’s media and entertainment sector collapsed by nearly a quarter in 2020. But an industry study projects a robust rebound.
The slump was very significantly worse than the 8.9% drop in India’s GDP announced by credit rating agency Moody’s. The television segment fell 13% from $10.8 billion in 2019 to $9.4 billion in 2020, mainly due to reduced advertising revenues. There were also increased content investments by Netflix and Amazon Prime Video and launches of several regional language products. In addition, 284 million Indians consumed content which came bundled with their mobile data plans.
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