The coronavirus pandemic hit India’s media and entertainment (M&E) sector, which shrank 24 per cent to Rs1.38 trillion in 2020, with revenues akin to levels seen in 2017. The contraction came despite a recovery in the last quarter. According to a joint report by the Federation of Indian Chambers of Commerce and Industry (Ficci) and consulting firm EY, the sector is expected to expand 25 per cent to touch Rs 1.73 trillion in 2021, and grow at a CAGR (compound annual growth rate) of 13.7 per cent to Rs 2.23 trillion by 2023.
The pandemic showed the resilience of subscription models against ad-based models. Across streaming apps, print and television, the share of subscriptions in total revenues rose to 51.5 per cent in 2020 from 49.7 per cent in 2019 , said the report titled Playing by new rules, India’s media and entertainment sector reboots in 2020.
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The pandemic showed the resilience of subscription models against ad-based models. Across streaming apps, print and television, the share of subscriptions in total revenues rose to 51.5 per cent in 2020 from 49.7 per cent in 2019 , said the report titled Playing by new rules, India’s media and entertainment sector reboots in 2020.
