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M&E sector witnessed 24% degrowth in 2020: FICCI & EY report
KOLKATA: Following a pandemic hit year, the Indian media and entertainment (M&E) sector declined by 24 per cent to Rs 1.38 trillion in 2020, compared to Rs 1.82 trillion in 2019. However, the allied sector is already seeing recovery with improvement in revenues for most segments in the last quarter of 2020. It is expected to recover 25 per cent to reach Rs 1.73 trillion in 2021, touching almost pre-Covid level scale, according to a report by FICCI and E&Y.
The report titled ‘Playing by New Rules: India’s M&E sector reboots in 2020’ states digital and online gaming were the only segments which grew in 2020, adding an aggregate of Rs 26 billion and consequently, their contribution to the M&E sector increased from 16 per cent in 2019 to 23 per cent in 2020.
Other segments dropped by an aggregate of Rs 465 billion. Largest absolute contributors to the fall were the filmed entertainment segment (Rs 119 billion), print (Rs 106 billion) and television (Rs 102 billion). The share of traditional media (television, print, filmed entertainment, OOH, radio, music) stood at 72 per cent of M&E sector revenues in 2020.
However, television stood as the largest sector despite a 22 per cent downturn in advertising revenues on account of highly discounted ad rates during the lockdown months. Moreover, the sector also witnessed a seven per cent fall in subscription income, led by the continued growth of free television, reverse migration and a reduction in ARPUs due to part implementation of NTO 2.0.
On the other side, digital advertising did not see much impact, led by increased allocation from traditional advertisers who accelerated their investments in digital sales channels. SME advertisers continued to spend on the medium and experimented more with e-commerce platforms like Amazon and Flipkart.
For the first time ever, OTT subscriptions surpassed the 50 million mark. From 28 million paid subscriptions, it went up to 53 million in 2020 leading to a 49 per cent growth in digital subscription revenues. Growth has been attributed largely to Disney+ Hotstar, which put the IPL behind a paywall during the year. Increased content investments by Netflix and Amazon Prime Video and launch of several regional language products also catalysed the growth, the report added.
Online gaming crossed all the marks with 18 per cent growth helped by work from home, school from home and increased trial of online multi-player games during the lockdown. Online gamers grew 20 per cent to reach 360 million in 2020.
Among the pandemic hit sectors, print’s revenue declines were led by a 41 per cent fall in advertising and a 24 per cent fall in circulation revenues. Theatrical revenues plummeted to less than a quarter of their 2019 levels, partly offset by direct-to-digital releases.
“While the M&E sector usually grows faster than GDP, it also falls more than GDP degrowth, given the discretionary nature of advertising. In 2020, when the GDP fell by eight per cent advertising fell over 25 per cent while the sector overall fell by 24 per cent,” the report read.
The M&E sector is expected to rebound in 2021 and double to around Rs 2.68 trillion by 2025, the recovery of various segments will vary albeit. TV, film, music will take one to two years, animation and VFX will take two to three years; print, radio, OOH will take the longest time, even more than three years.
News Broadcasting
Induction cooktop demand spikes 30× amid LPG supply concerns
Supply worries linked to West Asia tensions push households and restaurants to turn to electric cooking alternatives
MUMBAI: As geopolitical tensions in West Asia ripple through global energy supply chains, the familiar blue flame in Indian kitchens is facing an unexpected challenger: electricity.
What began as concerns over the availability of liquefied petroleum gas (LPG) has quickly evolved into a technology-driven shift in cooking habits. Households across India are increasingly turning to induction cooktops and other electric appliances, initially as a backup but now, for many, a necessity.
A sudden surge in demand
Recent data from quick-commerce and grocery platform BigBasket highlights the scale of the shift. According to Seshu Kumar Tirumala, the company’s chief buying and merchandising officer, demand for induction cooktops has risen dramatically.
“Induction cooktops have seen a significant surge in demand, recording a fivefold jump on 10 March and a thirtyfold spike on 11 March,” Tirumala said.
The increase stands out sharply when compared with broader kitchen appliance trends. Most appliance categories are growing within 10 per cent of their typical demand levels, while induction cooktops have witnessed explosive growth as households rush to secure an alternative cooking option.
Major e-commerce platforms including Amazon and Flipkart have reported rising searches and orders for induction stoves. Quick-commerce apps such as Blinkit and Zepto have also witnessed stock shortages in major metropolitan areas including Delhi, Mumbai and Bengaluru.
What was once considered a convenient appliance for hostels, small kitchens or occasional use has suddenly become an essential addition in many homes.
A crisis thousands of miles away
The trigger for this shift lies far beyond India’s kitchens.
Escalating conflict in the Middle East has disrupted shipping routes through the Strait of Hormuz, one of the world’s most critical energy corridors. Nearly 85 to 90 per cent of India’s LPG imports pass through this narrow waterway, making the country particularly vulnerable to supply disruptions.
The ripple effects have been swift.
India currently meets roughly 60 per cent of its LPG demand through imports, and tightening global supply has already begun to affect domestic availability and prices.
Earlier this month, the price of domestic LPG cylinders increased by Rs 60, while commercial cylinders rose by more than Rs 114.
To discourage panic buying and hoarding, the government has also extended the mandatory waiting period between domestic refill bookings from 21 days to 25 days.
Restaurants feel the pressure
The strain is not limited to households. Restaurants, hotels and roadside eateries are also grappling with supply constraints as commercial LPG availability tightens under restrictions imposed through the Essential Commodities Act.
In cities such as Bengaluru and Chennai, restaurant associations report that commercial LPG availability has dropped by as much as 75 per cent, forcing many establishments to rethink their kitchen operations.
Some restaurants have reduced menu offerings, while others are rapidly installing high-efficiency induction systems, creating hybrid kitchens where electricity now shares the workload with gas.
For smaller eateries and roadside dhabas, the shift is less about sustainability and more about survival.
A potential structural shift
The government has maintained that there is no nationwide LPG crisis and has directed refineries to increase production to stabilise supply.
Nevertheless, the developments of March 2026 may already be triggering a longer-term behavioural shift.
For decades, LPG has been the backbone of cooking in Indian households. However, recent disruptions have highlighted the risks of relying on a single fuel source.
Increasingly, households appear to be hedging against uncertainty by adopting electric cooking options to guard against price volatility and delivery delays.
If the current trend continues, the induction cooktop, once viewed as a niche appliance, could emerge as a quiet symbol of India’s evolving kitchen economy.
