The media and entertainment sector (M & E) recorded Rs 1.61 trillion revenues in 2021, growth of 16.4 percent in the year. However, this industry has not yet reached the pre-pandemic level, according to the FICCI EY-FICCI report launched on March 21 Because the second wave of Covid-19, the April-June quarter was influenced and this sector remained shortage of pre-pandemic levels (2019), according to a report entitled ‘Tuning to Consumers – India M & E rebounded with a customer’s centric approach The M & E sector recovered only 16 percent because consumer subscription expenditure remained affected by Covid-19 cross-films, events and televisions, added the report If if there is no further impact of pandemic, this sector is expected to grow 17 percent in 2022 reaching Rs 1.89 trillion in revenue and recovering to the 2019 pre-pandemic level. This industry is expected to grow on 11 percent CAGR reaching Rs 2, 32 trillion in 2024, further report noted.
Digital media saw last year’s highest growth, increased its contribution from 16 percent in 2019 to 19 percent in 2021. Digital media, which has become the second largest segment in the M & E sector, grew by Rs 68 billion in 2021 While digital parts increase, traditional media share falls. Part of traditional media (television, print, film filmed, ooh, music, radio) reached 68 percent of the M & E sector revenue in 2021, down from 75 percent in 2019.
Sanjay Gupta, Chairman, Media and Entertainment Committee FICCI, said that the recovery went well with digital serving an important role in it. “In particular, the growing animation and the VFX segment set India well to become the creator of the preferred content for the studio globally,” he added At 57 percent, animation and VFX were the fastest growth segment in 2021, because the production of content was continued, exports of services increased, and this sector adopted virtual production.
TV, which is the biggest segment, grew 5 percent in 2021 but advertising growth outperformed and grew 25 percent on TV. On the advertising front, the highest growth was witnessed on television with Rs 62 billion, followed by a digital advertising of Rs 55 billion and then Rs 29 billion from print. In 2024, India’s advertising market was estimated to reach Crore Rs 1 Lakh On the side of the film, more than 750 films were released in 2021 compared to 441 releases in 2020 despite limiting capacity during the year. This segment grew 28 percent but remained at half the 2019 level. This segment is expected to recover to the pre-pandemic level in 2023.
In terms of mergers and acquisitions in the M & E sector, there are more than 100 offers in 2021 and 86 percent of whom are in new media and games. In 2021, many internet companies were listed on the Indian stock exchange. Unicorn in the M & E sector is expected to enter the capital market through a list on the Indian stock exchange or through a list of spac in the United States in the next 2-3 years, the FICCI EY report said.
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