India’s M&E industry to clock over Rs 353,609 cr by 2022: PwC Report

According to PwC’s Global Entertainment & Media Outlook 2018-2022, the Indian entertainment & media industry is expected to reach Rs 353,609 crore by 2022, growing at a compound annual growth rate (CAGR) of 11.6 per cent between 2018 and 2022. 

“What is encouraging is how non-linear media is expected to grow on the back of increase in device penetration, lower Internet prices, consumer content demand and portability preferences. This will manifest in significant growth in OTT, e-sports and Internet advertising,” remarked Frank D’Souza, Partner & Leader – Entertainment & Media, PwC India. 

OTT: Despite problems with piracy, OTT video revenue has grown rapidly in recent years and reached Rs 2,019 crore in 2017. Further strong growth at a CAGR of 22.6 per cent will see India move into the top 10 largest global OTT video markets in 2022 with revenue of Rs 5,595 crore. The growing competition among international and regional Subscription on Demand Video (SVOD) platforms is evident with over 70 per cent of revenue in 2017 attributable to subscription services. This trend will grow and by 2022, 79.4 per cent of total market revenue is expected to be from SVOD. 

Internet Advertising: Total Internet advertising revenue hit Rs 6,513 crore in India in 2017, up a healthy 25.4 per cent over 2016. Over the next five years, total revenue will more than double to Rs 13,500 crore, driven by strong growth in mobile and paid search Internet advertising. Mobile video advertising is the fastest growing sub-segment of India’s Internet advertising market, rising at a CAGR of 32.8 per cent to 2022, when revenue will total Rs 2,155 crore.

Video Gaming: Indian Traditional Gaming is growing relatively slowly at just a 4 per cent CAGR, but the social/casual gaming category will represent 82.20per cent of all Indian Consumer gaming revenue by 2022. The segment is expected to grow by a 55.9 per cent CAGR over the forecast period from INR 1645 Cr to INR 14770 Cr by 2022 (surpassing the traditional market in 2018).

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