India is submerged by the digital wave with the number of digital consumers growing at a supersonic rate. If you’re a marketer, you would want to see these statistics.
The 2019 edition of the FICCI-EY Report provides insights and statistics on the Indian media & entertainment (M&E) sector. The digital infrastructure built on the ground of Indians fulfiling their content consumption estimated to produce and license around 750,000 hours of content in 2018.
Traditional Marketing is feeling the digital turbulence as this phenomenon is causing large shifts in consumer behaviour. Digital Media grew 42% to reach INR 169 billion. 325 million viewed videos online and 245 million people consumed news online.
Digital ad spends have grown 34% to INR 154 billion and now contribute to 21% of the total ad market.
There are over 300,000 small and medium enterprise advertisers using digital media, large ad platforms claim.
BFSI, telecom, consumer durables and e-commerce are the four categories spent over 30% of their ad spends on digital media.
The future of digital media looks bright and shiny. Digital is estimated to overtake film by 2019 and print by 2021. Advertising is evaluated to reach INR 300 billion by 2021 and subscription to cross INR 50 billion, by 2021.