Indian Entertainment Industry Analysis: Past, Present and Future

Abstract

The entertainment industry is a component of the tertiary sector of the economy that includes the performing arts. When new technologies and concepts arise, the entire corporate world transforms. The industry is thriving financially and in terms of the talented artists and programmers it employs. Increased globalization and the subsequent elimination of market constraints resulted in astronomical growth. This research explores the origins, current conditions, hazards, potential solutions, future trends, and potential effects of foreign direct investment in India’s entertainment business. This research investigates the effects of globalization and its potential to provide new job possibilities. The data shown here has been gathered from secondary sources (the internet and published articles). The first form of entertainment was the transmission of cultural norms and beliefs from one generation to the next via the telling of stories. Since the arrival of the television triggered a seismic upheaval in the industry, distribution methods for entertainment have evolved gradually. While the epidemic has disproportionately affected certain areas of the industry’s workforce, others have been able to prosper because of the relative anonymity and safety of online venues. Television remains the most frequently consumed form of media, despite the advent of digital media and online gaming as more popular entertainment than film. As video streaming and other forms of online entertainment become popular, the OTT platform is anticipated to experience parabolic growth in the coming years. Due to the absence of references, the lack of emphasis on essential concerns, and the overall obsolescence of the accessible material, it was difficult to locate pertinent information. To support the nascent Indian entertainment industry and ensure the safety and stability of all its stakeholders, especially in challenging times like the ongoing pandemic, this paper highlights the significance of the government and regulatory bodies actively considering implementing incentive measures.