Are you tired of watching TV? wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital media surpassed!
The country's media and entertainment industry is growing rapidly. wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital media also has a big contribution in this. The situation is such that in the last one year, wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital media has generated the highest revenue by surpassing television. In the year 2024, the valuation of the indian media and entertainment (M&E) sector has reached Rs 2.5 lakh crore (29.4 billion dollars) with a growth of 3.3 percent. wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital media had a 32 percent share in the total revenue. This shows that with changing times, there has been a big change in consumer behavior and business strategy.
This sector of the country will continue to grow
According to this report named Shape the Future by Federation of indian Chambers of Commerce and industry (FICCI)-EY, this sector will grow even further in the year 2025. Its valuation is expected to reach Rs 2,700 billion (31.6 billion dollars) with a growth of 7.2 percent. The growth of this sector will continue. By the year 2027, its market value can reach Rs 3,100 billion (36.1 billion dollars). The main reason behind this will be wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital platforms and other wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital formats.
A lot of money is also coming from advertising
Digital advertising has also seen a tremendous jump, which has reached Rs 70,000 crore (8.2 billion US dollars). Similarly, its share in the total advertising revenue i.e. income from advertisements is 55 percent. The highest growth has been in e-commerce advertising (50 percent) and social media advertising (11 percent). Meanwhile, wallet PLATFORM' target='_blank' title='digital-Latest Updates, Photos, Videos are a click away, CLICK NOW'>digital subscription revenue has also reached Rs 10,200 crore (1.2 billion US dollars) with a growth of 15 percent. Paid video subscriptions have grown from 47 million households in the country to 111 million. Streaming services like Netflix, amazon Prime Video and JioHotstar have benefited from this trend.
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