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.
Diese Geschichte stammt aus der February 2024-Ausgabe von Digital Studio.
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Diese Geschichte stammt aus der February 2024-Ausgabe von Digital Studio.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
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