Impact of Covid 19 on the Media Industry

Sejal Jain.

The Indian media and entertainment industry was expected to reach around Rs 307,000 core crore (US$ 43.93 billion) by 2024.
It was growing at a rate of 13.3%. This was made possible by increasing demand of good content, affordable prices of Television, mobile phones, good quality visual effects and good music which caused the Indian Entertainment Industry to grow many fold.

But as an impact of the Covid 19, The industry which employs over 60 million people has come to a standstill and because of it out of 60 million staff, 10 million have been directly impacted, and their livelihood is at risk. Losses reported for the first two months are over Rs 3,000 crore.
Ninong Ering urged Delhi CM Kejriwal to protect the Northeastern student
There were a cluster of people mostly youth who were slowly shifting to other Entertainment platforms like Netflix, Amazon Prime and Hotstar because of the additional convenience like No censorship, good content and movies/series from all over the world are available on them. The shift before the pandemic began was slowly but after the lock down began, these platforms reported a spike in its paid subscribers.
Netflix reaches almost 16 million subscribers in the first three months amid the coronavirus pandemic which has forced people to stay at home.
The report also stated that Netflix has predicted a further increase of 7 million paid subscribers in the period of the pandemic which may go on till June.
It can be rightly said in this situation that “Binge watching has become the new normal.”