Digital media likely to touch $5.1bn, exceed Print by 2021: Report
India is likely to have 30 to 35 million paying OTT video subscribers and 6 to 7 million paying audio subscribers by 2021, says the FICCI-EY report
The digital media is likely to overtake film entertainment in 2019 and the print media by 2021 to reach a target of $5.1 billion in two years, media reports have cited a FICCI-EY report.
It said the digital media has seen a 42 per cent growth in 2018 and Indians have been spending 30 per cent of their phone time on entertainment. The digital medium is expected to be $3.2 billion in 2019.
In 2018, while the number of online video viewers stood at 325 million, there were 150 million audio streaming users.
As per the FICCI-EY report, India is likely to have 30 to 35 million paying OTT video subscribers and 6 to 7 million paying audio subscribers by 2021.
It has valued the advertising-led model at $2.2 billion and the subscription at $0.2 billion for 2018. By 2021, the ad model is estimated to be $4.3 billion and the subscription model to be $0.8 billion.
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