Boston Consulting Group today Launched The Annual CII Big Picture Report titled “Lights, Camera, Action…the Show Goes On”.
• Digital video usage increasing at ~15% between 2018-20
• TV and OTT subscriptions both continue to grow; OTT growing at a faster rate
• No. of hours of original content increase 3x between 2018 and 2020
• Advertising revenue expected to decline ~16% y-o-y, however m-o-m volumes are increasing
• M&E industry expected to contribute 3-3.5% of GDP and 4-4.5 mn jobs in 2020 (total of direct, indirect and induced impact
India continues its unique multimodal growth story, with digital video being the fastest growing media platform over the last 2 years. Not surprisingly, this trend is expected to continue for the foreseeable future led by the ever-increasing smartphone and data penetration on the demand side and improving consumer experience with high quality and wide variety of content, and innovative pricing models on the supply side.
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Kanchan Samtani, MD and Partner, BCG Said,
- “Recent
developments such as the resumption of operations and recovery of ad
campaigns has resulted in optimism in the industry”
- “Countries are developing media
hubs to drive impact of M&E – Spain has setup a content city in Madrid
to tap into the growing global demand for Spanish content. This gives a
boost not only to the M&E industry but also to the tourism and India
should aspire to do the same. Continued focus on customer value,
increasing our presence in areas such as VFX and animation, and concerted
investment in skilling and technology can lay the groundwork needed to
help Indian M&E achieve greater heights.”
Mandeep Kohli, Partner, BCG
- “India continues its unique
multimodal growth. TV consumption surged ~40% during lockdown due to an
increase in non-prime time viewing. Smartphone video consumption is up as well,
with a 50-60% increase in subscribers over last year. Going forward we
expect the digital trend to intensify, OTT adoption to continue rising,
and the emergence of new business models better suited to the new reality.
The share of digital in advertising will also continue to grow, having
reached 15% in 2020, a full 2 years before its pre-Covid forecast.”
K Madhavan, Chairman, CII National Committee on Media &
Entertainment and Managing Director, Star & Disney India
- “The pandemic outbreak created
many unique challenges to the Media & Entertainment sector. It was
commendable to see the entire industry rise to the occasion to engage and
entertain millions of viewers while they were confined at home. It’s the
sheer willpower and persistence showcased by the stakeholders that have
helped convert adversities into opportunities.“
- “This year has brought about a
dynamic change within the industry with everyone adopting a new learning
curve to stay strong and relevant. It is truly intriguing to see how the
entertainment world has embraced being remote and virtual, and as we enter
2021, we will need to continue to stay focused on bringing back the sector
to a growth trajectory.”
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