EY expects the M&E industry to make revenues of Rs 2.42 lakh crore by 2022, suggesting there’s scope for much more work
With demand for content across television, cinema and OTT exploding, experts reckon India’s media and entertainment sector could be employing as many as eight million people by 2025. That’s twice the four million currently making a living — directly or indirectly — from the `1.8 lakh crore industry. Ashish Pherwani, Partner at EY believes the opportunity for indirect employment could be several times this if we are able to turn India into the world’s back office for production and post- production work.This could create employment for as many as two million people, he believes.
Pherwani estimates the number of screens — televisions, smartphones, tablets — will jump to one billion in the next five years from current levels of below 600 million. And that will mean creating, curating, marketing and selling much more content.
Much of this will be driven by sales of smartphones, tipped to go up to 750-800 million in four or five years from around 400 million now, and televisions, set to go up to 210 million from 170 million now.
Source: Financial Express
