Digital media startups reshaping the M&E landscape: MIB report

According to a recent report from the Ministry of Information and Broadcasting, the digital media landscape has seen a surge of around 100 startups, establishing itself as a prominent sub-sector within the continuously evolving Media and Entertainment industry. These startups accounted for a substantial 28.20 percent share of the overall M&E sector in 2022.

The second-largest contributor to the M&E sector was the entertainment sub-sector of startups, claiming a significant 28 percent market share. Additionally, the digital media news and publishing segment experienced substantial growth, with the emergence of 36 new ventures. On the other end of the spectrum, OOH Media and digital media blogging startups had a smaller presence, making up only 0.80 percent, with just three startups emerging in 2022.

Drawing from the data presented in the 2023 EY-FICCI Report, the M&E report highlighted the gradual expansion of the digital media sector over the past five years. In 2017, the sector was valued at a modest Rs 119 billion, experiencing an impressive 380 percent growth to reach Rs 571 billion in 2022.

The report anticipates further growth, projecting the sector to be valued at Rs 862 billion by 2025, indicating a substantial 50 percent increase.