October 24, 2016 11:08:01 pm
Driven by digital media and increasing connected rural consumers, the Indian media and entertainment industry has the potential to grow 3-4 times over the next 7 years, according to Confederation of Indian Industry (CII). A CII-BCG report which will be released on Tuesday will give a roadmap to achieving its USD 100 billion vision, according to a statement released in New Delhi.
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The key opportunities that will act as drivers of consumption growth are – tapping the rural un-connected consumer, capturing a large share of time of the digitally connected consumer and a supply explosion for strategically segmented audiences, the CII said in a statement.
“With smartphones and mobile data becoming affordable, it is estimated that the number of connected rural consumers will increase from about 120 million in 2015 to almost 315 million in 2020, leapfrogging over 30 per cent year-on-year. Rural consumption in recent times has been growing at a faster pace than urban consumption patterns,” said Chandrajit Banerjee, Director General of CII.
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