Television shrinksEvery year the M&E Industry does a round of introspection. It had, as it does every year, an optimistic ring; but a careful read reveals how much the industry is struggling. The big slowdown in advertising in the first half of CY2023 took a toll, especially television, the largest of the entertainment segments. Ad revenue actually fell 6.5% due to a slowdown in spending by gaming and D2C brands. There was a marginal growth in subscription, but overall television revenues were down 2% to Rs 69,600 crore in 2023 from Rs 70,900 crore in the previous year.

Source: Indian Express March 10, 2024 21:14 UTC