M&E industry to hit Rs 2 tn by 2020, print touches Rs 303-bn

The media and entertainment (M&E) industry grew by almost 13 per cent and touched 1.5 trillion in 2017, the latest report on M&E showed. The industry is expected to cross Rs 2 trillion ($31 billion) by 2020, at a CAGR of 11.6 per cent.

According to FICCI-EY report ‘Re-imagining India's M&E sector, the digital segment-led growth resulted in change in consumption pattern. So there were changes in the advertising budgets which were in line with the changing content consumption patterns. The report said that subscription growth outpaced advertising growth in 2017 but advertising will continue to grow led by digital advertising.

The print media grew at 3 per cent to reach Rs 303 billion in 2017, the report showed. The print media is estimated to grow at an overall CAGR of approximately 7 per cent till 2020. With vernacular taking the lead at 8-9 per cent growth and English slightly slower.

The TV industry touched Rs 660 billion in 2017, a growth of 11.2 per cent. Adding to it, is the huge figures of the Indian film segment which grew at 27 per cent in 2017 backed by the box office growth coupled with increased revenues from sale of satellite and digital rights.

In digital media, subscription revenues are emerging and are expected to make their presence felt by 2020. In 2017, digital media grew 29.4 per cent over 28.8 per cent growth in advertising and a 50 per cent growth in subscription. “By 2020, we expect 4 million digital-only consumers who, along with millions of other tactical and mass customers will generate subscription revenue of Rs 2,000 crore," it said.