What is the size of the Motion picture and broadcast Equipment Rental market in India?
Given the growth of the media and entertainment industry in India, it’s likely that the motion picture and broadcast equipment rental market is also experiencing growth, as companies and individuals look for high-quality equipment to produce content for film, TV, and digital platforms. For starters, renting a property eliminates the need to pay a large down payment, which can be difficult for some to come up with. Additionally, renters don’t have to worry about maintenance and repair costs, since these are typically taken care of by the landlord. According to a report by Ken Research, the Indian media and entertainment industry, which includes the motion picture and broadcast sectors, was valued at USD 24.3 billion in 2020 and is expected to grow at a CAGR of 10.09% from 2021 to 2026.
How has the business sustained itself in the Covid times? How has the recovery been post-Covid?
The livestreaming industry has experienced a significant boost during the COVID-19 pandemic, as many people were forced to stay at home and look for ways to connect with others remotely. With many people stuck at home due to lockdowns and social distancing measures, the demand for online entertainment and social connection has skyrocketed. Livestreaming platforms provide a way for people to connect with others, enjoy live performances, and participate in virtual events. The recovery post-COVID will depend on various factors such as the duration of the pandemic and the extent to which people will return to in-person events. However, it is likely that the livestreaming industry will continue to experience sustained growth even after the pandemic as people have become accustomed to the convenience and accessibility of livestreaming platforms.
This story is from the March 2023 edition of Digital Studio.
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This story is from the March 2023 edition of Digital Studio.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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