According to a new report, South India’s media and entertainment industry will grow by 33 percent and generate a record revenue of $3.57 billion by 2022.
The report titled ‘South India: Media and Entertainment Country Survey’ has been prepared by the group Maccube Insights for the Confederation of Indian Industry (CII) South Region and released at the recently concluded South Conference. Tamil Nadu, Andhra Pradesh, Telangana, Karnataka and the four languages Tamil, Telugu, Kannada and Malayalam, Vector covers the region’s key sectors (film, television, streaming/digital, radio and print) in detail. , Kerala and the Union Territory of Puducherry.
Movies 2022 leads to $955 million in 2022, a 96 percent increase from the $486 million in 2021. Streaming and digital distribution grew 20% to $366 million; Push 14% to $597 million; and radio rose 24% to $102 million. Overall, the M&A industry is expected to grow by 17% to reach $4.1 billion in revenue by 2023.
South India accounts for 20% of the country’s total population of 1.4 billion but accounts for 31% of its GDP. This significant contribution is reflected in the figures for each sector in the report. For example, according to the report, the revenue of the film industry is estimated at 1.8 billion dollars in 2022, while for South India it is estimated at 955 million dollars or 52 percent.
The largest segment is Tamil Nadu, which has all-time hits in the form of “Ponyin Selvan: 1” and “Vikram” with a market size of $359 million. Then came the $305 million Telugu industry led by the Oscar-winning blockbuster RRR; Canadian-language industry including “KGF: Chapter 2” and “Kantara” with $191 million; and the $99.4 million Malayalam language industry managed by Bhishma Parvam.
Domestic films accounted for the highest share of revenue from films in the four languages at $346 million, followed by streaming/digital rights at $224 million and satellite rights at $161 million. Coincidentally, script rights for Hindi and other North Indian languages fetched an impressive $135 million at a time when South Indian films were being released nationally. The rest goes to foreign theater and music rights.
However, the report includes a caveat regarding revenue projections for 2023. While the Tamil, Telugu and Malayalam language markets are expected to grow by 15%, 5% and 11% respectively, the Kannada language market is expected to decline by 47%. % due to lack of potential blockers like KGF this year. : Chapter 2” or “Kantara” so the total movie market is expected to decrease by 1% in 2023 with a revenue of 946 million dollars.
The report states that the total number of cinemas in India is 8,700, of which 4,216 or 48% are located in South India. 3,078 are individual units and 1,138 are multiple units.
Regarding live streaming, the report cites data from media analyst Ormax, which said penetration of 36 percent represents an audience of 105 million people in South India, which is expected to grow by 18 percent by 2023. $487 million by 2023.
“The South Indian M&E sector is poised for significant growth as seen in this report, with four regional language films setting new benchmarks for the industry,” said TG Thiagarajan, Producer, Head of Media and Entertainment, CII South Region. Force it. .
For more stories like this, follow us on MSN by clicking the button at the top of this page.
Click here to read the full article.