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.
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Denne historien er fra February 2024-utgaven av Digital Studio.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Blackmagic Design Powers New Studio Extreme Tokyo
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Andrew Twenter as Calrec US National Technical Sales Manager
Group One, a professional audio and lighting distributor, is expanding its Calrec US sales team with the appointment of Andrew Twenter as National Technical Sales Manager, effective immediately.
Czech Radio Upgrades Riedel Artist Intercom System for Enhanced Broadcast Communication
Czech Radio, the public broadcaster of the Czech Republic, has upgraded its Riedel Artist intercom infrastructure as part of its ongoing system expansion.
ASG Appoints Kate Sims and Joe Marchitto to Strategic Roles
Advanced Systems Group (ASG) has bolstered its leadership team by appointing Kate Sims as Vice President of Strategic Accounts and Joe Marchitto as CTO of Strategic Accounts.
Ola's Krutrim Sparks AI Revolution with New Chip Family and Global Alliances
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Sony Launches Al-Enhanced 4K Handheld Camcorders
Sony Electronics has introduced two new 4K handheld camcorders, the NXCAM HXR-NX800 and XDCAM PXW-Z200, designed for a wide range of professional applications including broadcast, corporate, faith, and education sectors.
Harmonic's Cutting-Edge Tech is Transforming Persidera's Video Delivery Game
Harmonic has announced that Persidera, a leading Italian media service provider, has deployed the company's XOS Advanced Media Processor to enhance video delivery for its customers.
NAB Studio Implements Unytalk Live for Enhanced Hybrid Event Production
Unytalk, a leading provider of interactive communication solutions, today announced that NAB Studio - a state-of-the-art broadcast production center located in the National Association of Broadcasters' (NAB) Washington, D.C. headquarters - has successfully implemented Unytalk Live to utilize the cloudbased platform for a variety of hybrid events both within and outside of the organization.
The Glittering Night!
The 7th Annual Digital Studio India Awards celebrated the media and entertainment industry's brightest talents. With the introduction of the Production Innovation Awards, the event highlighted the industry's commitment to technological advancement and excellence.
