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1、For updated information,please visit www.ibef.orgNovember 2024MEDIA AND ENTERTAINMENT2Executive Summary3Advantage India 4Market Overview 6Recent Trends and Strategies15Growth Drivers19Opportunities 28Key Industry Contacts31Appendix33Table of Contents3Executive summaryBroadcasting marketsIn the Inter

2、im budget of 2024-25 theMinistry of Information and broadcastingreceivedRs.4,342.55crore(US$523.20 million).The allocation to Prasar Bharati stood atRs.2,808.36 crore(US$338.36 million)in FY23.Under the Union Budget 2023-24:o The budget for other autonomous bodiessuch as the Press Council of India s

3、toodat Rs.27 crore(US$3.52 million),Filmsand Television Institute of India(FTII)atRs.55.39 crore(US$7.18 million)andIndian Institute of Mass Communicationat Rs.52 crore(US$6.79 million).o The allocation for broadcasting undersocial services stood at Rs.2,839.29crore(US$370.98 million).o Information

4、and publicity was allocatedfundsworthRs.942.04crore(US$123.10 million).Fast growing Gaming industryThe online gaming segment grew 22%to become the fourth largest segment of the Indian M&E sector in 2023,displacing filmed entertainmentAs per the EY report over the past three years,the online gaming i

5、ndustry in India has grown at a CAGR of 28%,reaching US$1.97 billion(Rs.16,428 crore)and is likely to reach US$3.99 billion(Rs.33,243 crore)by FY28.Indias gaming sector is currently valued at around US$3.1 billion and expected to grow to US$8.92 billion in the next five years.As per EY-FICCI report,

6、the number of employees in the online gaming sector was 100,000 in 2023,and this figure is projected to increase to 250,000 by 2025.Digital and OTTIn 2024,the projected revenue in theDigital Media market in India is expectedto reach US$10.07 billion.As per the COTT 2023 Annual Report,thedigital reve

7、nue for the year stood at anUS$7.59 billion(Rs.63,200 crore).Out ofthisrevenue,therewasasignificantcontributionfromvariousstreamswithUS$3.82 billion(Rs.31,800 crore)weregenerated from AVOD(Advertising-basedVideoonDemand)andSVOD(Subscription-based Video on Demand)platforms,with AVOD accounting for US

8、$2.63 billion(Rs.21,900 crore)and SVODfor US$1.19 billion(Rs.9,900 crore)respectively.By 2025,600-650 million Indians,willconsume short-form videos,with activeusers spending up to 55 to 60 minutes perday.IntheIndian OTTVideo market,thenumber of users is projected to reach634.3 million by 2029.User p

9、enetration isforecasted to be 34.1%in 2024 and isprojected to increase to 42.2%by 2029.The OTT segment is likely to grow at aremarkable CAGR of 14.1%to reach Rs.21,032 crore(US$2.55 billion)in 2026.Subscription services,which accounted for90.5%of revenue in 2021,are projected toaccount for 95%of rev

10、enue by 2026.Indian OTT audience comprises of 481.1million(or48.11crore)peoplewhichtranslated into a penetration of 34%.4Advantage India5Source:DPIIT,ICE 360 Survey 2016,Blue Star Investor Presentation August 2018,*BARC India Universe Update July 2018,Bombay Stock Exchange,News ArticleAdvantage Indi

11、a FDI inflows in the information andbroadcasting sector(including printmedia)stood at US$10.99 billionbetween April 2000-March 2024.In the Interim budget of 2024-25 theMinistryofInformationandbroadcastingwasallocatedRs.4,342.55 crore(US$523.20 million).The allocation to Prasar Bharati stoodat Rs.2,8

12、08.36 crore(US$338.36million)in FY23.The Indian gaming sector has raisedatotalofUS$2.8billionfromdomestic and global investors,overthe last five years.1.Higher Investments On February 25,2021,the governmentoutlinedtheInformationTechnology(Intermediary Guidelines and Digital MediaEthics Code)Rules 20

13、21 to establish aprogressive institutional mechanism and athree-tier grievance redressal frameworkfor news publishers and OTT platforms onthe digital media.The Government has increased the FDIlimit from 74%to 100%.InFebruary2024,theUnionCabinetapprovedtheauctionof10,523.15megahertz(MHz)ofspectrumacr

14、ossbands at a reserve price of Rs 96,317.65crores(US$11.60 billion).4.Policy Support Revenue of the Indian video OTT market that isdominated by players such as Amazon PrimeVideo,Netflix and Disney+Hotstar is set todouble from US$1.8 billion in 2022 to US$3.5billion by 2027.The Indian media and enter

15、tainment industry isanticipated to reach US$24-100 billion by2030.Indias Animation and VFX sector is projected togrow from US$1.3 billion in 2023 to US$2.2billion by 2026,increasing its share of themedia and entertainment(M&E)industry from5%to 6%,according to a CII GT report.The Indian mobile gaming

16、 market is poised toreach US$7 billion,in value,by 2025.3.Attractive Opportunities Thecountrysentertainmentandmediaindustry is expected to see a growth of 9.7%annually in revenues to reach US$73.6billion by 2027.According to a report published by IAMAIand Kantar Research,India internet usersare expe

17、cted to reach 900 million by 2025,from 622 million internet users in 2020,increasing at a CAGR of 45%until 2025.Theadvertising-basedvideoondemand(AVoD)segment is expected to rise at aCAGR of 24%to reach US$2.6 billion by2025.AccordingtoaFICCI-EYreport,theadvertising to GDP ratio is expected to reach

18、0.4%by 2025 from 0.38%in 2019.2.Robust DemandADVANTAGE INDIA14326Market OverviewMARKET OVERVIEW7The entertainment sector is split into ten segmentsSource:KPMG-FICCI Report,2018,EYs Media and Entertainment report 2019Media&EntertainmentTelevisionOnline GamingAnimation and VFXOut of Home(OOH)MusicDigi

19、tal MediaRadioNote:VFX-Visual EffectsPrintLive EventsFilms Entertainment8Indian media and entertainment industry is growing rapidlyThe Indian Media&Entertainment(M&E)sector is set for substantialgrowth,with a projected 10.2%increase,reaching Rs.2,55,000 crore(US$30.8 billion)by 2024 and a 10%CAGR,hi

20、tting Rs.3.08 trillion(US$37.2 billion)by 2026,Media and entertainment industry is expected to see a growth of 9.7%annually in revenues to reach US$73.6 billion by 2027,according to aPwC report.Indias media and entertainment industry is the fifth largest marketglobally and is growing at the rate of

21、20%annually,according to UnionInformation and Broadcasting Minister Mr.Anurag Thakur.As per the latest report by the EY,Indias Media and EntertainmentIndustry is expected to grow 10.2%to reach Rs.2,55,000 crore(US$30.72 billion)by 2024,then grow at a CAGR of 10%to reach Rs.3,08,000 crore(US$37.11 bi

22、llion)by 2026.Indias OTT video industry is expected to reach Rs.21,032 crore(US$2.63 billion)by 2026.Indias newspapers and consumer magazines industry is expected toreach Rs.29,945 crore(US$3.756 billion)by 2026.Indias gaming market grew 23%YoY to US$3.8 billion in revenue inFY24.Television will acc

23、ount for 40%of the Indian media market in 2024,followed by print media(13%),digital advertising(12%),cinema(9%),and the OTT and gaming industries(8%).Media companies are projected to achieve an 8%revenue growth,reaching US$7.14 billion(Rs.60,000 crore)by FY27,driven byincreasing contributions from t

24、he digital segment,according to a Crisilanalysis of 20 companies that account for 55%of the media industrysrevenue.23.0125.8327.9230.7637.2005101520253035402019202220232024P2026PSource:EY report,BCG reports,PwC ReportNotes:P-Projected,CAGR is calculated from Rs.figuresMarket Size(US$billion)9Segment

25、s Of Indian Media And Entertainment Industry30.0%28.2%11.2%9.5%8.5%4.9%3.8%1.8%1.0%1.0%TelevisionDigital mediaPrintOnline gamingFilmed entertainmentAnimation and VFXLive eventsOut of Home mediaRadioMusicSource:EY report March 2023 The share of traditional media(television,print,filmed entertainment,

26、live events,OOH,music,radio)stood at 57%of M&E sector revenues in2023.In 2023,television,digital,and print contributed 69.4%to the total media and entertainment industry revenue.By FY26,the share of digital media is expected to increase to 31.0%from 28.2%in FY23.Television will account for 24.9%of t

27、he Indian media market in 2026.According to Media Partners Asias Asia Pacific Video&Broadband Industry 2024 report,Indias video market,encompassing both TV and digital,is projected to grow from$13 billion in 2023 to$17 billion by 2028.24.9%31.0%9.3%12.6%7.7%6.0%4.6%1.8%0.9%1.2%TelevisionDigital medi

28、aPrintOnline gamingFilmed entertainmentAnimation and VFXLive eventsOut of Home mediaRadioMusicNotes:P-ProjectedShare of Major Industry Segments 2023Share of Major Industry Segments 2026P10Television,one of the largest and fastest growing segments3.833.583.713.984.724.814.945.240123456789102022202320

29、24E2026EAdvertisingDistributionSource:EY report March 2022 In 2023,the television market size stood at US$8.14 billionand is estimated to reach Rs.76,600 crore(US$9.23billion)by 2026.In 2023,the number of connected TV sets grew by 35million.TV distribution revenue is expected to increase to Rs.43,50

30、0 crore(US$5.24 billion)in 2026,from Rs.39,200crore(US$4.72 billion)in 2022.TV advertising is expected to increase to Rs.33.000 crore(US$3.98 billion)in 2026,from Rs.31,800 crore(US$3.83billion)in 2022.Notes:E-EstimatedBroadcaster Market Size Forecast(US$billion)Advertising Revenue(US$billion)3.81 3

31、.87 5.42 4.95 4.77 4.94 202220232024EAd RevenueSubscription RevenueAdvertising revenue in India is projected to reach Rs.33,000 crore(US$3.98 billion)by 2024.In FY23,Advertising grew 7%and crossed Rs.1,10,000 crore(US$13.25billion),while subscriptions grew by 9%.As per Media Partners Asia(MPA)report

32、 India is the top performer,with aprojected 10.4%growth in 2024 and 9.0%CAGR over 2024-29 amongChina,Japan,India,Australia,Korea,Indonesia,and Vietnam markets.Indias subscription revenue is projected to grow at a CAGR of 2%andreach Rs.43,200 crore(US$4.94 billion).Disney-owned Star India secured the

33、 TV broadcasting rights for the IndianPremier League from 2023 to 2027 through an online bid.During the sameperiod,Viacom 18 won the bid for the digital streaming rights of theTwenty20 League.11Gaming and digital advertising on high growth phase Source:EY report March 2023Note:VFX-Visual Effects,OOH

34、-Out-of-home advertising,CAGR is calculated from Rs.figureAnimation&VFX,online gaming and OOH are emerging as thefastest-growing segments.Mr.ApurvaChandra,Secretary,MinistryofInformation&Broadcasting,Government of India announced that the government isworking to soon bring an Animation,Visual Effect

35、s,Gaming andComic(AVGC)policy and create an AVGC Mission.Indias gaming sector is currently valued at around US$3.1 billionand expected to grow to US$8.92 billion in the next five years.Between 2023-26,these segments are expected to witness growth(CAGR):Digital media(13.5%)Animation and VFX(17.5%)Onl

36、ine gaming(20.7%)OOH(9.3%)The online gaming market in India is projected to reach US$4.67billion by 2026.India recorded about 455 million online gamers in the year 2023.Thiswas an eight percent growth from the previous year and is likely toreach over 491 million by 2024.About 90 million of these gam

37、ersreportedly paid for online games that year.SME marketers increased their digital advertising spending andexpanded their use of online shopping channels such as Amazon andFlipkart.3.71 6.88 7.88 9.05 11.51 1.14 1.29 1.37 1.59 2.23 0.78 2.18 2.65 3.24 4.67 0.47 0.45 0.51 0.57 0.65 02468101214201920

38、2220232024E2026EDigital mediaAnimation and VFXOnline gamingOut of Home mediaIndustry Size of Emerging Segments(US$billion)12Rising online video subscription market in India41%24%9%7%4%4%3%1%1%1%5%Disney+HotstarEros NowAmazon Prime VideoNetflixZEE5ALTBalajiSonyLIVApple TV+YuppTVVoot SelectOthersThe I

39、ndian OTT audience universe currently stands at 481.1 millionpeople,Of these,138.2 million are active paid OTT subscriptions inIndia.India OTT Market Size was valued at US$200.5 Billion in 2022.TheOTT market industry is projected to grow from US$234.9 Billion in2023 to US$836.5 Billion by 2032,displ

40、aying a CAGR of 17.20%during 2023-32.In the year 2023,the revenue from subscriptions for over-the-top videoplatforms across India amounted to approximately US$0.88 billion.This was expected to peak at over US$1.2 billion by 2026Indias SVOD subscriptions reached 130.2 million in 2022 compared to110.5

41、 million in 2021.In 2022,Disney+Hotstar led the Indian SVOD market,with a 50%share in the total market.Disney+Hotstar was followed by Eros Now,with a 24%share,andAmazon Prime Video with a 9%share.The report estimated that 90%of subscriptions for Eros Now werebundled users.The company leveraged strat

42、egic collaborations withdomestic telcos,such as BSNL,Idea Cellular,and Reliance Jio,andpay-TV operators such as Tata Sky Binge+,Airtel and Xstream.Media company Shemaroo Entertainment is planning to spend Rs.75crore(US$9.1 million)in FY24 to bolster its broadcast and over-the-top(OTT)businesses.In A

43、ugust 2023,Netflix inked a“first-of-its-kind”deal with Jio Platforms to bundle the streaming service with the carriers two pay-as-you-go plans as the American giant pushes to expand its subscriber base in the key Asian market.Source:India:Online Video Trends and Omdia Consumer Research Highlights re

44、port,Omdia 2020Online video subscription platform,subscription share in India 202113Music industry18126528933744601002003004005002019202220232024P2026PThe music industry is expected to reach US$445 million by 2026from US$180 million in 2019.About 1 million music streams were played every 3 minutes i

45、nFY23,totaling 460 million streams per day,according to a report byRedseer Strategy Consultants.Spotify led Indias music and audio streaming market in FY23 witha 26%share,as compared to just an 11%share in FY20.Growth of the sector is attributable to the trend of platforms such asYouTube that contin

46、ues to offer recent and video content-linkedmusic for free,which drove the paid OTT music sector reaching 5million end-users by 2023,generating revenue of Rs.200 crore(US$27 million).According to a study conducted by Kantar and VTION,an audience measurement and analytics company,Gaana,the streaming

47、service owned by Times Internet Ltd.,had a 30%market share,followed by JioSaavn(24%),Wynk Music(15%),Spotify(15%),Google Play Music(10%),and others(6%)in 2020.The Ficci EY media and entertainment report 2023 said that in 2023,music streaming in India had an audience of approximately 185 million of w

48、hich the paid subscriber base was just around 7.5 million.Source:EY report March 2023,News ArticlesNote:P-Projected,CAGR is calculated from Rs.figuresRevenues for Music Industry(US$million)30%24%15%15%10%6%GaanaJioSaavnWynk MusicSpotifyGoogle Play MusicOthersIndias audio streaming market share in 20

49、2014Key players in the media and entertainment industryTelevisionPrintFilmsMusicStar India Pvt Ltd.Bennett,Coleman and CoLtd.Yash Raj Films StudiosSaregama India Ltd.Zee Entertainment Enterprises Ltd.HT Media Ltd.Eros InternationalMedia Ltd.Super Cassettes Industries Ltd.Multi Screen Media Pvt Ltd.L

50、iving Media India Ltd.Red Chillies Entertainments Pvt Ltd.Tips Industries Ltd.Source:Company websites15Recent Trends and StrategiesRECENT TRENDS AND STRATEGIES16Notable trends in the media and entertainment industrySource:CEAMA,Electronic Industries Association of India,Economic Times,*EY Re-imagini

51、ng Indias M&E sector,National Policy on Electronics 20191.TELEVISIONIndiasDirect-To-Home(DTH)Servicesmarketisexpectedtoexpand to US$7.59 billion in 2029fromUS$6.48billionin2023,growing at a CAGR of 2.8%.In FY22,TV penetration in Indiastood at approximately 70%drivenby DTH market.In FY20,DTHregistere

52、d a market2.EMERGING STAKEHOLDERS IN CLOUD GAMINGThe online gaming segment grew 22%in 2023 to reach Rs.22,000 crore(US$2.65 billion).It is the fourth largest segmentof the Indian M&E sector.The count of online gamers in India grew to reach 455 million in2023 and of these,around 100-110 million are f

53、requent playersof games.Digital Gaming India Expo 2023 saw participation from leadinggaming companies across the world and showcased work onleading technologies like AR/VR,blockchain,NFT,robotics,digital gaming,and more.India has seen the emergence of over1,000 gaming studios and game development co

54、mpanies.Sony Interactive Entertainment(SIE)launched the Sony IndiaHero Project to support Indian game developers.The Krafton India gaming incubator fund has made an outlay ofUS$50,000 to US$150,000 per investment.12344.REGIONAL LANGUAGE STREAMING SERVICESMusic from South Indian languagessuch as Kann

55、ada,Malayalam,Tamil,and Telugu has witnessed the fastestgrowth in the vernacular in the lastfouryearsinFY23.Thehighestcontributor to OTTA with the non-filmgenrewasPunjabimusic(39%)across all states.In February 2022,Spotify announcedtostreamsongsin12Indianlanguages(includingHindi)onitsplatform.Accord

56、ing to FICCI-EYs 2022 media&entertainment industry report,theshareofregionallanguageconsumption on OTT platforms willcross 60%of the total time spent by2025.3.DIGITAL AND OTT VIDEODespite a slowing economy,robust growth in digital infrastructure andcontent supply digital and OTT ads increasing by 31

57、.6%in FY22.Over 43 million Indian households paid for 97 million OTT videosubscriptionsin 2023.The video OTT market was valued at US$3.03 billion in FY22.17OTT on an uptrend post-digitisationGrowing mobile and smartphone penetration has boosted adaptation ofonline video viewing in India.Indian Over-

58、The-Top(OTT)platforms have demonstrated significantgrowth in the global market,witnessing a 194%increase in revenue frominternational viewers over the past few years.Revenue of the Indian video over-the-top(OTT)market that is dominatedby players such as Amazon Prime Video,Netflix and Disney+Hotstar

59、isset to double from US$1.8 billion in 2022 to US$3.5 billion by 2027,according to PwCs latest report.By 2025,the number of connected smart televisions are expected toreach 40-50 million.30%of the content viewed on these screens will begaming,socialmedia,shortvideoandcontentitemsproducedexclusively

60、for this audience by television,print and radio brands.OTT video services market(video-on-demand and live)in India is likelyto grow US$4.1 billion in 2024 and reach US$7 billion by 2027,drivenby rapid developments in online platforms and increased demand forquality content among users.OTT users in I

61、ndia are estimated at 353 million and active paidsubscriptions at 96 million,translating to a 25.3%penetration.According to PwC,the OTT market is expected to reach Rs.21,032 crore(US$2.57 billion)by 2026.Video viewers increased 7%(36 million)in 2023 to reach 563 million,which is around 98%of smartph

62、one owners and wired broadbandsubscribersTotal online video content investment in India stood at Rs.12,500 crore(US$1.51 billion)in 2023,representing a 52%increase over 2022 due tomore than a twofold growth in sports rights values.Notes:E-Estimate,P-Projected,OTT-Over-the-top content,SVOD-Subscripti

63、on video on demand,AVOD-Advertising-based Video On DemandSource:KPMG report-Media ecosystems:The walls fall down-September 2018,Boston Consulting Group(BCG),India Intelligence and Insights:Disney+Hotstar:The Future of Indias Largest Premium Digital Video Platform,EY Report 20234504975275637280100200

64、30040050060070080020202021202220232026EIndia OTT Video Services(Video-on-Demand and Live)Market(US$billion)4.17.00123456782024E2027EOnline Video Audience(million)18Strategies adoptedSubscription strategiesPay-per-view modelPlayers are beginning to experimentwith the Indian pay-per-view platformmarke

65、t,specificallyformoviepremieres.Players such as Disney+are releasingmovies worldwide in a transactionalvideoondemand(TVOD)fashion;ShemarooMeistestingthismodelthrough its Box Office feature,wheredirect-to-digital movies can be watchedover a three-day window at Rs.80-100(US$1.08-1.35).Viewership in re

66、gional entertainmentRegional entertainment is growing and therefore,thesuppliers are able to expand their forte in the products.Zee Television,Star TV have their regional channelsboth for entertainment and news.According to Mr.Sriram Manoharan,Founder andCEO,Contus(a SaaP company),OTT market forSout

67、h India comprises 10 million customers and hasa huge potential to grow in the space.IPL 2024 became the largest ever edition in terms ofaudiencereachonTVanddigital.Theofficialbroadcaster Star Sports recorded an audience reachof 546 million for 67 matches.The smartphone package,launchedby Netflix,was

68、 aimed to reach price-conscious customers and penetratedeeper into the Indian market.Sony Liv rebranded itself and focusedon enhancing user experience withfresh original content as a part ofSonyLiv 2.0.Byshiftingawayfromdeliveringcontent through various collaborationsto a single partner and direct m

69、odel,ALT Balaji increased the emphasis ondirect subscriptions.It entered into anagreementwithZee5toco-createover60originalstosupportthischange in strategyto be deliveredexclusively on these platformsSource:KPMG Report 202019Growth DriversGROWTH DRIVERS20Growth drivers of media and entertainment sect

70、or in IndiaSource:M&A and Private Equity Deal insights report by Grant Thorton Growing demandRising incomeGovernment initiatives Indias per capita income has been estimated at US$2,538.10 in 2024.During 2017-2025,elite,affluent,aspirers and next billion income classes are expected to grow at a CAGR

71、of 11%,9%5%,and 2%,respectively Indias media and entertainment industry witnessed the largest merger ever.The ZEE-Sony merger will account for 25%of M&E market share with a combined revenue of US$2 billion.The Government carved out National Film Policy to mainly tap potential in the animation segmen

72、tThe Government will formulate a plan to increase media and entertainment export to US$10 billion BY 2027The Government of India increased the FDI limit from 74%to 100%The Government has set up the National Centre of Excellence for Animation,Gaming,Visual Effects and Comics industry in Mumbai Note:A

73、E-Advance Estimates,PE-Private equity,VC-Venture capital The Government is taking efforts to boost Make in India initiative in the media and entertainment industryInvestments21Income factor driving growth 1.5%2.0%2.6%2.9%3.0%7.0%3.0%6.0%6.4%7.3%9.0%16.0%8.0%15.0%15.0%16.2%21.0%26.0%42.0%45.0%45.3%46

74、.0%45.0%40.0%44.0%31.0%30.7%27.6%22.0%11.0%200520162017201820192030FElite(30800)Affluent(15400-30800)Aspirers(7700-15400)Next billion(2300-7700)Strugglers(2300)Apart from the impact of rising income,widening of the consumerbase will also be aided by the expansion of the middle-class,increasing urban

75、isation and changing lifestyles.The entertainment industry will also benefit from a continued rise inthe propensity to spend among individuals.Empirical evidences pointto the fact that decreasing dependency ratio leads to higherdiscretionary spending on entertainment.Traditionally,only advertising h

76、as been a key source of revenue forthe M&E industry,but off late,revenue from subscription and valueadded services has also contributed significantly.With consumerswilling to pay for content and extra services,the subscriptionsegment is going to play an important role in the post-digitisation era.Ri

77、sing per capita incomes have also led to the significant growth ofticketed events,with music concerts,comedy performances,sportsand other entertainment events all growing in 2023Brand extensions by large Indian companies and international brandlaunches,all of which require the reach of TV,as India m

78、ovestowards becoming one of the top three economies in the world(Indias per capita income is expected to grow from approximatelyUS$2,500 in 2022 to US$3,000 by 2025 which will keep drivingconsumption and grow the middle class significantly)Source:McKinsey Quarterly Report,Indian Habit of Being Healt

79、hy by Red Seer,EY Report 2023Note:Income distribution is calculated in constant 2015 dollars;$1=65.Because of rounding,not all percentages add up to 100.F-Forecast209.10266.50354267271.5Indian residents shifting from low to high income groups(%)Million Household,100%28922Policy support aiding sector

80、 growth(1/3)1FilmCo-production treaties with various countries such as Italy,Brazil,UK and Germany to increase the export potential of film industry.Granted industry status in 2001 for easy access to institutional finance.FDI up to 100%through the automatic route has been granted by Government.Enter

81、tainment tax to be subsumed in the GST-this would create a uniform tax rate regime across all states and will also reduce the tax burden.The Film Facilitation Office(FFO)partnered with the Ministry of Railways to create an integrated single window filming mechanism to streamline the clearance proces

82、s for filming across railway premises.2RadioFDI limit in radio including private FM channels have been increased from 26%to 49%.Private operators allowed to own multiple channels in a city subject to a limit of 40%of total channels in the city.Private players allowed to carry news bulletins of All I

83、ndia Radio.Further boost may be given to the radio sector by charging license fees on the basis of net income so as to provide relief to loss makingradio players.3TelevisionDigitisation of the cable distribution sector to attract greater institutional funding,improve profitability and help players i

84、mprove their value chain.FDI limit for DTH satellite and digital cable network was raised from 74%to 100%by the Government.No restriction on foreign investment for up-linking and down-linking of TV channels other than news and current affairs.23Policy support aiding sector growth(2/3)4PrintFDI inves

85、tment of up to 26%in an Indian firm dealing with publication of newspaper and periodicals.FDI investment of up to 26%in publications of Indian editions of foreign magazines.FDI investment of up to 100%in publications of scientific and technical magazines/specialty journals/periodicals.5MusicParliame

86、ntary approval on the Copyright Act(Amendment)Bill,2012,which strengthens the royalty claims of musicians,lyricists and others in the field.Policies are adopted against digital piracy and file-sharing to block illegal music websites.Adoption of revenue sharing model by Copyright Board requiring FM r

87、adio companies to share 2.0%of their net advertising revenue with music companies.6Animation,gaming and VFX100%FDI allowed in the sector through automatic route provided it is in compliance with the RBI guidelines.The Government has carved out a National Film Policy to tap the potential of the film

88、sector,mainly for the animation segment.State-level initiative by Governments to encourage animation industry.As per FICCI EY Report,the Indian VFX segment exhibited a growth of 10%with revenues reaching Rs.5,400 crore(US$653.67 million)in 2023,compared to Rs.5,000 crore(US$626.41 million)in 2022,un

89、derscoring its resilience and potential.Projections indicate further growth,with revenues expected to reach Rs.6,300 crore(US$789.28 million)in 2024 and Rs.8,300 crore(US$1.04 billion)by 2026.Source:PwC India Entertainment and Media Outlook 2011,KPMG-FICCI Report 2018,News Articles24Policy support a

90、iding sector growth(3/3)7Over-the-top(OTT)contentIn February 2021,the digital entertainment committee of the Internet and Mobile Association of India(IAMAI)finalised a code of conduct to form the basis for self-regulation code for OTT content.The code has been endorsed by 17 OTT platforms including

91、Netflix,Amazon Prime Video,Disney+Hotstar,ZEE5 and Voot.Source:PwC India Entertainment and Media Outlook 2011,KPMG-FICCI Report 2018,News Articles25Key Government initiatives1Animation,Visual Effects,Gaming and Comic(AVGC)CentreOn September 2,2020,Government of India announced its plans to develop a

92、n Animation,Visual Effects,Gaming and Comic(AVGC)Centre for Excellence in collaboration with IIT Bombay.The centre is expected to launch in the next 1-2 years(2021-2022).The AVGC sector is estimated to grow at 9%to reach Rs.3 lakh crore(US$43.93 billion)by 2024,stated Union Minister of Commerce&Indu

93、stry,Consumer Affairs&Food&Public Distribution and Textiles,Mr.Piyush Goyal.2Merger of four government film media units with the National Film Development Corporation of India(NFDC)In December 2020,the Union Cabinet approved the merger of four government film media units(the Films Division,the Direc

94、torate of Film Festivals,the National Film Archives of India and the Childrens Film Society,India)with the National Film Development Corporation Limited(NFDC).This will help converge activities and resources and ensure synergy and efficiency in achieving common mandates.3Renaming of The Indian Broad

95、casting FoundationAs part of the expansion to include all digital platforms and digital(OTT)players under a single roof,in May 2021,the Indian Broadcasting Foundation(IBF)announced the move to be renamed as the Indian Broadcasting and Digital Foundation(IBDF).As per the Information Technology(Interm

96、ediary Guidelines and Digital Media Ethics Code)Rules,2021,IBDF would also form a self-regulatory body(SRB)soon.4Cable Television Networks(Amendment)Rules,2021 In June 2021,the Union Ministry of Information and Broadcasting notified the Cable Television Network(Amendment)Rules,2021,which aims to est

97、ablish a three-layer statutory mechanism for citizens to raise grievances with respect to broadcasted content.26Funding growth in the Indian media and entertainment industryThe media and entertainment industry in India put up a great show in 2020.There were a myriad of opportunities for new-age star

98、t-ups and investors to tapinto,given the rising demand for services such as short-video apps,music andgaming platforms across demographics.Pocket FM,an audio series platform,has raised U$103 million in its Series Dfunding round,led by Lightspeed with participation from Stepstone Group.2023 recorded

99、US$575 million in PE/VC investments in the media andentertainment sector,an 84%decline y-o-y.In Q3 of CY23,eight deals were recorded in the media and entertainmentsector of India at US$269 million.The following are a few promising start-ups in 2021:Kuku FM:Vernacular non-music audio&podcast platform

100、NewsBytes:Leverages AI to create content across media formatsSpartan Poker:Offers cash games&tournaments to gaming enthusiastsThe Better India:Leverages content and creates community for D2CcommerceTrell:Lifestyle community commerce platformStarlight Gaming,a company owned by Taiwanese video game de

101、veloper andpublisher Softstar Entertainment,plans to make an initial investment of US$10million in its India operations.Media company Shemaroo Entertainment is planning to invest Rs.75 crore(US$9 million)in FY24 to bolster its broadcast and over-the-top(OTT)businesses.In March 2024,Imax Corporation

102、and BookMyShow have inked a strategicpartnership that will see the Canadian theatre company having higher visibilityand discoverability on the online ticketing platform.Reliance Industries,Viacom18 Media,and The Walt Disney Corporation haveinked a deal to establish a joint venture to merge the telev

103、ision and digitalstreaming operations of Viacom18 and Star India,paving the way for creating agiant entertainment entity in India.The joint venture,valued at Rs.70,352 crore(US$8.5 billion)post-money,excludes synergies,as highlighted in a jointstatement.809.004,692.003,559.00575.00050010001500200025

104、00300035004000450050002020202120222023Funding Growth in Media&Entertainment Sector(US$Million)Source:EY PE/VC Agenda India Trend Book 202427AcquirerTargetDateValueViacom18 MediaThe Walt Disney CorporationFebruary 2024US$8.5 billionThe Good Glamm GroupScoopWhoopOctober 2021NASony Pictures Networks In

105、dia(merging entity)Zee Entertainment Enterprises(ZEEL)(merging entity)September 2021US$1.57 billionITV NetworkSports Flashes radio businessMarch 2021NAHT Media Mosaic Media VenturesJuly 2020NARP Sanjiv Goenka Group(RPSG)Editorji July 2020NAZEE EntertainmentMargo NetworksApril 2020US$72 millionPVR Lt

106、d.SPI CinemasAugust 2018US$94.42 millionDish TVVideocon D2hFebruary 2018US$2.4 billion Zee Entertainment9X Media and INX MusicOctober 2017US$24.56 millionDelta CorporationGaussian NetworkSeptember 2017US$34.37 millionDentsu Aegis Network(DAN)SVG Media Pvt.Ltd.April 2017US$100-120 millionHotstarZapr

107、Media LabsMarch 2017NAZee Media Corporation(ZMCL)Reliance Broadcast Network(RBNL)November 2016US$237.79 millionEros International Media Ltd.Puja EntertainmentJune 2016NAPVRDT CinemasMay 2016US$81.89 millionSony Pictures Networks India Pvt.Ltd.(SPN)9X Media Pvt.Ltd.April 2016US$33 millionZee Entertai

108、nmentSarthak TVJuly 2015US$18.83 millionViacom Inc.Prism TV July 2015US$153 millionSource:News ArticlesNotes:NA-Not AvailableKey M&A deals in the sector28Increasing FDI inflows into the sector FDI inflows in the information and broadcasting sector(includingprint media)stood at US$10.99 billion betwe

109、en April 2000-March2024.Demand growth,supply advantages and policy support are the keydrivers in attracting FDI.The Government has increased the FDI limit from 74%to 100%.FDI limit in radio including private FM channels have been increasedfrom 26%to 49%.FDI investment of up to 26%in an Indian firm d

110、ealing withpublication of newspaper and periodicals.FDI investment of up to 26%in publications of Indian editions offoreign magazines.FDI investment of up to 100%in publications of scientific andtechnical magazines/specialty journals/periodicals.In February 2021,Prasar Bharati(India)and PSM(the offi

111、cial StateMedia of Maldives)inked an agreement to facilitate collaboration andcapacity building in the field of broadcasting.Source:Department for Promotion of Industry and Internal Trade(DPIIT)0.700.100.300.971.520.641.190.880.180.290.470.851.002.003.004.005.006.007.008.009.0010.0011.0012.00FY13FY1

112、4FY15FY16FY17FY18FY19FY20FY21FY22FY23FY24*FDI inflow into Information and Broadcasting sector(US$billion)Note:*Until December 202329Opportunities and DevelopmentsOPPORTUNITIES30Source:CEAMA,Electronic Industries Association of India,Economic Times,*EY Re-imagining Indias M&E sector,National Policy o

113、n Electronics 20194.MULTIPLEXNewly merged multiplex giant PVRInox is ready with a plan to add upto 175 new screens and retrofit ahostofexistingonesataninvestment of Rs.700 crore(US$85.1 million)during FY24.In March 2024,Imax Corporationand BookMyShow have inked astrategic partnership that will seeth

114、eCanadiantheatrecompanyhavinghighervisibilityanddiscoverabilityontheonlineticketing platform.1.GAMINGThe online gaming segment grew22%to become the fourth largestsegment of the Indian M&E sector in2023,displacingfilmedentertainmentBy 2025,online gaming is expectedtohavegrownto500millionplayers,makin

115、g it the third-largestsegment of the Indian M&E market.Digital Gaming India Expo 2023 sawparticipation from leading gamingcompanies across the world andshowcasedworkonleadingtechnologieslikeAR/VR,blockchain,NFT,robotics,digitalgaming,and more.India has seentheemergenceofover1,000gamingstudiosandgame

116、development companies3.PRINTThe print industry was worth Rs.26,000(US$3.13 billion)in 2023 and isexpected to reach Rs.28,800 crore(US$3.47 billion)by 2026.According to EY,print medias revenue is anticipated to increase by 3.4%between 2023-2026 as a result of increased government and corporateadverti

117、sing spending.According to the EY report(2023),growth in the print segment would bedriven by publications by increasing the utility and highlighting thatlegitimate news comes at a cost.o The market is also expected to witness growing subscription revenuesthrough micro-market segmentation and bundlin

118、g.o The growth would also be driven via creation of sector-specificadvertising solutions.2.DIGITAL AND OOHIn 2024,the projected revenue in the Digital Media market inIndia is expected to reach US$10.07bn.According to Media Partners Asias Asia Pacific Video&BroadbandIndustry2024report,Indiasvideomark

119、et,encompassing both TV and digital,is projected to grow fromUS$13 billion in 2023 to US$17 billion by 2028.OOH(out-of-home)is estimated to reach Rs.5,300(US$640million)by 2025 from Rs.1,600 crore(US$190 million)in 2020.Growth opportunities in the media and entertainment segments123431Social Media I

120、nfluencer MarketingSocial media influencer marketing in India is estimated to grow at 25%annually to reach Rs.2,457 crore(US$300 million)by 2025,from Rs.1,275 crore(US$160 million)in 2022.In October 2021,Snapchat reached the 100 million users mark in India and aims tostrengthen localised experiences

121、 by investing in local products,marketing initiatives andlanguage support.Key DevelopmentsIn June 2023,India,for the firsttime participated at the AnnecyInternational Animation Festivalin France and showcased thestrengthitscreativeeconomyholds.In April 2023,Prime Minister Mr.NarendraModicommissioned

122、Low Power FM Transmitters ofcapacityof100wattat91locations.Thesetransmittershavebeeninstalledin84districts of 20 states.With this,the network of transmitters withAll India Radio has increasedfrom 524 to 615.The additionwill further boost the coverage ofAIR to 73.5%of the population ofthe country.In

123、November 2021,short-formatvideo-sharing social networkingplatform Lomotif,was launchedin India.PartnershipTheStar-Viacom18mergerdealsigned on February 28 will create anUS$8.5 billion media goliath with adominating presence in both TV anddigital segments.InMay2023,Viacom18-ownedstreaming service JioC

124、inema inked amulti-yearcontentdealwithNBCUniversal(NBCU)to bolster itspremium content library.As part ofthe partnership,JioCinema will getaccesstothousandsofhoursofNBCU films and TV series in India.A partnership was announced in April2023betweentheMinistryofInformation&BroadcastingandAmazon India in

125、 the field of media,entertainment,and public awareness.New developments in the media and entertainment industrySource:News Article32Key Industry Contacts33Key industry ContactsAgencyContact InformationIndian Motion Picture Producers Association(IMPPA)G-1 To 7,Crescent Tower,Near Morya House,Opp.Vip

126、Plaza,Link Road,Andheri(W),Mumbai-400053Tel:91 77150 72777/88790 31147/91 22 2673 2868/2674 2892Email:Website:http:/www.imppa.infoThe Film and Television Producers Guild of India1003-04,10th Floor,Sri Krishna,Fun Republic Lane,New Link Road,Andheri(West),Mumbai,Maharashtra 400053Tel:91-22-2673 3065E

127、-mail:girishfilmtvguildindia.orgWebsite:http:/Newspapers Association of India(NAI)A-213,Office no:311 Shanti Gopal Chamber,3rd Floor,Shakarpur,Delhi 110092Tel:91 9990926962,+91 9810226962E-mail:Website:Association of Radio Operators for India(AROI)1212,Surya Kiran Building,Kasturba Gandhi Marg,New D

128、elhi 110001Tel:+91-87006 79861e-mail:infoaroi.inWebsite:www.aroi.inThe Indian Music Industry(IMI)Crescent Towers,7th Floor,B-68,Veera Estate,Off New Link Road,Andheri West,Mumbai-400 053 Tel:91-22-26736301/02/03Fax:91-22-26736304e-mail:infoindianmi.orgWebsite:www.indianmi.orgThe Indian Society of Ad

129、vertisersArmy and Navy Building,3rd Floor,148,Mahatma Gandhi Road,Mumbai-400001Tel:+91(022)2285 6045/2284 3583/2204 2116Fax:+91(022)2204 2116E-mail:Website:https:/www.isanet.org.in34Appendix35GlossaryAGV:Animation,Gaming and VFXCAGR:Compound Annual Growth RateDPIIT:Department for Promotion of Indust

130、ry and Internal Trade,Ministry of Commerce and IndustryDTH:Direct to HomeFDI:Foreign Direct InvestmentFM:Frequency ModulationFY:Indian Financial Year(April to March)GST:Goods and Service TaxIPO:Initial Public OfferingM&A:Merger and AcquisitionM&E:Media and EntertainmentPPP:Purchasing Power ParityUS$

131、:US DollarVAS:Value Added ServicesVFX:Visual EffectsWherever applicable,numbers have been rounded off to the nearest whole number 36Exchange ratesExchange Rates(Fiscal Year)Exchange Rates(Calendar Year)YearRs.Equivalent of one US$2004-0544.952005-0644.282006-0745.292007-0840.242008-0945.912009-1047.

132、422010-1145.582011-1247.952012-1354.452013-1460.502014-1561.152015-1665.462016-1767.092017-1864.452018-1969.892019-2070.492020-2173.202021-2274.422022-2378.602023-2482.802024-25*83.89YearRs.Equivalent of one US$200544.11200645.33200741.29200843.42200948.35201045.74201146.67201253.49201358.63201461.0

133、3201564.15201667.21201765.12201868.36201969.89202074.18202173.93202279.82202382.612024*83.70Source:Foreign Exchange Dealers Association of IndiaNote:*-Until October 2024,*-April-October 202437DisclaimerAll rights reserved.All copyright in this presentation and related works is solely and exclusively

134、 owned by IBEF.The same may not be reproduced,wholly or in part in any material form(including photocopying or storing it in any medium by electronic means and whether or not transiently orincidentally to some other use of this presentation),modified or in any manner communicated to any third party

135、except with the written approval ofIBEF.This presentation is for information purposes only.While due care has been taken during the compilation of this presentation to ensure that theinformation is accurate to the best of IBEFs knowledge and belief,the content is not to be construed in any manner wh

136、atsoever as a substitute forprofessional advice.IBEF neither recommend nor endorse any specific products or services that may have been mentioned in this presentation and nor do they assumeany liability,damages or responsibility for the outcome of decisions taken as a result of any reliance placed on this presentation.IBEF shall not be liable for any special,direct,indirect or consequential damages that may arise due to any act or omission on the part of the userdue to any reliance placed or guidance taken from any portion of this presentation.