Mumbai, 22nd August, 2019: As per the recent report launched by KPMG on Media and Entertainment (M&E), titled ‘India’s Digital Future: Mass of Niches’ that examines the evolution of India’s digital demography to 2030, the media and entertainment industry is expected to grow 13.5 percent per annum during FY19-24 to reach Rs 3.07 trillion in FY24 on the back of greater focus on monetization of emerging digital business models, strong regional opportunities and favorable regulatory and operating scenario across traditional businesses.
Shakir Ebrahim, Founder and Creator of Bisbo expressing his take on the report said, “‘Mass of niche’ compelling content in local languages’ is what is required by Indian content creators if they wish to survive the onslaught of the deep-pocketed OTTs. Frivolous content of jokes and memes is the lowest hanging fruit and is the entry point for the masses. As content explodes and digital habits mature, they will look for VFTS; Value for time spent. KPMG’s M&E report rightly predicts the rise of subscription among digital platforms, a business model we have believed in right from the beginning at Bisbo. “
Television and print has been disrupted by the digital media and is poised to become the second largest segment after television with 20% share, also the maximum advertising spend by FY22. The digital advertising is expected to be the largest medium, surpassing television with 35.5% share of total ad pie. The growth of internet users in rural areas is almost three times that of the urban. Also, digital revolution has been the prime contributor to the significant growth of online Gaming, Animation, VFX and postproduction
About the Shakir Ebrahim, Founder and Creator of Bisbo: Shakir Ebrahim, aged 54, is a Mumbai based serial entrepreneur, seasoned businessman with a demonstrated history of working in the publishing industry. He is a skilled content creator, newshound, script-writer, editor and believes in the future of animated video journalism. At the age of 25, (1991-93) he had published the same concept in print called, “The World in Pictures”, it was way ahead of its time then.