The Media & Entertainment (M&E) Industry – The Sunrise Sector
The Indian Media and Entertainment (M&E) industry is a sunrise sector for the economy and is making significant developments. Proving its resilience to the world, and Indian Media and Entertainment industry is on the tip of a strong phase of growth, backed by rising consumer demand and improving revenue.
The M&E Sectors:
Advertising | Print Media | Digital Media | 2D Animation | 3D Animation | Visual Effects | Television Broadcasting | Filmmaking | Audio & Video | Gaming | Simulation | Augmented Reality (AR) & Virtual Reality (VR) | E-Learning | Interior Design | Fashion Design and many more…
M&E Allied Sectors:
Information Technology (IT) | Industrial Design | Research | Healthcare | Education | Agriculture | Banking | Bio-Technology | Construction | Engineering | Food & Beverages | Manufacturing | Medical | Pharmaceutical | Real Estate | Telecom | Textile | Transport and many more…
Advantage India – Facts:
- The Indian Media & Entertainment (M&E) industry is projected to increase at a Compound Annual Growth Rate (CAGR) of 13.5% from 2019 to 2024 and is estimated to reach US$ 43.93 billion by 2024.
- The Animation, Visual Effects, Gaming and Comic (AVGC) Sector is growing at a rate of 29%, while the audio-visual sector services is rising at the rate 25%; is recognised as one of the champion sectors by the Government of India.
- Gaming in India stood at Rs. 90 billion (US$ 1.23 billion) in FY20, increasing at a CAGR of 26% between FY20 and FY22 to reach Rs. 143 billion (US$ 1.96 billion).
- The rapid growth of OTT channels, increased emphasis on Animated Intellectual Property (AIP) content and larger investments in Visual Effects (VFx) by the studios has provided huge opportunities in both domestic and international markets
- The Media & Entertainment (ME&E) industry is going to generate 7-8 lakh jobs by 2022-23 and will require 1,60,000-1,80,000 trained professional workforce every year for the next five years from now.
- As per the recent survey, the professionals working in the M&E Industry earn a median salary of 4 LPA, and 8 LPA for 3 to 4 years experienced employees. There is no limitation for earning, for the creative and talented professionals.