Media, entertainment industry to grow 4 times in 7 years

Photo related to media and entertainment industry.

New Delhi: According to a report, the Indian media and entertainment industry has the potential to grow three to four times over the next seven years due to digital media and increasingly connected rural consumers.

A report by the Confederation of Indian Industry (CII) and global business consulting firm BCG seeks to foresee the future of the Indian media and entertainment industry and plan a roadmap for it to achieve its $100 billion vision.

Excerpts of the report were released here on Monday. The full report will be released by CII-BCG on Tuesday at the 5th edition of the CII Big Picture Summit here.

The Confederation of Indian Industry Director General, Chandrajit Banerjee said, “With smartphones and mobile data becoming affordable, it is estimated that the number of connected rural consumers will increase from about 120 million in 2015 to almost 315 million in 2020, leaping over 30 per cent year-on-year. Rural consumption in recent times has been growing at a faster pace than urban consumption patterns.”