Indian Leisure, Culture And Entertainment Industry Is Going Through Sunrise Phase
The Media and Entertainment industry of India is defined as a sunrise sector. It has contributed a larger portion of the Indian economy and is still growing with its high potential. Proving its amazing resilience on a global platform, the M&E industry is likely to move forward with its strong growing phase and completely backed up by rising consumer demand. This industry has been driven mostly by the increased form of digitalization and high internet usage, in the past few decades. Now, Indian digital world is depending mostly on internet value, and it has become an integral part of mainstream media for the majority of people.
The present marketing dynamics:
Over the past five years, Indian M & E industry is likely to grow at a steady rate. The revenue is noted to exceed the present US$ 32.7 billion, by the end of 2019, from the previous US$ 17.0 billion mark in 2014. The compound annual growth rate is associated with 14.0%, between 2015 and 2020.
Increased usage of smartphones
The growing use of smartphones and the expansion of 3G or 4G network are some of the major points to increase revenue count of leisure and entertainment department. In the year 2015, Indian people have said to download near about 9 billion mobile based applications, which is five times more than in 2012. These statistics might have increased the present revenue bill to an estimated US$ 241.16 million.
The statistics reveal that the chosen video gaming industry has also spread its growth with a record of 22.4% in 2014. The net worth rose to somewhat US$ 392 million. The present value of the India animation industry was at US$ 748 million, and this gave rise to a growth of 15 to 20%, on an annual basis.
Leisure, culture and entertainment
- Amusement and leisure parks India (17)
- Amusement arcades India (15)
- Audio recording services India (12)
- Casinos, lotteries, bingo and turf accountants India (3)
- Cinema, radio and television programme distribution India (19)
- Cinemas India (8)
- Clubs and lounges, non-sportive India (5)
- Cultural associations India (9)
- Film productions India (80)
- Leisure and sports centres India (68)
- Libraries India (7)
- Museums, art galleries India (11)
- Music publishers and record labels India (27)
- National parks, nature reserves, zoos and botanical gardens India (2)
- Nightclubs and discotheques India (258)
- Party, entertainment and festival organisers. Events NES India (255)
- Publishers, board games and video games India (1)
- Publishers of videos India (15)
- Radio and television productions India (43)