Overview of the Indian Media and Entertainment Sector.
FY 2022-23 was a year of recovery for the cinema exhibition industry as box office collections recovered to almost pre-pandemic levels.
The Indian M&E sector continued its strong growth trajectory. It grew by INR 348 billion (19.9%) to reach INR 2.1 trillion (US$26.2 billion), 10% above its pre-pandemic 2019 levels While television remained the largest segment, digital media cemented its position as a strong number two segment, followed by a resurgent print The filmed entertainment segment recovered as theatrical releases doubled, and reclaimed the fourth position overtaking online gaming The share of traditional media (television, print, filmed entertainment, OOH, music, radio) stood at 58% of M&E sector revenues in 2022, down from 71% in 2019
Future Outlook:
The M&E sector is expected to grow 11.5% in 2023 to reach INR 2.34 trillion (US$29.2 billion), then grow at a CAGR of 10% to reach INR2.83 trillion (US$35.4 billion) by 2025.
High-end cinemas will evolve into "experience zones" to cater to top-end multiplex audiences who watch movies for their spectacular experience and to enjoy an evening out with friends and family – a market we estimate at around over 100 million customers / 40 million households by 2025 In addition, a set of lower-priced "cinema products" will emerge for the next 100 to 150 million audiences across the top 75 cities of India, which will also require a change to the type of content being produced for these audiences, and which could even see regional OTT products releasing in a windowed manner.
Company Performance:
On Standalone basis our total revenue for the year 2022-23 was INR 2,988.06 lakhs as compared to INR 1,313.55 lakhs in the previous year i.e. 2021-22 which represents the growth of 127.47% and our profit after tax was INR 517.76 lakhs as compared to INR 97.71 lakhs in the previous year.
On Consolidated basis our total revenue for the year 2022-23 was INR 4,596.82 lakhs as compared to INR 2,030.43 lakhs in the previous year i.e. 2021-22 which represents the growth of 126.39% and our profit after tax was INR 674.30 lakhs as compared to INR 131.28 lakhs in the previous year.
Total expenses of the Company stood at INR 2282.98 lakhs as compared to INR 1191.07 lakhs in the previous financial year on a standalone basis and on the consolidated level the total expenses stood at INR 3677.44 lakhs as compared to INR 1861.30 lakhs in the previous year.
Cautionary Statement :
Certain Statements in the Management Discussion and Analysis describing the companys objectives, projections, estimates and expectation or predictions may be forward looking statements within the meaning of applicable laws and regulations .It cannot be guaranteed that these assumptions and expectations are accurate or will be realized. Actual results could differ from those expressed or implied. Important factors that could make a difference to the Companys Operations include economic conditions affecting demand/supply and price conditions in the domestic markets changes in Government Regulations, Tax Laws and Other statues and incidental factors.
Reference: Windows of Opportunity, Indias media and entertainment sector –maximizing across segments April 2023 (Report by EY & FICCI)
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