India's OTT industry is growing like never before now, against the backdrop of pandemic. The regional OTT platforms have also contributed to the rise. Our next report finds out more
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Indian media and entertainment (M&E) sector is expected to witness a strong 27 per cent growth in revenue to around Rs 1.37 lakh crore in 2021-22, after contracting 26 per cent this fiscal, according to ratings agency Crisil. Segments such as digital and television (TV) will have relatively shorter time to bounce-back to pre-pandemic levels while print, films, outdoor, and radio would take longer. Crisil Ratings Ltd Director Nitesh Jain said advertisement and subscription revenues contribute nearly equally to the overall M&E sector's topline, but since the former correlates strongly with economic growth, the pandemic has had a bigger impact on it. "Next fiscal, with strong economic rebound on the cards, ad revenue should grow 31 per cent on-year and subscription revenue around 24 per cent," Jain added. The TV segment contributing around half of the sector's topline has recovered fully and will report healthy growth next fiscal. Ad revenue saw a sharp contraction initially, ..
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This growth is being led by the digital segment, showing that advertising budgets are in line with the changes in content consumption patterns