Entertainment

Trends to Expect from the Entertainment and Media Industry in the Next 5 Years

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The Indian entertainment and media industry is projected to reach INR 4,30,401 crores by 2026 with a CAGR of 8.8%. These statistics are taken from the PwC Global Entertainment & Media Outlook 2022-2026, the 23rd Annual Consumer and Advertiser E&M Spending Analysis and Forecast in 52 countries.

One fact that didn’t come as a surprise was that overall OTT revenue more than doubled in 2020 due to a lack of social entertainment as well as time spent at home due to the pandemic. The trend extended into 2021, when revenue almost doubled again. Despite the low growth rate, the market will continue to expand at a CAGR of 14.1% and reach INR 21,032 crores in 2026.

“The outlook for Indian media and entertainment over the next few years is quite unique. Digital media and advertising are growing at an impressive pace, driven by the deeper penetration of our marketplace by the Internet and mobile devices. At the same time, traditional media will maintain their steady growth rate over the next few years. We will see a completely different media and entertainment business profile and revenue models emerging in the digital space once we launch 5G,” said Rajib Basu, Partner and Head of Entertainment. and Media, PwC India.

In terms of newspapers and magazines, the total income of newspapers will increase by 2.7% per annum from Rs 26,378 crore in 2021 to Rs 29,945 crore in 2026. largest newspaper market by 2026. On the other hand, the outdoor advertising (OOH) market is showing one of the biggest comebacks in the world and is predicted to grow at 12.57% per annum to reach INR 5,562 crores in 2026.

Looking at the video game and esports industry, revenue was Rs 16,200 crore in 2021 and is projected to reach Rs 37,535 crore by 2026, up 18.3% on average. It is understood that the TV advertising market in India has been hit by the COVID-19 recession in 2020, resulting in a 10.8% decline from 2019 levels. But with the country returning to economic growth in 2021, it rose by 16.9% to Rs 32,374.

Indian cinema is forecast to grow at a staggering 38.3% CAGR over the forecast period and reach INR 16,198 crore by 2026, the highest of any segment.

Werner Ballhaus, Global Head of Entertainment & Media, PwC Germany, also commented on the E&M industry. “The industry press tends to focus on the companies that have dominated the E&M industry. But the choices billions of consumers make about where they will invest their time, attention, and money are fueling industry transformation and setting trends. We are seeing the emergence in the coming years of a global E&M consumer base that will be younger, more digital and more passionate about streaming and gaming than the current consumer population. This is shaping the future of the industry.”

Looking at emerging markets, the metaverse looms on the horizon. The virtual world we will be going to explore with our VR headsets is an evolution that could possibly change the entire human experience.



Photo by Julius Drost on Unsplash

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