1、March 2024#ReinventIndias media&entertainment sector is innovating for the futureMedia&entertainmentAlia BhattActor,ProducerFORE3When the good folks from FICCI and EY asked me to do this foreword,I told them Im more about stories than about numbers.But when they shared some key numbers with me,an in
2、teresting story emerged.Indias media and entertainment industry tends to outpace the nations GDP growth.Last year,the industry grew over 8%,despite global headwinds.While traditional media,such as television and radio,continue to dominate the market reaching 800 and 400 million consumers respectivel
3、y,digital has truly caught up,recording a reach of 600 million.While print,with a reach of 300 million,and cinema with 100 million,may appear smaller,they continue to remain essential in shaping the future of the industry.What is clear from 2023 is that digital is not eating away share from the othe
4、r mediums but is additive to the industry.The reach of online news is higher than that of newspapers or news television.Digital video is now larger than television in certain areas of the country,with online sports setting global viewership records.And online entertainment platforms cater to audienc
5、e segments both from an original content perspective as well as for catch-up television.Yet,untapped opportunities abound.A third of India does not have a television,and over half do not yet use social media.90%of Indians do not visit cinemas,and only one in 10 Indian households has a wired broadban
6、d connection.The potential for growth is immense,and both digital and traditional media have significant headroom to scale in the years ahead.The numbers tell a story.And the world is sitting up and taking note of Indias amazing story.It is not a digital divide,but a digital multiplier!WORDMedia&ent
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