Income for media and leisure to develop double-digit in FY24: Crisil Scores

ANI | Up to date: Jan 08, 2023 19:33 IST

New Delhi [India], January 8 (ANI): The Indian media and entertainment sector could log a income development of 12-14 per cent on a yearly foundation to about Rs 1.6 lakh crore throughout the monetary yr 2023-24 (April-March), in opposition to the anticipated 16 per cent development within the present monetary yr ending March 2023, Crisil Scores stated.
Commercial income, which accounts for about 55 per cent of the sector’s income, is predicted to develop 14 per cent given its sturdy correlation with financial exercise.
“Additionally, the overall elections anticipated in mid-2024 will set off a rise in advert spend within the final quarter of subsequent fiscal,” the rankings company stated in a report earlier this week.

Subscription income, accounting for the stability 45 per cent, could develop at a comparatively slower tempo of 12 per cent.
“Whereas tv (TV) will proceed to dominate advert income share given its wider attain, digital will lead in development, rising 15-18 per cent yearly over the medium time period. It has emerged because the medium of alternative previously few years amid accelerated adoption of over-the-top (OTT) platforms, on-line gaming, e-commerce, e-learning, and on-line information platforms,” stated Naveen Vaidyanathan, Director, of CRISIL Scores.
Vaidyanathan added that digital has turn into the second-largest phase after TV when it comes to advert spending, and collectively, they account for over three-fourths of the advert income for the media and entertainment sector.
The print phase follows with a one-fifth share.
The print media, too, is predicted to see wholesome advert income development at 15 per cent in 2023-24, although it will nonetheless path the pre-pandemic stage by 800-1,000 foundation factors (100 foundation factors = 1 proportion factors), the rankings company stated. (ANI)