India Picture

The broadcast, media, and entertainment business is one of the fastest-growing industries in India and the sector has experienced significant growth over the past few decades. A vital contributor to the Indian economy, the creative sector is one of the major job creators with a total employment of approximately 6.5 million in 2022 contributing 8.3 percent to overall employment in India. The industry has the potential to double its direct workforce in the next five years.

Sneak peak of the broadcast, media and entertainment sector

• Over 1,000 television channels with over 215 million subscribers in India as of 2021.
• Over 800 plus radio stations in India, with the majority being private FM radio stations and government-owned All India Radio (AIR).
• Indian Film industry is the fifth largest in the world in terms of the number of films produced annually.
• India has more than 11900 theatres, including single screens and multiplexes.
• The digital media industry in India is growing rapidly, driven by the increasing penetration of internet and smartphones in the country.
• Over the past few years, there has been a dramatic increase in the number of people using streaming services such as Netflix, Amazon Prime Video and Hotstar. This is leading to an increase in investment in original and local content production.

Broadcasters, media, content, and infotainment producers worldwide are continuously searching for innovative strategies using the most up-to-date end-to-end solutions to stay ahead of the curve as well as for growing their viewership. The sector picked up momentum during the global pandemic and is still on the uptick as a result of increased domestic and foreign commercial investments. Additionally, the necessity of developing the talent pipeline and upskilling increased concurrently.

Technology has had a profound impact on the broadcast media and entertainment business, transforming the way content is produced, distributed, and consumed. From the creation of new platforms for content distribution to the use of advanced tools for content production, technology has enabled the industry to reach new heights. The continued evolution of technology and constant need for upgradation is expected to bring further changes and opportunities to the industry in the years to come.

Backed by rising consumer demand and improving advertising revenue, Indian M&E industry is on the cusp of a strong phase of growth.

Growth Drivers

The continuous growth and integration of technology to provide enhanced broadcasting and streaming services to the increasingly diverse audience is the driving factor for the broadcast, media technology market growth including

• Economic Development
• Overdrive of reversing pandemic-driven losses
• Technological Advancements
• Demand for Leisure & Quality Content
• Internet and Smartphone access
• Affordable Subscription Packages
• Rapid developments in online platforms
• Conducive Government policies allowing 100% foreign direct investment.

Market Opportunities

• Most diverse and vibrant media markets in the world
• Fastest growing market globally in terms of both consumer and advertising spend
• With a population of more than 1.3 billion, India represents a prime destination for broadcast, Media &Entertainment companies looking to expand.