Home / Companies / News / Covid-19 impact: Media market to contract in FY21, but digital holds up

Covid-19 impact: Media market to contract in FY21, but digital holds up

Digital advertising, says KPMG, will overtake TV advertising for the first time this fiscal, pointing to the priorities of advertisers

Premium

Growth in digital consumption as well as online gaming is expected to continue into FY22, which will be a bounce-back year for the overall market, the consultancy says.

Viveat Susan Pinto

1 min read Last Updated : Sep 30 2020 | 11:04 PM IST

After growing at a rate of 10 per cent over the last five years, India's media and entertainment market will decline 20 per cent in FY21, audit and consultancy firm KPMG said in its latest report on Wednesday.

The reason is the coronavirus (Covid-19) pandemic and the lockdown imposed to curb the spread of the disease, which has hit significant parts of the business including print, television and cinema, with the latter shut for six months over social distancing concerns.

While consumers are adjusting to the new normal and cinema halls may eventually open as part of Unlock 5.0, the

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in