An award ceremony was held in New Delhi on March 8, 2024. It was for the first time that the National Creator Award was presented at the event. The award is given to those who have contributed to digital medium on topics such as story tailing, social change, advocacy, environmental balance, education, sports, technology etc. in various domains.
Ranveer Allahabadia received honour from the Prime Minister under the title ‘Disruptor of the Year’. He is basically a podcaster. After receiving the award, he told Modi- ‘I feel like podcasting with you sir. Modi also responded positively by agreeing to his wish and saying that everyone has such a wish in their minds.
The spread and spread of digital media among the people is at such a rapid pace that it will surpass the mainstream media in 2024 itself. That possibility is very bright. Because in 2024, digital media overtook the media and entertainment sector.
According to a report released by the Federation of Indian Chambers of Commerce and Industry (FICCI), the digital media market will be worth Rs 75,100 crore by the end of 2024. Media and Entertainment In short M&E had a growth rate of 8.1 per cent in 2023. If it grows at this rate, its market size will increase from Rs 2 lakh 5 crore to Rs 3 lakh crore in the last two years.
Electronic media is one of the major stakeholders in the media and entertainment sector. Its market size was Rs 69,600 crore in 2023. In 2022, the market was rs 70,900 crore. That is, its growth declined by 1.8 per cent in 2023.
Electronic media is one of the major stakeholders in the media and entertainment sector. Its market size was Rs 69,600 crore in 2023. In 2022, the market was rs 70,900 crore. That is, its growth declined by 1.8 per cent in 2023.
The market size of digital media in 2023 was 65,400 crores and touched Rs 75,100 crore in 2024, the report said. According to another report, the market size of digital media will cross Rs 95,500 crore in 2026.
Its compound annual growth rate (CAGR) will be 13.5 per cent in 2023-26. In 2026, the growth rate of digital media will be 20 per cent higher than that of TV media, the report said.
Thus a huge market for digital media has come up. Its scope is growing so fast that the government is forced to give importance to it. While the media and entertainment sector is projected to have a growth rate of 10 per cent by 2026. The growth rate of digital media was three times higher at that time. The potential Rs 3 lakh crore market will have around Rs 1 lakh crore of digital media.
These may be the reasons why the government has been forced to give importance to digital media. The impact and reaction will be noticeable what happens in the context of Assam. The fact is that digital media has now become a strong market owner.