India’s media and entertainment industry is expected to reach $73.6 billion by 2027 with a compound annual growth rate (CAGR) of 9.48%, says consultancy firm PwC’s “Global Entertainment…
In terms of growth percentage, streaming leads the way with revenue surging 25% in 2022 to reach $1.8 billion. The market will continue to grow at 14% CAGR to produce revenue of $3.5 billion in 2027. This will be driven by the competitive SVOD sector, which accounted for 78% of sector revenue in 2022, the report says, adding that while subscription service revenues will expand at 13% CAGR to reach $2.6 billion, ad-supported services will grow at a higher rate, albeit from a lower base.
In the video games and e-sports sector, India is the second-fastest-growing video games market in the world behind Pakistan. Revenue in the sector was $1.7 billion in 2022 and is expected to grow 19% CAGR to reach $4.2 billion by 2027. India’s music, radio and podcasts market reached revenues of $1.1 billion in 2022 and is forecast to reach $1.5 billion in 2027.
Generative AI will enable brands to reach across the country’s many languages and regions with generic templates that can be adapted and customized to different geographies with local messaging. “Given that consumers are adopting the AI tool ChatGPT at an unprecedented pace, there is evidently potential for a dramatic increase in the capability and volume of content creation,” the report says.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
South Korea is cashing in on NATO's standoff with RussiaSeoul has stepped up its defense exports, committing to breaking into the world's top four arms sellers by 2027.
Les mer »
Canadian pensions funds keen to invest in India, Indian government saysCanadian pensions funds would be keen to explore investing in infrastructure funds in India as the country offers a stable investment climate, Finance Minister Chrystia Freeland said on Sunday, according to an Indian government statement.
Les mer »
World Eskimo-Indian Olympics coordinates family of volunteers to host the eventsPutting on WEIO every year requires months of preparation.
Les mer »
Indian shares may open flat as weak China data offsets Fed rate pause hopesIndian shares are set to open little changed on Monday after hitting record highs on Friday on the hopes of the U.S. Federal Reserve pausing its rate hiking cycle, while weak China data remained an overhang.
Les mer »
Venba is all about preserving South Indian culture through cooking | Digital TrendsSet to launch later this month, Venba aims to make the cooking video game genre more meaningful.
Les mer »