The Indian Media Industry: The Dawning of a New Era?
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The Indian Media Industry: The Dawning of a New Era?

media and entertainment

The 2016-17 year was a challenging one for Indians overall especially with the introduction of GST and the effects of demonetization. Even esteemed institutions like the World Bank and International Monetary Fund lowered India’s GDP forecasts. But was the Indian Media and Entertainment industry fazed? According to a report published by the Federation of Indian Chambers of Commerce and Industry (FICCI) in collaboration with the audit firm Ernst and Young – absolutely not!

Titled Reimagining India’s M & E Sector, the report states that the Media and Entertainment industry in India grew at a rate of 13% which was faster than the rate of the entire country’s Gross Domestic Product (GDP). And what’s more, it is expected to continue with this huge rate of growth with a CAGR of 11.6%. That’s huge!

So what does all this mean for you, you ask? It means the time to enter the Media and Entertainment industry is now! We’ve studied the entire 260+ page report to bring you the most salient facts.

Read on to find out more…

India’s Media and Entertainment Industry in Numbers

The FICCI-EY report states that “The Indian M&E Sector reached INR 1.5 trillion (USD 22.7 billion) in 2017, a growth of almost 13 percent over 2016. With its current trajectory, we expect it to cross INR 2 trillion (USD 31 billion) by 2020, at a CAGR of 11.6 percent.”

And that’s not all, Ashish Pherwani, Partner EY India, stated that the growth in 2017 was led by the digital, film & animation and VFX segments. Sectors like digital and gaming are expected to grow between 2 to 3 times by 2020.

The Digital Revolution

The internet has reached more people than ever before and has become cheaper. More people have access to smartphones as well, adding an additional screen apart from their televisions. This has led to a growth in time spent on digital media. Digital media is expected to overtake filmed entertainment by 2020 to make it the third largest segment of Indian M&E Sector.

How you can be a part of it:

Broadcast Journalism inculcates different forms of media to bring the news to the public. You learn to develop content for television, digital magazines, radio and online channels amongst others.  With the digital sector expected to grow by leaps and bounds, you can be sure that the demand for skilled media personnel will too.

Animation and VFX

The report also discusses how the VFX, post production and animation segments are expected to grow at a CAGR of 20% by 2020 to reach INR 114 billion. This growth is not only spurred by the outsourcing of animation and VFX work from abroad, but an increased domestic demand as well.

How you can be a part of it:

The demand for high-quality VFX and animation is increasing in India. Skilled animators and VFX artists are highly sought after by some of the top studios. A VFX and Animation course that gives you a firm grounding in the basics along with more specialized nuances of the field can really take you places in the Visual Effects field.

The Gaming Industry

The gaming industry in India is picking up as well with increased access to smartphones and the internet. Just to give you an idea of how fast it is picking up, the online gaming segment grew by 17.6 percent in 2017 alone to INR 30.4 billion! And that’s just one segment of the gaming industry. Even eSports are recognised and growing. It can’t get more professional than that.

How you can be a part of it:

Develop your skill sets by learning how to design a successful game. You need plenty of theoretical knowledge with even more practical training. Many international game making studios have offices in India and they are always on the lookout for fresh talent.

What more the film, music and advertising sectors are also on the rise. The Indian Media and Entertainment Industry is finally coming in to its own, tapping into a much larger audience than ever before. Seamedu School of Pro-Expressionism has a number of courses designed to produce world class talent in the Media & Entertainment (M & E) fields of Digital Filmmaking, Animation, Game Development and Design, Visual Effects, Sound Engineering, Photography, Broadcast Media, and Broadcast Journalism. Admissions are open now! Get in touch with us to know more!

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