Media and entertainment (M&E) sector grew to Rs 1.67 lakh crore in 2018, a growth of 13.4 per cent over 2017, says a recent report by EY and industry body FICCI. The report says that at the current trajectory, the sector is expected to cross Rs 2.35 lakh crore by 2021, at a CAGR of 11.6 per cent.
"The sector continues to grow at a rate faster than the GDP, reflecting the increasing disposable income and economic growth. While television retained its position as the largest segment, growth is expected to come from digital which will overtake filmed entertainment in 2019 and print by 2021," it said.
According to the report, approximately 25 lakh consumers in India today are digital-only and would not normally use traditional media; it expects that this customer base will grow to about 50 lakh by 2021.
Here are other key findings of the report: