narrative, emerging as an enabler of economic growth and inclusion. It’s one of the fastest growing industries in the country. Various segments such as films, television, advertising, print media and music among others have witnessed tremendous growth in the last few years.
The report compiles data and figures, depicting how the Indian Media & Entertainment Industry has evolved itself into a distinct sector, creating experts to cater to the sector’s growth and development. By studying extensively the revenue generated by the sector in the year of 2017 and in the previous years, measuring the indirect and the induced benefits to the economy and the GDP, the report depicts how the sector is contributing to job creation in the country.
Having recognized the three pillars of growth of the sector: Digitally connected consumer, Rural consumer, and Potential of niche content, represent the opportunity for significant development of the Industry. Most companies in the sectors are well aware of the changing trends and developments in the sector, and continue to reinvent themselves by constantly upgrading their business models to retain old consumers, with a focus on attracting new audiences.
With digital disruptions at large and the changing demands of the Indian consumers, there is a need that the industry (with concentrated efforts from the government & the Academia) should take initiatives to introduce more skilled workforce to cater for the growth of the M&E sector. The study shows the current growth rate of the industry, the sector promises consistent growth in the years to come plus generating employment opportunities.
With the substantial scope of development and growth in the sector and employment generation, government and corporate institutions should mutually work on increasing the talented and skilled workforce to ensure the expansion of the sector.