• Media
    • Exclusive
    • Buzz
    • Movers & Shakers
    • Events
    • International
  • FOCUS 2021
  • Television
  • Advertising
    • PR
    • Mobile/Digital
      • Marketing
  • Radio
  • OTT
  • Print
  • Cable & DTH
  • Brand Stories
  • Leaderspeak
  • STRAIGHT TALK
  • My Column
Friday, January 22, 2021
MediaNews4U
  • Media
    • Exclusive
    • Buzz
    • Movers & Shakers
    • Events
    • International
  • FOCUS 2021
  • Television
  • Advertising
    • PR
    • Mobile/Digital
      • Marketing
        • Market Analysis
  • Radio
  • OTT
  • Print
  • Cable & DTH
  • Brand Stories
  • Leaderspeak
  • STRAIGHT TALK
  • My Column
No Result
View All Result
MediaNews4U
  • Media
    • Exclusive
    • Buzz
    • Movers & Shakers
    • Events
    • International
  • FOCUS 2021
  • Television
  • Advertising
    • PR
    • Mobile/Digital
      • Marketing
        • Market Analysis
  • Radio
  • OTT
  • Print
  • Cable & DTH
  • Brand Stories
  • Leaderspeak
  • STRAIGHT TALK
  • My Column
No Result
View All Result
MediaNews4U.com
No Result
View All Result
Home Exclusive

India will be among 10 Entertainment and Media markets globally by 2021: ASSOCHAM-PwC study

by Editorial
April 1, 2019
in Exclusive, Featured, Market Analysis
2 min read
Indian video OTT market to witness CAGR of 22.6% during 2017-22; TV to clock CAGR of 10.6%: ASSOCHAM-PwC Study

Share Share ShareShare

India’s Media and Entertainment per capita spend will be capped at 32 USD by 2021

New Delhi: India’s per capita Media and Entertainment spending will be capped at a mere 32 dollars by 2021 compared to 222 dollars in China and 2,260 dollars in the United States, according to an ASSOCHAM-PwC joint study.

India is one of the fastest growing entertainment and media territories in the world, with a CAGR of 11.7% from 2017 to 2022, growing from 30,363.72 million USD (19,78,045 million INR) in 2017 to 52,683.15 million USD (34,32,044 million INR) in 2022.  It is set to be in the top 10 entertainment and media markets globally by 2021 in terms of absolute numbers, noted ASSOCHAM-PwC joint study on ‘Video on Demand: Entertainment reimagined’.

India’s per capita media and entertainment spend will be capped at 32 USD (2,080 INR) by 2021 as nominal GDP per capita reaches 2,560 USD (1,66,400 INR) for the projected year. The spend is much lower than that of China, which will stand at 222 USD (14,430 INR) for the same period, and that of the USA, which will have the highest spend at 2,260 USD (1,46,900 INR).

According to joint study, SVOD and TVOD will collectively grow from 296.69 million USD (19,328 million INR) in 2017 to 823.25 million USD (53,630 million INR) in 2022 at a CAGR of 22.6%, with SVOD holding a majority share throughout the projected period.

With multiple platforms to choose from, consumers are spoilt for choice. However, OTT platforms do not just compete amongst themselves, but also with DTH players. In recent times, there have been new opportunities or areas of growth for VoD services. With increasing traffic in metro cities, the time spent on viewing videos is also on the rise. Cab aggregators have installed tablets inside their cabs with a wide range of curated content for passengers at no additional cost, noted the joint study.

Globally, the OTT landscape is projected to grow at 10.1% from a base of 36,021.11 million USD (23,46,595 million INR) in 2017 to 58,369.29 million (3,802,467 million INR) in 2022. The VoD market is well established in many markets such as the USA. Though the USA will remain the largest OTT market globally over the next 5 years, strong growth rates in SVOD platforms globally will reduce its dominance. Cord cutting has been slower than expected, but it is still happening at a much faster rate than in countries like India. In markets like the USA, Internet usage to access television content has increased drastically.

However, consumers are also increasingly overwhelmed by the sheer proliferation of available services. On the other hand, the relative lack of pay TV options is comforting for the OTT industry as more and more consumers get inclined towards bundled services. In developing markets like India, television and OTT will continue to coexist in the near future, with television continuing to hold the larger piece of the pie. Although cord cutting is far from becoming a widespread phenomenon in the country, OTT services will ride on the cord-never audience as the majority of the country’s population is under the age of 35.

The coming generations would directly get hooked to VoD as opposed to previous generations, which started with television as the main source of entertainment. While in developed countries like the USA, a majority of VoD consumers access paid content through the largest player, Netflix, in India, Hotstar leads the market, with a majority of its viewers coming onto the platform to watch content for free. India’s immediate neighbour China is the second largest OTT market in the world.

Tags: ASSOCHAM-PwC studyEntertainment and Media marketsper capita media and entertainment spend

Related Posts

Bengali Actor Prosenjit Chatterjee stars in Tata Pravesh’s 2nd series of influencer films #AkelaHiKaafiHai
Brand Stories

Bengali Actor Prosenjit Chatterjee stars in Tata Pravesh’s 2nd series of influencer films #AkelaHiKaafiHai

by Editorial
January 22, 2021
0

New Delhi: Earlier this month, Tata Pravesh, embarked on a multi-media campaign titled #AkelaHiKaafiHai, in an attempt to drive brand...

Read more
Justice Gita Mittal named Chairperson of Broadcasting Content Complaints Council
Exclusive

Justice Gita Mittal named Chairperson of Broadcasting Content Complaints Council

by Editorial
January 22, 2021
0

New Delhi: The Board of Directors of Indian Broadcasting Foundation (IBF) has appointed Justice Gita Mittal, former Chief Justice of Jammu & Kashmir...

Read more
The platform was launched with a vision of filling the existing gap in the digital entertainment space: Sudip Mukherjee, Biiggbang Amusement

The platform was launched with a vision of filling the existing gap in the digital entertainment space: Sudip Mukherjee, Biiggbang Amusement

January 22, 2021
TAM AdEx: LIC topped among both advertisers and brands on Radio during 2020

TAM AdEx: LIC topped among both advertisers and brands on Radio during 2020

January 22, 2021
Sony YAY! is all set to explore new dimensions in the ever-changing kids’ entertainment domain and welcome 2021 with a bang

Sony YAY! is all set to explore new dimensions in the ever-changing kids’ entertainment domain and welcome 2021 with a bang: Leena Lele Dutta

January 21, 2021
Adapting to the new normal, and how the real world will subsume in the newly necessitated virtual world is what will drive the way forward: Dinesh Chhabra

Adapting to the new normal, and how the real world will subsume in the newly necessitated virtual world is what will drive the way forward: Dinesh Chhabra

January 21, 2021
Ashok Namboodiri

ZEE Entertainment appoints Ashok Namboodiri as Chief Business Officer for International Business

January 20, 2021
Great ideas make a splash in society and for our clients: Indrajeet Mookherjee

Great ideas make a splash in society and for our clients: Indrajeet Mookherjee

January 20, 2021

Subscribe to Newsletters

Trending

Zee Kannada to telecast new serial ‘Sathya’ on 7th December
Featured

Zee Kannada to telecast new serial ‘Sathya’ on 7th December

by Editorial
December 3, 2020
0

Bangalore: Kannada GEC Zee Kannada is all set to telecast 'Sathya' new serial from 7th December at 9:00 PM only...

ABP Network forays into creative content business with ‘ABP Studios’

ABP Network forays into creative content business with ‘ABP Studios’

January 22, 2021
RepIndia

RepIndia rewards its employees with special holidays for their consistent support during the pandemic

January 22, 2021
Ashok Namboodiri

ZEE Entertainment appoints Ashok Namboodiri as Chief Business Officer for International Business

January 20, 2021
Zivame launches 'No Strings Attached with Zivame!' campaign in collaboration with Prashasti Singh

Zivame launches ‘No Strings Attached with Zivame!’ campaign in collaboration with Prashasti Singh

January 22, 2021

Contact Us :

UPLIFT MEDIANEWS4U DIGITAL PVT LTD

No. 82, Aram Nagar 2, JP Road

Versova, Andheri West

Mumbai – 400061

Umanath.V
+91-99400-17868
umanath@medianews4u.com

© 2019 medianews4u.com

No Result
View All Result
  • Media
    • Exclusive
    • Buzz
    • Movers & Shakers
    • Events
    • International
  • FOCUS 2021
  • Television
  • Advertising
    • PR
    • Mobile/Digital
      • Marketing
  • Radio
  • OTT
  • Print
  • Cable & DTH
  • Brand Stories
  • Leaderspeak
  • STRAIGHT TALK
  • My Column

© 2021 JNews - Premium WordPress news & magazine theme by Jegtheme.