Our Indian media and entertainment industry is expected to reach USD 52,683 million (around Rs 3.73 lakh crore) value by 2022 driven by increasing disposable income, population and content consumption across the formats, according to a survey.

By 2022, the Indian video OTT (over-the-top) market will be among the top 10 markets globally with a market size of USD 823 million (Rs 5,363 crore), as per study.

“The entertainment and media industry is projected to grow at a CAGR of 11.7 per cent from USD 30,364 million in 2017 to USD 52,683 million in 2022,” the report said.

It further added: “TV, cinema and OTT will collectively account for 46 per cent of the overall growth in the Indian entertainment and media industry for the period 2017 to 2022.”

The report included that both the conventional media industry too OTT players will exist together in India and accomplish great development in the coming years.

With the launch of OTT services, video-on-demand (VoD) has been at the forefront edge of interruption in the media business, and the creation spending plans of organizations, for example, Netflix and Amazon currently equal those of customary studios, said PwC India Partner and Leader (Entertainment and Media Sector) Frank D’Souza.

“All around, the OTT advertise is set to develop at a CAGR of 10.1 percent amid the period 2017-2022. Amid a similar period in India, the fragment is relied upon to develop from USD 297 million (Rs 1,932 crore) to USD 823 million (Rs 5,363 crore) in 2022 at a CAGR of 22.6 percent,” it included.

“Mobile video promoting (to a great extent AVoD) is the quickest developing sub-fragment of India’s Internet advertising market, anticipated to ascend at a CAGR of 32.8 percent from 2017 to 2022 and to reach USD 317 million (Rs 2,064 crore) by 2022,” it included.

Data utilization in India will develop from 71,67,103 million MB in 2017 to 10,96,58,793 million MB in 2022. “With lower-than at any other data tariffs and expanding cell phone entrance in the nation, which is around 40 percent starting at 2017, it is sheltered to expect that the VoD market will be a noteworthy recipient of these advancements,” it included.

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