Media and Entertainment

The global media and entertainment industry is always poised for growth. Both consumer spending and time are thoroughly shifting to the digital alternatives. Subsequently established and new media and entertainment companies have been able to monetize customer engagement. Mergers and acquisitions of several big brands along with integration of high end technologies have been a key driver to this industry. Developing countries like India have more than 161 million television households, 214 million internet users, more than 2000 multiplexes, 130 million mobile internet subscribers and more than 94,067 newspaper/magazine subscribers. The growth rate for countries like United State is even more elaborate. The digitization of media has however been thoroughly helped by the growth in mobile technology. It is estimated that by 2018, the revenues for the global media and entertainment industry will increase by another 27.7%. For the Indian Subcontinent alone, the revenues will touch the figures of INR 1785.8 billion by the year 2018.

The media and entertainment industry worldwide is seeing a business wide transformation and the market is in the crucial period where both current and new business models seek to co-exist. Companies, as a result are keeping a thorough watch on consumer demands and changing cost structures. IT services have indeed been able to help the players to reach a wider amount of audience and increase their revenues.