In Numbers

Indian media and entertainment industry clocks 13% growth to reach INR 1.67 trillion in 2018: FICCI-EY report.

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The most significant impact today within the localisation space is in the realms of Artificial Intelligence (AI) and Machine Learning (ML). There are machines and software available today that not only understand spoken words and convert them to text, but also translate them to a target language. Many of these tools have advanced learning capabilities that help them improve their output over time, when used by a large number of practitioners.

The Federation of Indian Chambers of Commerce & Industries India, recently concluded its 20th edition of ‘FICCI FRAMES 2019.’ The Indian media and entertainment (M&E) sector reached INR 1.67 trillion (USD 23.9 billion) in 2018, a growth of 13.4% over 2017, states the FICCI-EY report.

With its current trajectory, the M&E sector in India is expected to cross INR 2.35 trillion (USD 33.6 billion) by 2021, at a CAGR of 11.6%. 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. The report captures key insights from the exciting and fast-growing Indian M&E sector.

The sector continues to grow at a rate faster than the GDP, reflecting the increasing disposable income and economic growth. India has the second highest number of internet users after China, with 570 million internet subscribers growing at 13% annually. The report estimates that approximately 2.5 million consumers in India today are digital only and would not normally use traditional media. It is expected that this customer base will to grow to 5 million by 2021.