Media and Entertainment industry on-track to reach $55-70B by 2030: CII-BCG Big Picture 2021 Report

04 December 2021: Confederation of Indian Industry (CII) and Boston Consulting Group (BCG) have unveiled the flagship report of the media and entertainment sector titled, ‘Blockbuster Script for the New Decade: Way Forward for Indian Media and Entertainment Industry. The report explores the Media and Entertainment industry’s recovery after the impact of the COVID-19 pandemic and highlights key imperatives for achieving its potential over the next decade. K. Madhavan, Chairman, CII National Committee on Media & Entertainment and President, The Walt Disney Company India and Star India says, “It is delightful to see that the hard work put in by all stakeholders in the face of great challenges, both professional and personal, has paid off and now our industry is back on track. Media and entertainment played a crucial role in helping the country navigate and overcome this crisis and reinforced its role in people’s lives”. The report projects that the industry is set to grow to $55-70B by 2030 at a CAGR of 9-11%, with digital video and gaming being the biggest growth drivers.

Commenting on the report, Chandrajit Banerjee, Director General, CII, said, “CII has maintained its thought-leadership in Media and Entertainment sector over the years through various measures. Industry as well as Government and policy makers value the inputs which CII initiatives add to the knowledge pool of the sector. This year’s report, once again put together by BCG with the help of CII Media and Entertainment Committee, looks at the decade ahead, will help businesses chart their growth path and aide the government in framing enabling measures to facilitate further expansion of the sector.”

Siddharth Roy Kapur, Co-Chairman, CII National Committee on Media & Entertainment and Founder & Managing Director, Roy Kapur Films said, “Film production and film exhibition were amongst the worst affected sectors in the M&E business due to the pandemic. After a long period of shutdown, cinema halls are now back in business with a bang. A record number of big-ticket movies are lined up for release well into 2022. That augurs well for the sector but caps on occupancies, closures of cinemas and modified audience behaviour might impact the speed of recovery. On the other hand, streaming has provided new avenues for screening and broad-based the options available for producers, artistes and technicians. Along with the rise of regional cinema, this marks the start of a truly fantastic decade ahead for the Indian content business. Kudos to team CII and BCG for another enriching edition of the Big Picture report.”