Conventional pillars of the industry
The television media is among the preferred choice of media consumption in the country. The main flag bearers of the industry are prestigious media houses like Zee Entertainment Enterprises, STAR network and Sun TV network. Post-pandemic, the film industry made a comeback relying mainly on successful box-office revenues from regional language films. The localized print industry was dealt a severe blow by rising production costs and news consumers choosing to access news digitally.Unsurprisingly, the media and entertainment industry is among the fastest growing markets across the country on account of the unprecedented advancement of technology, rendering favorable conditions for consumption thanks to the ease of accessibility services across the nation.
Digitization and the evolution of media
The Indian demographic has witnessed a rapidly growing young population with access to high speed internet and portable devices to harness its potential. The technology dependent sectors of the entertainment industry benefitted from this increased usage of the available 3G and 4G internet spectrum resulting in the emergence of online gaming, VFX and animation and over-the-top (OTT) media applications.Online video platform subscriptions have shown promising growth over the last few years to attract foreign investment and mergers into this market. Despite the emergence and establishment of a new contender, the Indian pay TV sector remained resilient with expert assessments deeming it a viable market. Market leaders such as Tata Sky and Airtel continue to be the popular choice among subscribers. Additionally, government initiatives also favor more capital inflow from foreign investors with the FDI limit being increased from 74 to 100 percent in cable and DTH satellite platforms.