Digital Media in the country to reach $5.1 billion by 2021. Currently, India has 750 million internet subscribers and the number is growing at a rate of 13% annually.
There is a significant rise in the number of base internet users in India, hence, the digital media in the country is expected to overtake the film industry by the end of 2019 and print by 2021. According to a FICCI-EY report, digital media to reach 5.1 billion in two years.
There was a 42 percent increase in the digital media in the year 2018, valued at 2.4 billion USD. According to a report, 30 percent of Indians spend their phone time on entertainment. India has the second-highest number of internet users only after China.
By 2021, India’s estimated ad model to be approximately USD 4.3 billion and the subscription model to be around USD 0.8 billion. Advertising revenue to grow 2X.
With the new TRAI Tariff Order, Over-the-top (OTT) Media platforms would benefit due to increased parity among television and OTT content choices and costs.
The overall media and entertainment sector in the country has touched USD 23.9 billion, a growth of 13.4 percent over 2017. It is expected to grow USD 33.6 billion by 2021.
Why is this piece of NEWS important?
By the year 2021, the TV will retain its pole position as the largest segment in terms of revenue. However, maximum growth will be driven by digital media.
Digital media is growing at a rapid speed, it is the right time to catch up to it.Source: https://www.cruxcreativesolutions.com/news/digital-media-to-overtake-print-media-by-2021/