In 2023, the Indian online entertainment economy will be tripled increase...

Hello friends, in this article some info about the Indian online entertainment economy will be tripled increase in 2023.
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  • India's internet economy is increasing due to video, e-sports and music. Online entertainment economy is increasing due to the digital revolution and currently the annual growth of this sector is 21 8%. In 2018 the industry was 4464 crores, but by 2023 it is expected to increase three times to 11,976 crores. 
  • A new report has been told. That online entrepreneurship industry in India will take place in the top ten and by 2023, South Korea will reach the eighth position.


1. In online game development :-

  • Indians play online games and there is a possibility of huge growth in 2023, India will take the top 10 gaming market. By 2021, India's online gaming industry will be worth $ 1 billion. About 1 million people will be playing online games in India. Game development companies in India are also increasing. In 2010, there was only 25 game development companies, but in 2018 it has increased by 10 times - to 250.
  • Print media is also increasing the number of smartphones in India. After the Jiophone, the people have been using mobile internet in the country. The habit of watching video content in the phone is growing. However, our country is so large that smartphone owners also have limited usage. People still read news papers, books, magazines, and advertisements are growing in print media. In the year 2018, the number of digital news subscribers increased by 6%. People linger for at least eight minutes.
  • Although there is a good growth in the high-tech online platform in India, India still has a strong foothold in television. The growth of the TV industry is at 12 percent. Its growth has increased from Rs 66,000 crore in a year to Rs 74,000 crore. Advertising growth in TV has also grown at 11%. In 2018, compared to 30, 500 crores in 2017, advertising revenue was Rs 43, 500 crores. Even TV viewership 7.5% increase.


Who are the competitors? 

  • Currently there are many competitors in domestic and foreign countries in this industry. Online video platforms, including Hotstar, Netfix, Amazon Prime, JioTv, Alt balaji, MX Player, Voot, Zee Five, Soni liv, Eros Now, etc. are try to increase their stake, in terms of Netflix alone, the number of subscribers in the US was 5 million in 2018 and 13, 7. It was a million, but Netflix wants 100 million subscribers from India alone and that is possible.

2. Growth opportunities in the music sector :- 

  • India is weak in online infrastructure and due to this there is not much growth in e-sports and music. E - Sports and Music Development is up to 5%. Apart from this, music-radio-podcast sessions are also being developed. Gana, You-tube Music, Apple Music, Spotify etc. are also earning in this market. 96 percent of India's smartphone users listen to music. This figure is the biggest in the world because our country's population is also the same. The number of smartphones and smart speakers in our country is also increasing.
  •  Voice searches will grow in the coming days and companies will earn in this. People in India do not want to listen to music by spending money. So Apple Music has kept prices down. In the United States, it charges $ 999 or about 693 rupees, but in India it costs only 117 rupees. Indians do not have awareness about podcast After awakening, people will choose it. Very few people hear podcasts.
  • 25 lake consumers see only digital content in India. 50 lake people will see digital content only by 2021. digital media growth at 42 percent.
  • By 2023, the online entertainment industry will hit South Korea by eighth position. In India, there were only 25 game development companies in 2010, but in 2018, the number has increased to 10 times, to 250. Tough competition between indigenous and foreign companies in the online entertainment industry.
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