Naman Ramachandran India’s media and entertainment industry is expected to reach $73.6 billion by 2027 with a compound annual growth rate (CAGR) of 9.48%, says consultancy firm PwC’s “Global Entertainment & Media Outlook 2023-2027” report.
In terms of growth percentage, streaming leads the way with revenue surging 25% in 2022 to reach $1.8 billion. The market will continue to grow at 14% CAGR to produce revenue of $3.5 billion in 2027.
This will be driven by the competitive SVOD sector, which accounted for 78% of sector revenue in 2022, the report says, adding that while subscription service revenues will expand at 13% CAGR to reach $2.6 billion, ad-supported services (AVOD) will grow at a higher rate, albeit from a lower base.
Cinema, which touched a low of $402 million in 2021 during the pandemic, recovered to $1.1 billion in 2022 and is projected to grow 15% to reach $2.3 billion by 2027.
Read more on variety.com
Get the latest stars news and celebrity rumours with exclusive stories, photos, videos and interviews.
Breaking up, scandals, engagements, divorces, gossip – all you need to know about the private lives of your favorite celebs.
Get to know the latest showbiz news along with exclusive interviews and even more. All this is waiting for you on the main page 24 hours a day, 7 days a week! Who, where, when, with whom, how, why and for what!? Stay tuned to know first!
Just follow us daily and we will provide you with the current news from the life of famous stars and celebrities.
Owner: SNOWLAND s.r.o.
Registration certificate 06691200
Address:
Snowland s.r.o.
16200, Na okraji 381/41, Veleslavín, 162 00 Praha 6
Czech Republic
©2024. All rights reserved.