RESILIENT AT THE CORE, transformed in its avatar, the Indian media & entertainment (M&E) sector began transitioning to a hybrid model during the 2020 crisis. New behaviours dictated business decisions, which then manifested into newer trends for the sector. In the short-term, very positive signs emerged but the concern of the long-term remained. What was here to stay, what would revert to the pre-Covid normal, and how will the composition of the sector balance itself.
Numbers indicate that the sector is on the cusp of a strong growth phase, backed by rising consumer demand and improving advertising revenue. According to a FICCI-EY report, the advertising to GDP ratio is expected to reach 0.4 per cent by 2025 from 0.38 per cent in 2019, which in the backdrop of the crisis, is a healthy number. The overall M&E sector is estimated to have reached Rs 1.73 trillion in 2021, and projected to grow to Rs 2.23 trillion by 2023. Accelerated digital adoption across parameters drove this trend but what truly stood out was the cross-media growth.
New Sectors Grow, Legacy Grows Too
This story is from the 26 Jan 2022 edition of Businessworld.
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This story is from the 26 Jan 2022 edition of Businessworld.
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