Media - India

India

Revenue in the Media market in India is projected to reach €38.22bn in 2024.
The largest market within this market in India is TV & Video, which is expected to have a market volume of €15.02bn in 2024.
In a global context, the highest revenue will be generated the United States, amounting to €501.80bn in 2024.
Within the Media market, it is anticipated that 27.46% of total revenues in India will be generated through digital Media market by 2029.
In India, the media market is witnessing a significant shift towards digital platforms, driven by increasing internet penetration and changing consumer preferences for content consumption.

Key regions: United States, China, Japan, United Kingdom, Germany

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Analyst Opinion

The Media market in India has been experiencing significant growth in recent years, driven by changing customer preferences, emerging trends, and local special circumstances.

Customer preferences: Customers in India have shown a growing preference for digital media platforms, with an increasing number of people accessing content online through smartphones and other connected devices. This shift in preference has led to a rise in the demand for streaming services, social media platforms, and digital advertising. Additionally, there is a growing interest in regional and vernacular content, as customers seek out content that is more relatable and relevant to their cultural backgrounds.

Trends in the market: One of the key trends in the Indian media market is the rise of Over-The-Top (OTT) platforms. These platforms, which offer on-demand streaming of video and audio content, have gained significant popularity in recent years. This trend can be attributed to the increasing availability of affordable smartphones and high-speed internet connectivity in the country. OTT platforms have disrupted the traditional television and movie industries, offering customers a wider range of content choices and the convenience of watching their favorite shows and movies anytime, anywhere. Another trend in the Indian media market is the growing influence of social media platforms. With a large and active user base, social media platforms have become an important channel for content distribution and marketing. Companies are leveraging these platforms to reach and engage with their target audiences, and influencers are playing a significant role in shaping customer preferences and driving brand awareness. This trend is expected to continue as social media platforms evolve and become more integrated with other forms of media.

Local special circumstances: India is a diverse country with multiple languages and cultures, and this diversity is reflected in the media market. There is a strong demand for regional and vernacular content, as customers seek out content that resonates with their local identities. This has led to the emergence of regional media companies and the growth of regional language content across various platforms. Additionally, regulatory frameworks and censorship policies in India have also influenced the media market, shaping content production and distribution strategies.

Underlying macroeconomic factors: The growth of the media market in India is also influenced by underlying macroeconomic factors. India has been experiencing steady economic growth, with a rising middle class and increasing disposable incomes. This has led to an increase in consumer spending on entertainment and media, driving the growth of the market. Additionally, the government's focus on digitalization and initiatives such as "Digital India" have also played a role in shaping the media landscape, promoting digital connectivity and access to media content. In conclusion, the media market in India is developing rapidly, driven by changing customer preferences, emerging trends, and local special circumstances. The rise of digital media platforms, the popularity of OTT platforms, the influence of social media, and the demand for regional and vernacular content are shaping the market. Additionally, underlying macroeconomic factors such as economic growth and government initiatives are also contributing to the growth of the media market in India.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.