The decline in Bollywood viewers increased due to Corona / Stream audiences
While Bollywood productions have declined due to the prevalence of corona in India, viewers are increasingly watching the works online and offline.
Theater News Base: The audience of streaming services in India will reach 600 million by 2024.
The annual report of the Federation of Indian Chambers of Commerce and Media shows that streaming services experienced the highest growth during the 2021 Corona epidemic in India.
The audience of streaming services increased from 450 million to 497 million in 2021 in 2020, and according to the report, this number will increase to 600 million by 2024. However, this data does not include the YouTube audience, which exceeds 500 million monthly active users.
Subscription share Video It was 54 billion rupees ($ 706 million).
With 720 billion rupees ($ 9.4 billion), India remains the largest entertainment market in India and is projected to increase to $ 10.8 billion by 2024. Television advertising experienced a 25 percent growth in 2021, exceeding the 22 percent decline in 2020, thus only 2 percent away from the 2019 level.
The number of Indian TV channels decreased from 911 to 906, while the number of paid channels increased by 21 while 26 of the free channels were shut down.
Despite the increase in movies produced compared to 2020, the number of movies released in 2021 decreased due to long periods of cinema holidays following the corona outbreak, and cinema revenues reached 93 billion rupees ($ 1.2 billion), which is very high. It is far from the level before Corona ($ 2.5 billion). Sales of this sector are projected to reach $ 2.7 billion by 2024.
A total of 757 films in various languages were released in Indian cinemas in 2021, most of them in South Hindi with 204 films. Bollywood screened 84 films in Hindi. Markets in southern India boomed faster due to less coronary restrictions, reaching 59% in 2019.
In terms of revenue, Hollywood movies account for 11 percent of cinema revenue.
The number of screens is 9423 screens, which is a decrease compared to 2020. In total, Corona closed 1,500 theaters.
India’s animation revenue was $ 83 billion ($ 1.08 billion) and music’s revenue was Rs 19 billion ($ 248 million) in 2021.