Media, entertainment industry may see 11-12% growth for next 5 years: Report

The industry may also double its revenue to reach Rs 7.5-8 trillion by 2022 from an estimated Rs 4.5 trillion in 2017, it said.

The media and entertainment industry is expected to record an average annual growth rate of 11-12% over the next five years, said a report by the consulting firm Boston Consulting Group (BCG) and Confederation of Indian Industry (CII).
 
The industry may also double its revenue to reach Rs 7.5-8 trillion by 2022 from an estimated Rs 4.5 trillion in 2017, it said.
 
As per report, the industry may create employment opportunity for 40 lakh people over the next 4-5 years.
 
“The Indian M&E sector has huge room for growth and can create four-five million jobs without much spending from public infrastructure. Digital platforms are proliferating and there are tremendous opportunities that never existed before—especially for creators, storytellers and technology providers,’’ Chandrajit Banerjee, director general, CII said in the report.
 
The report projected total employment across the industry to be 60-65 lakh by 2022 from the estimated 35-40 lakh in 2017. 
 
The use of technology, big data and analytics by industry players will create several new job roles and require massive skilling of the existing employees, it added.
 
Source: LiveMint

Add new comment