India offers a growing middle class of high-tech savvy consumers and vibrant media, entertainment and innovation sectors. Riding on the back of these advantages, the media & entertainment market grew at a CAGR of 11 percent over 2014-18 and is expected to grow at a CAGR of over 13 percent in the next 5 years. The movie industry in India is big business and box office revenues are growing steadily. The best opportunities for multinational businesses, however, are more likely found in joint “Bollywood” production projects, rather than in licensing or exporting movies. Electronic home video is expanding rapidly, especially streaming content for a monthly flat rate.
The all-inclusive, unlimited subscription model is gaining in popularity as digital entertainment expands in India just like in many developing economies. Live music and digital music streaming are proliferating in India. Video games, including PC, app-based, digital, and online consoles are also growing rapidly. The Indian content on screen reaches over 85 countries in all major OTT platforms, including Netflix, Prime Video, iTunes, YouTube. This is just the tip of the iceberg and is set to increase in the coming years. After Hollywood, Indian cinema has the highest reach (in terms of distribution for films) and reaches over 75 territories globally. India’s strength is emotional content – telling human stories with universal appeal, irrespective of the language barrier.