Entertainment wrap: OTTs, digital space boost Media & Entertainment revenue to 1.67 trillion in 2018

The media and entertainment (M&E) industry could convincingly say "Apna time aayega" this year, thanks to its strong growth to reach a value of Rs 1,67,000 crore in 2018. This value could reach Rs 1,80,000 crore in 2019, according to a report which was released at the FICCI Frames 2019 in Mumbai.The various segments of the industry - films, television, over the top platforms (OTTs), radio, music, print, sports and advertisement - maintained a healthy rate of growth and performed as per expectations in the past year. The digital space in particular seems to have an explosion in growth on its cards.Panel discussions at the M&E convention spoke of how digital streaming will grow at a fast pace and are providing a bigger platform for talent and producers.  Subscriptions for OTTs are increasing as more people begin to see the advantages of choosing their own content. Online payment wallets help these streaming services with its robust bandwidth of payment gateways. Websites like Netflix and Amazon Prime Video are also partnering with telcos and e-commerce companies, so that the latter can keep their customers happy.