Indian entertainment industry is expected to see a CAGR of 13.9% during the period (2019-2025). India is one of the fastest-growing countries in the global entertainment industry. As per the Indian Brand Equity Foundation, (IBEF) Indian media and entertainment industry registered a CAGR of more than 10.9% during 2018 and is expected to grow at a CAGR of 13.1% during 2018-2023 and is projected to hit $39.6 billion in 2023 from $22.2 billion in 2018. The next decade is expected to witness significant evolution through digital technologies which will increase their influence across the industry-leading to a change in consumer behavior across the segments. Along with this, the industry employs more than 5 million people, including both direct and indirect employment as of 2017. Thus, India has a huge market of media and entertainment, and before the COVID-19 crisis, the Indian entertainment industry was showing strong year-on-year growth. COVID-19 pandemic startled the Indian economy owing to a month-long lockdown that is expected to hit the entertainment industry significantly. The impact of the COVID-19 pandemic will continue to outshine the entertainment industry since there is a possibility of partial lockdowns in the months to come. The country has halted all theatrical and film productions since March 2020 to slow down the spread of the COVID-19 pandemic. 

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Indian entertainment industry is segmented into online video streaming, amusement parks, theatrical & film productions, sports, and live events and trade shows. Based on the segmentation, the live events and trade shows industry is expected to get highly affected due to the outbreak of a pandemic. The major factor for the downfall of the live events and trade shows industry includes stern government restrictions for the travel and tourism coupled with the practice of social distancing, regarding the rapidly spreading COVID-19 across the globe. It is expected that the restrictions on large gatherings will be in place for some more time, which will result in lower attendance at events. Moreover, the amusement & theme parks is another industry vertical significantly affected by the COVID-19 pandemic. Theme parks across the globe have been closed to prevent COVID-19 pandemic.

Moreover, the major India-based entertainment companies such as Adlabs Imagicaa, Disney+ Hotstar, Eros International Media Ltd., Viacom18 Motion Pictures’, Zee Entertainment Enterprises Ltd., and Dharma Productions Pvt. Ltd., are facing the significant impact of the COVID-19 outbreak that further affect the entertainment industry in the country. Among the productions obstructed are Viacom18 Motion Pictures’ ‘Forrest Gump’ among others.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the Indian entertainment industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior, and macro-economic factors. The report includes an analysis of different regions and countries and the effect of COVID-19 on the entertainment industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of the Indian entertainment industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Indian entertainment industry.
• Insights about market determinants which are stimulating the Indian entertainment industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.