The Indian media and entertainment industry is estimated to touch USD 52,683 million (around Rs 3.73 lakh crore) by 2022 led by increasing disposable income, population and content consumption across the formats, according to a survey.
Besides the traditional media such as TV and cinema, new-age digital platforms such as over-the-top (OTT) services would play a key role, said an Assocham-PwC joint study.
By 2022, the Indian video OTT market will be among the top-10 markets globally with a market size of USD 823 million (Rs 5,363 crore), said the study.
“The entertainment and media industry is projected to grow at a CAGR of 11.7 per cent from USD 30,364 million in 2017 to USD 52,683 million in 2022,” the report said.
It further added: “TV, cinema and OTT will collectively account for 46 per cent of the overall growth in the Indian entertainment and media industry for the period 2017 to 2022.”