EY released a report titled 'Digital Opportunity, Indian media and entertainment' at vdonxt Asia 2017.
At vdonxt asia, the two day convention focusing on the future of digital business, began with consulting firm EY (formerly Ernst and Young) launching it's report titled 'Digital Opportunity, Indian media and entertainment'.
Raghav Anand, digital media segment champion, India, started his presentation stating India and China as two biggest markets for digital business in Asia. He said, "The next four years would be a defining moment for bandwidth heavy content."
Vernacular content is already creating a lot of buzz in the traditional broadcast business and the EY-vdonxt report sees similar trends being followed in the digital space too. Aggregating and producing content may help capture a larger share of users in India according to the study.
EY estimates that India has 477 million Internet subscribers as of 2016 and Anand feels it is imperative that traffic on digital platforms will grow with time, "But the traffic growth needs to be translated to revenue and that is the key," he mentioned.
The report estimates that digital ad spending will go up from INR 81 billion in 2016 to INR 185 billion by 2020. Currently India's total media spending is INR 560 billion which is estimated to grow to INR 924 billion by 2020.
Here is the full EY-vdonxt Report:
Event partners include: Adobe (Presented By), Viu (Powered By), Akamai (Technology Partner), Voot (Digital Partner), EY (Knowledge Partner), Unruly (Video Partner), Dropbox Business (Collaboration Partner), Web Talkies (Entertainment Partner), 101India.com (New Age Digital Partner), Culture Machine (Content Partner), 24 Frames Digital (Streaming Partner), Blogadda.com (Blogging Partner), NDTV Prime (TV Partner), Content Asia (International Media Partner), and Advertising Agencies Association of India and The Advertising Club (Community Partners).