Indian entertainment industry is expected to see a CAGR of 13.9% during the period (2019-2025). India is one of the fastest-growing countries in the global entertainment industry. As per the Indian Brand Equity Foundation, (IBEF) Indian media and entertainment industry registered a CAGR of more than 10.9% during 2018 and is expected to grow at a CAGR of 13.1% during 2018-2023 and is projected to hit $39.6 billion in 2023 from $22.2 billion in 2018. The next decade is expected to witness significant evolution through digital technologies which will increase their influence across the industry-leading to a change in consumer behavior across the segments. Along with this, the industry employs more than 5 million people, including both direct and indirect employment as of 2017. Thus, India has a huge market of media and entertainment, and before the COVID-19 crisis, the Indian entertainment industry was showing strong year-on-year growth. COVID-19 pandemic startled the Indian economy owing to a month-long lockdown that is expected to hit the entertainment industry significantly. The impact of the COVID-19 pandemic will continue to outshine the entertainment industry since there is a possibility of partial lockdowns in the months to come. The country has halted all theatrical and film productions since March 2020 to slow down the spread of the COVID-19 pandemic.
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Indian entertainment industry is segmented into online video streaming, amusement parks, theatrical & film productions, sports, and live events and trade shows. Based on the segmentation, the live events and trade shows industry is expected to get highly affected due to the outbreak of a pandemic. The major factor for the downfall of the live events and trade shows industry includes stern government restrictions for the travel and tourism coupled with the practice of social distancing, regarding the rapidly spreading COVID-19 across the globe. It is expected that the restrictions on large gatherings will be in place for some more time, which will result in lower attendance at events. Moreover, the amusement & theme parks is another industry vertical significantly affected by the COVID-19 pandemic. Theme parks across the globe have been closed to prevent COVID-19 pandemic.
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Moreover, the major India-based entertainment companies such as Adlabs Imagicaa, Disney+ Hotstar, Eros International Media Ltd., Viacom18 Motion Pictures’, Zee Entertainment Enterprises Ltd., and Dharma Productions Pvt. Ltd., are facing the significant impact of the COVID-19 outbreak that further affect the entertainment industry in the country. Among the productions obstructed are Viacom18 Motion Pictures’ ‘Forrest Gump’ among others.
Industry Overview
• Historical Market Growth Estimation in India Entertainment Industry Excluding COVID-19 Pandemic Effect
• Deviations in the India Entertainment Industry Growth Rate Due to COVID-19 Pandemic
Verticals Affected Most
• Online Video streaming
• Amusement Parks
• Theatrical and Film Production
• Sports
• Live Events and Trade Shows
Company Profiles
• AdlabsImagicaa
• Balaji Telefilms, Ltd.
• Dharma Productions Pvt. Ltd.
• Disney+ Hotstar (Novi Digital Entertainment Pvt. Ltd.)
• Eros International Media, Ltd.
• Ramoji Film City
• Red Chillies Entertainment Pvt. Ltd.
• Sporty Solutionz Pvt. Ltd. (SSPL)
• Viacom18 Motion Pictures’
• Water Kingdom
• Wizcraft
• Wonderla Amusement Park
• Zee Entertainment Enterprises, Ltd.
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