Digital media startups make up 28% of total M&E sector: MIB Report
A recent report by the Ministry of Information and Broadcasting revealed that the digital media news and publishing sectors together saw the emergence of 36 new ventures
A recent report by the Ministry of Information and Broadcasting revealed that digital media saw an emergence of about 100 startups as a sub-sector in the Media and Entertainment industry, making up 28.20 per cent of the total M&E sector in 2022.
The next largest contributor to the M&E sector was the entertainment sub-sector of startups with 28 per cent of the share.
The digital media news and publishing sector together saw the emergence of 36 new ventures.
OOH Media and digital media blogging startups took up the least amount of the pie by acquiring just 0.80 per cent, with the emergence of just three startups in 2022.
Quoting figures from the EY-FICCI Report of 2023, the M&E report also noted the gradual growth of the digital media sector in the past five years. In 2017, the sector stood at just Rs 119 billion and grew to Rs 571 billion in 2022, making it a remarkable 380 per cent increase in five years.
Looking forward, the report revealed the sector is expected to be worth Rs 862 billion by 2025, marking a jump of 50 per cent.
