June 7, 2023

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Indian Media & Entertainment Industry Valued at $26 Billion

The Indian media and amusement sector grew 20% to arrive at INR2.1 trillion ($26 billion) in 2022, 10% over pre-pandemic 2019, in accordance to the yearly EY report released throughout the ongoing Frames convention in Mumbai, arranged by the Federation of Indian Chambers of Commerce and Market.

The report collates details from television, electronic media, film, animation and VFX, out of household media, dwell gatherings, songs, radio, on-line gaming and print. Total, the M&E sector is projected to expand 12% to attain $28.6 billion in 2023, the report suggests.

While television remained the solitary most significant element of the M&E sector in 2022 with a valuation of $8.6 billion, it shrank 1.5% from 2021 degrees, inspite of marketing revenues growing 2% to access stages just driving 2019. The motive for the shrinkage is that subscription profits continued to tumble for the third calendar year in a row, reducing 4% owing to a reduction of five million pay out-Television properties and stagnant typical revenues for every user. Linear Television viewership declined 7% around 2021. Tv is projected to mature a little to $8.8 billion this year.

Electronic media was the second premier part of the sector, valued at $6.9 billion in 2022 and growing to $8.2 billion in 2023. On the digital infrastructure front, the report notes that web penetration improved by 4% to 866 million subscriptions in December 2022. With more than 800 million broadband subscriptions, India has the next biggest broadband subscriber foundation in the entire world, just after China. Smartphone people achieved 538 million in 2022, but growth slowed from mid-2021 because the common price of shopping for a smartphone improved, ensuing in just 35 million internet new smartphone additions during 2022. Some 32 million Indian homes had a wired broadband link.

On the streaming entrance, the report observes that movie viewers enhanced 6% (30 million) in 2022 to arrive at 527 million. In 2020, 30% of streaming originals were being in languages other than Hindi and this amplified to 50% in 2022. Some 3,000 hours of original articles was produced for streaming platforms, which is 19% better than 2021. Total on the internet online video content financial investment in India stood at $1 billion in 2022. There were 75 films that released on streaming platforms immediately, without a theatrical launch, which is reduce than the 100+ this kind of film releases in 2021.

Movie membership revenues grew 27% in 2022 to $832 million, paid out online video subscriptions attained 99 million in 2022, across 45 million households in India, with a full viewership of some 135 to 180 million end users, the report discovered.

In the meantime, buoyed by the good results of south Indian films like “RRR,” “K.G.F: Chapter 2,” “Kantara,” “Ponniyin Selvan: 1” and “Vikram” and Bollywood hits “Brahmastra: Portion One – Shiva,” “The Kashmir Documents,” “Drishyam 2” and “Bhool Bhulaiyaa 2,” filmed entertainment recovered to 90% of its pre-pandemic concentrations to file revenues of $2.1 billion. Of this, community theatrical revenues were $1.2 billion, abroad theatrical $196 million, broadcast legal rights $122 million, digital legal rights $440 million and in-cinema marketing $61.1 million.

In 2022, south Indian films, from the language teams Tamil, Telugu, Kannada and Malayalam, jointly accounted for 53% of box place of work, the Hindi-language Bollywood 35% and other Indian languages 5%. The share of Hollywood dropped from a superior of 15% in pre-pandemic 2019 to 13% in 2022. The report initiatives the filmed leisure phase to expand to $2.7 billion by 2025.

The animation phase grew 25% to get to $465 million in 2022, whilst VFX grew 30% to $611.7 million and India’s lively put up-production sector surged 35% to $232.4 million, the report notes.