2 billion (US$ 27 million).īy 2025, the number of connected smart televisions are expected to reach ~40-50 million. Growth of the sector is attributable to the trend of platform such as YouTube that continues to offer recent and video content-linked music for free, which is expected to drive the paid OTT music sector reaching ~5 million end-users by 2023, generating revenue of ~Rs. According to a study conducted by Kantar and VTION, an audience measurement and analytics company, Gaana, the streaming service owned by Times Internet Ltd., had 30% market share, followed by JioSaavn (24%), Wynk Music (15%), Spotify (15%), Google Play Music (10%), and others (6%) in 2020. 15 billion (US$ 210 million) in 2020 at a CAGR of 15% between 20. 23 billion (US$ 330 million) by 2023, from Rs. The music industry is expected to reach Rs. 76 billion (US$ 1.08 billion) in 2020, due to rapid increase in consumption. The online gaming market in India is projected to reach Rs. The Indian mobile gaming market is growing at a pace in tandem with the global trend and is expected to reach US$ 7 billion in 2025.
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Key growth drivers included rising demand for content among users and affordable subscription packages. India’s subscription revenue is projected to reach Rs. Piyush Goyal.Īccording to BCG, India’s SVOD subscriptions is expected to increase by 51% as compared to 2019 and is estimated to reach 90-100 million by 2022.Īdvertising revenue in India is projected to reach Rs.
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3 lakh crore (US$ 43.93 billion) by 2024, stated Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles, Mr.
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The AVGC sector is estimated to grow at ~9% to reach ~Rs. Within the M&E sector, Animation, Visual Effects, Gaming and Comic (AVGC) sector is growing at a rate of ~29%, while the audio-visual sector and services is rising at the rate ~25% is recognised as of one of the champion sectors by the Government of India. The market is projected to increase at a CAGR of 17% between 20. Television would account 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%). India’s digital advertising industry is expected to grow to Rs. As per BCG report, India’s M&E industry is expected to grow between US$ 55-70 billion by 2030.