The Indian economy is growing and the M&E sector is a reflection of this. The year 2017 saw India recover from demonetization only to face the new challenges and opportunities provided by the implementation of GST. However, the Indian economy continued on its growth trajectory and so did the M&E sector. Favorable demographics, a rise in consumer income and a huge demand for knowledge, escapism, sports and news aided the growth of the M&E sector in the country. The reach of television increased to 64% of India, and with distribution now largely digitized, this has brought in more addressability. Bucking international trends, the print and radio segments continued to grow, as well as build their digital presence. Indian films – both Hindi and regional – grew their international appeal with several doing well at the global box office. Increase in the demand for global content has resulted in growth of the animation, VFX and post production segment, where India has become known for its high quality and efficient capabilities. Digital subscription and online gaming are showing signs of exponential growth – albeit from a small base – on the back of rising per-capital GDP and falling data costs. The Indian M&E sector now finds itself at its digital tipping point.
Another interesting area in this industry is the Creation & design games for PC, Internet, mobile, gaming consoles (Play station/Xbox).The gaming industry is estimated to grow at 14.3% per year to touch 45.8 billion rupees by 2019. Because of the industry is growing so fast, there is a constant demand for skilled professionals from both, Indian studios as well as for internationally outsourced projects.
With the rising Smartphone and tablet penetration, the mobile gaming industry is expected to touch INR 2620 crore by 2019, with a year-on-year growth of 20 percent over the next five years. Globally, 44% of all smart phones & tablets are used for gaming and by 2018 the total count of mobile games users would reach one billion. Mobile phones are likely to become the preferred platform for gaming, surpassing other content delivery platforms, in the coming years, with the increase in use of portable devices and improved connectivity.