Ace Awards: Honouring Brilliance in Marketing 2023 | Financial Express (India) | 22 November 2023 | TBA, Mumbai, India

The past three and a half years have been tumultuous, due to the outbreak of Covid-19. The pandemic has brought about significant changes in the way we communicate and purchase goods and services. According to the FICCI-EY report ‘Windows of opportunity - India’s media & entertainment sector maximising across segments’, the Indian Media and Entertainment (M&E) sector grew 20% in 2022 to reach Rs 2.1 trillion ($26.2 billion), which is 10% above its pre-pandemic levels in 2019. It is expected to grow a further Rs 734 billion, to reach Rs 2.83 trillion in 2025.
Digital media has grown significantly, reaching INR 571 billion and increasing its contribution to the M&E sector from 16% in 2019 to an astonishing 27% in 2022. It is important to note that the digital segment's share of the entire M&E sector would rise to 50%, if data costs were also to be factored in.