毕马威-2020年印度媒体和娱乐报告（英文）-2020.9-272页_17mb

报告摘要

Summary of KPMG in India's Media and Entertainment Report 2020

Core Content

This report by KPMG in India provides an in-depth analysis of the performance and future outlook of the Media and Entertainment (M&E) sector in India during FY20 and projections for FY21 and FY22. It highlights the impact of the global economic slowdown and the unprecedented disruption caused by the COVID-19 pandemic on the sector, as well as the resilience and growth opportunities in digital and gaming segments.

Main Points

Sector Performance in FY20

The M&E sector in India grew by 7% in FY20 to reach INR 1.75 trillion, with a CAGR of 10% over FY16-20.
Advertising revenue growth was 3%, down from 14% in FY19, due to the slowdown in economic activity and the impact of the pandemic.
Digital and OTT video grew by 26%, and gaming by 45%, outperforming other segments.
Television continued to be the largest revenue contributor, with 9% growth in FY20, driven by subscription revenues from NTO 1.0.
Print, Out of Home (OOH), and Radio saw declines, with Print declining by 8%, OOH by 9%, and Radio by 13%.

Impact of the Pandemic on M&E

The lockdown caused a 23.9% GDP decline in Q1FY21, severely impacting the M&E sector.
Outdoor entertainment (cinemas, events) and advertising faced significant disruption.
Digital consumption surged as people shifted to online activities, with digital advertising expected to overtake TV advertising in FY21.

Projected Performance for FY21 and FY22

The M&E sector is expected to contract by 20% in FY21, with Print and Films suffering the most.
Digital and Gaming are projected to be the only segments to grow, with digital expected to grow by 17% in FY21 and 33% in FY22.
Television is expected to recover in FY22, with subscription revenues likely to rebound and advertising to follow.
The sector is projected to regain its growth trajectory by FY22, reaching INR 1.86 trillion.

Key Segments

Digital and OTT

Performance: Grew by 26% in FY20, with digital advertising growing by 24%.
Projections: Expected to grow by 17% in FY21 and 33% in FY22.
Trend: Increasing user adoption, especially from Tier 3 and below cities, and a shift towards digital-first models.

Television

Performance: Grew by 9% in FY20, driven by NTO 1.0 and subscription growth.
Projections: Expected to decline by 9% in FY21 but recover by 9% in FY22.
Trend: Viewership likely to return to pre-pandemic levels, but content cost rationalisation may reverse in the long term.

Print

Performance: Declined by 8% in FY20, with English print suffering more than regional segments.
Projections: Expected to decline by 38% in FY21 but recover by 57% in FY22.
Trend: Reduced dependency on advertising, with a focus on monetising quality content and streamlining legacy cost structures.

Films

Performance: Flat in FY20, with theatrical distribution halted and direct-to-OTT releases increasing.
Projections: Expected to decline by 67% in FY21 but recover by 196% in FY22.
Trend: Shift towards Cinema 2.0 and economics-driven OTT releases.

Animation, VFX and Post-Production

Performance: Grew by 15% in FY20 due to increased focus on IP content and VFX outsourcing.
Projections: Expected to decline by 51% in FY21 but recover by 56% in FY22.
Trend: Work from home disrupted operations, but cost structures are expected to rationalise in the long term.

Gaming

Performance: Grew by 45% in FY20, with RMG and casual gaming seeing strong traction.
Projections: Expected to grow by 10% in FY21 and 45% in FY22.
Trend: In-app monetisation and virtual social interaction are likely to drive long-term growth.

Music

Performance: Grew by 15% in FY20, with digital platforms contributing the most.
Projections: Expected to decline by 25% in FY21 but recover slightly by 16% in FY22.

Radio

Performance: Declined by 13% in FY20.
Projections: Expected to decline by 50% in FY21 but recover by 40% in FY22.

Key Themes

Digital Demography: India is projected to reach 1 billion digital users by 2028, not 2030, due to the accelerated adoption of digital services post-pandemic.
Content Supply Chain: Disruptions led to innovation and adaptation, especially in digital and gaming.
Gaming as a Scalable Opportunity: The sector is growing rapidly, driven by user engagement and monetisation.
Emerging Technologies: Digital tools are becoming essential for business continuity and customer engagement.
NTO 2.0: Expected to constrain TV subscription revenues and shift focus to digital models.
Edutainment: Becoming a key growth area, with increased focus on immersive learning.
News Genre: Increasing importance in times of crisis, with reliability being a key concern.
Kids Genre: Emerging as a growth opportunity, with digital platforms leading the way.

Organisational Priorities Post-COVID-19

CXO Survey Insights:
- Workforce safety and transition back to on-site roles were the top priorities.
- Governance structures and business continuity planning were also critical.
- Digital integration and improving internal controls were the next priorities.
- 95% of respondents expected a greater focus on digital initiatives in the near future.
- Content creation and post-production were identified as areas where technology would provide the greatest benefit.
- Customer focus and revenue growth were the main drivers for digital initiatives, while cost minimisation had the lowest priority.

Recovery Timelines

34% of respondents expect their segments to recover within 9-12 months.
24% are confident in new opportunities during the recovery phase.

Conclusion

The M&E sector in India has experienced significant disruption due to the pandemic and economic slowdown, but the digital and gaming segments are showing resilience and growth. The report suggests that the sector will recover in FY22, with a 33% growth expected, and that the digital revolution in India is accelerating, leading to a new homogeneity in digital consumption. Organizations are shifting their focus to digital-first models, and the integration of technology is seen as a key enabler for recovery and growth.

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