The south Indian media and amusement business grew 33% in 2022 to document revenues of $3.57 billion in 2022, a new report has exposed.
The report, titled South India: Location Benchmarks for the Country in Media & Entertainment, was organized by Team MCube Insights for the Confederation of Indian Marketplace (CII), southern area, and was unveiled all through the not too long ago-concluded Dakshin convention. It handles in detail the region’s essential sectors – movie, television, streaming/digital, radio and print – across the 4 language vectors of Tamil, Telugu, Kannada and Malayalam distribute throughout the states of Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala and union territory Puducherry.
Film led the way in 2022, growing by a whopping 96% from $486 million in pandemic-affected 2021 to $955 million in 2022. Tv grew 19% to record revenues of $155 million in 2022 streaming and electronic 20% to $366 million print 14% to $597 million and radio 24% to $102 million. All round, the M&E sector is projected to mature by 17% to achieve revenues of $4.1 billion in 2023.
India’s southern area accounts for 20% of the country’s over-all inhabitants of 1.4 billion, but contributes 31% of GDP. This increased contribution is reflected in the quantities across sectors in the report. For illustration, the report estimates all-India movie revenues of $1.8 billion in 2022, of which south India accounts for $955 million, or 52%.
The biggest element is the Tamil-language Tamil Nadu, which experienced all-time hits in the form of “Ponniyin Selvan: 1” and “Vikram,” with a sector size of $359 million. This is followed by the Telugu-language market, with a marketplace dimension of $305 million led by the Oscar-profitable blockbuster “RRR” the Kannada-language field with $191 million showcasing smash hits “K.G.F: Chapter 2” and “Kantara” and the Malayalam-language sector with $99.4 million led by “Bheeshma Parvam.”
Amongst the film revenue streams for the four languages combined, the largest chunk is from local theatrical revenues, which account for $346 million, followed by electronic/streaming rights with $224 million and satellite legal rights with $161 million. Tellingly, at a time when south Indian movies are increasingly releasing throughout the place, dubbing legal rights for Hindi and other north Indian languages account for a significant $135 million in revenues. Abroad theatrical and tunes rights account for the rest.
Nevertheless, the report strikes a observe of caution when it arrives to the profits forecast for 2023. Even though the Tamil, Telugu and Malayalam-language marketplaces are projected to mature by 15%, 5% and 11% respectively, the Kannada-language sector is envisioned to shrink 47% as probable blockbusters like “K.G.F: Chapter 2” or “Kantara” are not predicted this year. Thus a 1% over-all shrinkage in forecast for the movie industry is projected with revenues at $946 million in 2023.
The report documents the complete variety of cinema screens in India as 8,700, of which south India has 4,216 or 48%. Of these, 3,078 are solitary screens and 1,138 are in multiplexes.
In the streaming area, the report cites numbers from media analyst Ormax and states there is 36% penetration, which means that there is an audience of 105 million in south India, and this is projected to develop 18% in 2023. The forecast for streaming revenues is $487 million in 2023.
“As outlined in this report, South India’s M&E sector is poised for large advancement with four regional language movie industries environment new benchmarks for progress,” mentioned producer T.G. Thyagarajan who also serves as chair of the media and enjoyment activity power for the CII southern location.