MEDIA TO SEE REVENUE SHORTFALL OF `25,000 CRORE

Media and entertainment revenues may see a shortfall of around Rs 25,000 crore this fiscal. Except digital, all the media will witness decline in revenues.

The media and entertainment industry might see its revenues coming down by 16 per cent, or Rs 25,000 crore, to Rs 1.3 lakh crore in FY21 from an estimated revenue of Rs 1.5 lakh crore in FY20, finds rating agency Crisil.

According to Crisil, the industry, which was suffering from the pangs of a slowing economy, has been hit by the pandemic and lockdown.

Television, which accounts for the largest chunk of revenues, will witness a drop from Rs

80,700 crore to Rs 73,300 crore this fiscal, down by 9 per cent. For TV, impact on ad revenue will also be because of lack of new content on popular channels and postponement of major sporting events such as the Indian Premier League.

Print will see a drop of

21.6 per cent from Rs

30,900 crore to Rs 24,200 crore. For newspapers, longer recovery time for key advertiser-industries such as automobiles, real estate and e-commerce would keep ad spend muted.

Films will see a sharper fall of 46 per cent from Rs

23,600 crore to Rs 12,700 crore. With the increased use of devices and applications, digital media will see its revenues growing from Rs 14,000 crore to Rs

15,200 crore, a growth of

8.57 per cent. Advertisements, which account for 45 per cent of the revenues, will see a sharper cut of 18 per cent, while subscription revenue will decline by 14 per cent.