The global Media & Entertainment (M&E) industry is experiencing a roaring revival, projected to surpass its pre-pandemic size by 2025. Led by a strong resurgence in the U.S. with a market size of $717 billion, and fuelled by transformative shifts in consumer habits, the world's M&E market is estimated to reach a staggering $2.9 trillion by 2027.
India, a shining star in this global resurgence, boasts a thriving M&E sector valued at INR 2.1 trillion in 2022. With a projected CAGR of 9.7% until 2027, it's expected to reach a phenomenal USD 73.6 billion, further solidifying its position as a global leader.
KEY DRIVERS OF GROWTH
Digital Consumption Explosion: The pandemic sparked a surge in digital media consumption, and these habits are here to stay. Streaming platforms like Netflix and Disney+ Hotstar are dominating the landscape, while data usage in India alone is projected to skyrocket to 979.1 petabytes by 2027.
India's Rising Middle Class: With a burgeoning middle class and increasing disposable income, India's demand for high-quality entertainment is skyrocketing. This creates a fertile ground for local content creators and global players alike.
Technological Advancements: From virtual reality experiences to Al-powered production, cutting-edge technologies are revolutionizing the industry. This opens up new avenues for immersive storytelling and personalized entertainment experiences.
While challenges like content localization and evolving regulations remain, the future of M&E is undeniably bright. With a resilient global market and India's exceptional growth trajectory, the stage is set for an era of innovation, creativity, and boundless entertainment possibilities.
Bu hikaye Digital Studio dergisinin February 2024 sayısından alınmıştır.
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