Posted on February 24, 2020 at 9:11 pm

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The Market Defining Entertainment Niche of India’s Economy

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The entertainment niche in India is a vibrant industry that is expected to hit $ 43 million (Rs 307,000 crores) by the year 2024 and provides direct and indirect employment to over five million people. Consumables in this niche include media such as TV, print, films, gaming, music, and digital advertising, which have registered the fastest 20-year growth in India. This positive market rebound of the Indian entertainment industry is mainly due to the rise in consumer spending after the 2008 global financial crisis and driven by the proliferation of the internet.

Coupled with this, record earnings are being gained in sectors to do with entertainment such as video, online gambling, and music due to a backdrop of innovative technology, as India is now the second-largest internet population in the world. One of the leading online casino platforms in India is Come On casino, which is a relatively new kid on the block, having been established in 2008. Being new, however, doesn’t mean that this gaming provider is a rookie, and ComeOn casino has made several strides in less than a decade to strike for you the right balance between unique design features and a reputation for reliability.

Photo by Headway on Unsplash
Photo by Headway on Unsplash

Sectors of the entertainment niche in India worth noting include;

Television

This is one of the major Indian mass communication and entertainment sectors and boasts as being the world’s second-largest television watching market, with thousands of program offerings. There are small screen celebrities who have achieved national and international fame, while soap operas register as being more popular with working women or homemakers. The Indian national television network is called Doordarshan and is one of the largest broadcasting companies in the world, with a market share of over 54 million consumers.

Print 

The print industry in India, especially the newspaper and magazine sectors with their moves towards digitization, is showing a steady growth rate year in and year out. With more than 90 million copies in circulation, the Indian print media and entertainment market is only second to china’s 130 million copies globally, with more newspapers having an online presence. Growth in the local advertisement has taken the entertainment segment of Indian media to focus on regional towns, and there’s been a press-wide shift to specified content.

Film and animation

One of the most important and forward-moving forms of entertainment in India is film, having an industry that is termed as a world giant in terms of material produced. More than 23 million Indians go to the movies each year, and the industry spans approximately 1000 different languages, including Tamil, Hindi, Telugu, Bengali, Malayalam, and Punjabi. The Indian film sector employs over 6 million people as regular and contract employees, and big-budget box office hits can cost more than $ 30 million.

Since Films Division of India’s cooperation with Clair weeks of Disney studios in 1956, the Indian animation industry was established and has been encompassing 2D, 3D, and traditional visual effects for feature films. This rising sector has also seen the local Indian TV animations series become an accepted film entertainment alternative while veteran animators have established their careers there.

Radio

India has one of the oldest radio networks, having been created by the British colonialists with the radio club of Bombay in 1923, and has grown into one the largest in the world. With a significant impact on the entertainment sector of the country, no private enterprises were allowed to run radio station services until 1990. Increased profitability and favorable license terms have seen a rise in the interest of major international players in the frequencies market, and the Indian government has gone ahead and cut fees to a tenth of the former amount.

Online casinos 

Online gambling is legal in India and has become one of the major sectors of the entertainment niche, with offshore licensed platforms augmenting the somehow restricted local operators. Platforms such as ComeOn casino give you excellent game spreads on backdrops of attractively designed gaming interfaces, giving traditional raffles and lotteries a run for their money. These online entertainment options have multi-device capability and offer robust promotional bonuses while simplifying payment services in INR for their deserving Indian clientele.

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