Indian Media and entertainment sector – Market for AWS
Amazon Web Services (AWS), a global leader in cloud computing, sees India’s media and entertainment sector as a significant market for investment even if the Indian government has set a growth target for the sector of over USD 100 billion by 2030.
“Among all industries, India’s M&E sector is one of the fastest growing. Although cloud adoption is accelerating across all industries, it is particularly pronounced in the M&E industry. There is currently no market like India, and there is enormous space for expansion thanks to the growth of the film, OTT, and media industries. Recently, NDTV and we teamed. Puneet Chandok, President of Commercial Business, AWS India and South Asia at Amazon Internet Services Private Limited, stated that we just have a runway in India (AISPL).
The first Over-the-Top (OTT) service to launch on the AWS Cloud in India is SonyLIV. Kaun Banega Crorepati (KBC) is an interactive game show that SonyLIV introduced to let fans respond in real time to show questions using their mobile devices. Similar to Hotstar, which leverages the AWS infrastructure and has more than 80 million downloads worldwide, Hotstar is India’s largest premium streaming service.
With five mission-critical industry solution areas in mind—Content Production, Media Supply Chain and Archive, Broadcast, Direct-to-Consumer and Streaming, and Data Science and Analytics—AWS offers the most specifically designed capabilities for media and entertainment of any cloud. By making it simple to choose the best partners and tools for their workloads, AWS helps content makers, rights holders, producers, broadcasters, and distributors build, deploy, and reinvent workloads across each domain, accelerating production launches and reducing time to market.
“AWS also gives media and entertainment companies access to the appropriate cloud services, enabling them to adapt in response to rising customer expectations. One of the main benefits of cloud computing is that it has democratised access to cutting-edge technology, enabling media organisations of all sizes, including conventional broadcasters, to quickly innovate.
“Today, cloud-based solutions are available that can be scaled to the size of a business’ operations, enabling enterprises to innovate at a cheap cost. AWS also enables OTT platforms to develop and sell solutions more quickly than in the past, allowing for cheaper turnaround times for content and goods. With access, these platforms enable more frequent commissioning and decommissioning of experiments and projects.
At the FICCI Frames Fast Track 2022 conference held in September, Union Secretary for Information and Broadcasting Apurva Chandra stated that the media and entertainment sector should set an objective of expanding to more than $100 billion by the year 2030. He had stated that the Ministry of Information and Broadcasting would go to all lengths to aid the M&E sector’s development.
According to a joint report by the Confederation of Indian Business (CII) and Boston Consulting Group (BCG), the India Media & Entertainment industry will be worth between USD 2729 billion and USD 5565 billion by 2030.