Media, Entertainment & Publication Sector in India

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Remember the excitement of the daily newspaper with a hot cup of tea? Or the family gatherings in the evening for the favourite television show? Now, contrast that with today, where news and entertainment are available at your fingertips, anytime, anywhere, thanks to the digital revolution. This journey from printed pages and radio waves to digital screens signifies not just technological advancement, but also the Media, Entertainment & Publication sector’s adaptability to the needs and preferences of its audience.

India, with its vast population and diverse tastes, offers a unique landscape for the MEP sector. Each region, each city, and each individual contributes to the rich tapestry of media consumption. For those in our bustling metros, digital platforms might be the norm, but in our tier-2 cities and beyond, the charm and relevance of traditional media still hold strong.

In this article, we will guide you through the amazing journey of the MEP sector.


The story of media in India started long ago, during the times of British rule. Imagine, back in 1780, India’s very first newspaper, the ‘Bengal Gazette’, was printed. This newspaper was just the beginning, setting the stage for many more publications that you see today.

Next, let’s talk about radio. Before big stations came into being, small radio clubs popped up in big cities like Mumbai and Kolkata. But the real change for you, as listeners, came in 1936 with ‘All India Radio’ (AIR). Owned by the government, AIR became the primary source for news and entertainment for people across India.

After independence, the 1960s and 1970s saw AIR spreading its wings. Then came the age of television with Doordarshan in 1959. At first, if you turned on your TV, you’d mostly see educational shows. But by the 1980s, things changed. More entertaining shows began to appear, catching the attention of families all over.

The big shift for you as viewers happened in the 1990s. The government allowed private companies to broadcast, bringing satellite television into homes. This meant no longer relying just on Doordarshan. Your TV started offering a mix of programmes, from daily soaps to reality shows and even shows from abroad. Newspapers, both in English and regional languages, also grew in number, offering you more reading choices.

The 2000s brought the age of the internet and smartphones. You began to see familiar newspapers and TV channels online. New platforms, like those that let you stream shows (called OTT platforms), became popular. You can now access varied content anytime, anywhere. And if you speak or prefer regional languages, the good news is that content in these languages started getting a lot of attention.

In short, the growth of media in India has been a journey. From the first newspaper to the digital apps you use today, the aim has always been to inform and entertain you. Over the years, as technology and tastes changed, the media has tried to keep up, bringing you the stories and shows you love.

List of Top 10 Media, Entertainment & Publication Stocks

S.No.Company NameMarket Cap (in Cr)
1.Sun TV Network Ltd₹ 26,080
2.Zee Entertainment Enterprises Ltd₹ 24,661
3.PVR Ltd₹ 17,370
4.Network18 Media & Investments Ltd₹ 8,160
5.TV18 Broadcast Ltd₹ 7,971
6.Saregama India Ltd₹ 6,706
7.DB Corp Ltd₹ 5,406
8.Tips Industries Ltd₹ 4,458
9.Navneet Education Ltd₹ 3,916
10.MPS Ltd₹ 2,965

1. Sun TV Network Ltd

Sun TV Network, headquartered in Chennai, is a pioneer in regional television broadcasting. Established in 1993, it now has over 32 channels in languages such as Tamil, Telugu, Kannada, and Malayalam. The company’s venture into film production under Sun Pictures has led to the creation of blockbuster movies like “Enthiran” and “Sarkar”. Moreover, they also own FM radio stations, Sun Direct (a DTH service), and even a film distribution arm.

2. Zee Entertainment Enterprises Ltd

Starting as the first Hindi-language satellite channel in 1992, Zee Entertainment now boasts over 45 channels across various genres and languages. This Mumbai-based company has expanded internationally with Zee TV available in 190 countries. Their digital footprint is notable with Zee5, a robust OTT platform that offers both shows and movies. They’ve also ventured into live events and theatre.

3. PVR Ltd

PVR stands as the largest and most premium film exhibitor in India, boasting 1708 screens spread across 115 cities in both India and Sri Lanka. Their properties sum up to 360 with an impressive seating capacity reaching 3.59 lakh seats. PVR’s journey of expansion includes noteworthy acquisitions like ‘Cinemax Cinemas’ in 2012, ‘DT Cinemas’ in 2016, and ‘SPI Cinemas’ in 2018. Furthermore, a significant merger with INOX Leisure Limited recently cemented its over 25-year legacy in transforming out-of-home entertainment in India.

4. Network18 Media & Investments Ltd

A subsidiary of Reliance Industries, Network18 began in 1993 and now includes a plethora of television channels, digital platforms, and publications. Its TV portfolio includes brands like CNBC-TV18, CNN-News18, and Colors. The company’s digital venture with Firstpost, Moneycontrol, and has seen a commendable audience reach. Additionally, its publication segment includes the renowned Forbes India magazine.

5. TV18 Broadcast Ltd

A segment of the Network18 Group, TV18 Broadcast operates over 56 channels, including news outlets like CNBC Awaaz and entertainment channels such as MTV India. This Mumbai-based company has partnerships with global networks, which allows them to bring international content to Indian audiences.

6. Saregama India Ltd

Initially known as The Gramophone Company of India, Saregama is one of the oldest music companies in the country. Based in Kolkata, it holds rights to over half of all the music ever recorded in India. Their product, Carvaan, a preloaded digital music player, witnessed immense popularity among older demographics. They’ve also ventured into film production with their label Yoodlee Films.

7. DB Corp Ltd

With its inception in 1958, DB Corp publishes the Hindi daily newspaper Dainik Bhaskar, the largest circulated daily in India. Headquartered in Bhopal, the company also publishes newspapers in Gujarati and Marathi. Their digital segment, with portals like, offers finance insights to a wide readership.

8. Tips Industries Ltd

A Mumbai-based company, Tips Industries has a significant footprint in the music and film production industry. Founded in 1975, they have rights to some memorable Bollywood soundtracks. The company’s foray into film production has seen successful films like “Race” and “Soldier”.

9. Navneet Education Ltd

Navneet Education, based in Mumbai, is a major player in the educational content domain. Since 1959, they’ve been producing academic content, supplementary books, and e-learning materials. They’ve also ventured into stationery production, making them a recognisable brand among students and educators.

10. MPS Ltd

Founded in 1970 and headquartered in Bengaluru, MPS Ltd focuses on end-to-end content production, typesetting, and publishing services. Their clientele includes global publishers and educational institutions. Their adaptability to digital publishing trends sets them apart in the content solutions sector.

Current Performance

In recent times, there’s been a clear tilt towards digital avenues. Reports suggest that between 2019 and 2022, OTT subscription revenue in India, the world’s most significant consumer market, experienced an annual growth of 30-80%. What’s more interesting is that this growth isn’t limited to the major cities; even the countryside is coming online at a rapid pace, thanks to more affordable smartphones and better internet access.

Now, if you turn your attention to television, a medium many consider traditional, it still holds its ground firmly, especially in the regional segments. Data from the Broadcast Audience Research Council (BARC) shows that while city residents are branching out to digital platforms, many in rural areas remain tuned into TV. Channels in languages such as Telugu, Bengali, and Marathi are even enjoying rising viewership.

The story in the print media is undergoing change. English and Hindi publications seem to have hit a plateau, but regional language newspapers and magazines are on the rise. This indicates your growing preference for local news and content, driven by increasing literacy rates.

When you think of radio, you might assume it’s fading, but that’s not entirely true. The introduction of private FM channels has seen more of you tuning in, especially during those traffic-heavy commute hours.

Let’s talk about the lifeblood of the media – advertising. The trends here are quite telling. Digital advertising is growing at a fast pace, clocking in at around 25% growth annually. On the other hand, television and print are moving at a steadier, more conservative pace. However, events like the Indian Premier League (IPL) or the general elections give television advertising a good boost, although temporarily.

As you navigate through the offerings of the MEP sector, you’re witnessing a mix of evolution and stability. As you explore the modern appeal of the digital domain, you can still appreciate the trustworthiness of traditional media. While there are undeniable changes in the industry’s landscape, the dedication to presenting high-quality content to the audience remains consistent.

Future Outlook

The future of the Media, Entertainment & Publication (MEP) sector in India is shaping up to be intriguing and full of potential. As you look deeper, several factors emerge that will define its trajectory in the coming years:

  1. Digital Transformation: India currently has over 1.2 billion internet users, a number that’s expected to grow exponentially. This digital surge means more audiences are transitioning online, consuming content via smartphones and smart devices. Content providers will need to optimise for these platforms, ensuring accessibility and a seamless user experience.
  2. Regional Content: One of the most significant trends is the increased consumption of regional content. Local languages are seeing a higher demand on various platforms, from OTT services to YouTube channels. This regional push is not limited to language alone; culturally relevant content that resonates with local sentiments will gain prominence.
  3. OTT Platforms and Monetisation: With platforms like Netflix, Amazon Prime, and Disney+ Hotstar gaining ground, there’s a noticeable shift from traditional TV to OTT. Subscription models are becoming the norm, but ad-supported models will also thrive. The challenge will be monetising content effectively while balancing user experience.
  4. Collaborations and Partnerships: As the world becomes more interconnected, collaborations between Indian media houses and international players will become frequent. This might take the form of co-produced content, distribution agreements, or even technological partnerships to enhance content delivery.
  5. Technological Innovations: Augmented Reality (AR) and Virtual Reality (VR) are no longer just buzzwords. They’re finding real applications in the entertainment sector, from interactive gaming experiences to immersive movie-watching. The next decade might see a marriage of content and technology like never before.
  6. Regulatory Changes: The MEP sector, particularly digital platforms, might witness more stringent regulations and policies. Ensuring a balance between creative freedom and regulatory compliance will be vital.
  7. Infrastructure Development: With the Indian government’s push for Digital India, infrastructure development, especially in rural areas, will help the MEP sector. Faster internet speeds, affordable data, and the rise of digital payment methods will make content more accessible to the masses.
  8. Sustainability and Social Responsibility: As with all sectors, the MEP industry will need to incorporate sustainable practices. Whether it’s in production, content delivery, or even the themes portrayed, aligning with global sustainability goals will become essential.

Advantages of Investing in the Media, Entertainment & Publication Sector

  1. Rising Consumption: One of the undeniable advantages of the MEP sector is the ever-increasing consumption of content. With the proliferation of smartphones, tablets, and internet connectivity reaching even the remotest corners of India, there is a steady and growing audience base. This rise in content consumption translates to higher revenue potential.
  2. Global Reach: Indian content, be it films, television serials, music, or digital content, is gaining immense popularity on global platforms. This not only opens avenues for cross-border collaborations but also paves the way for tapping into international markets, thus increasing revenue streams.
  3. Innovation and Adaptability: The MEP sector has consistently demonstrated its adaptability to technological advancements. Whether it’s the transition from radio to television, print to digital, or cinema to OTT platforms, this sector has embraced change, offering investors the assurance of growth even in shifting landscapes.
  4. Stable Revenue Streams: Besides the direct revenue from content consumers, the MEP sector benefits from advertising revenues. Brands across various industries earmark a significant portion of their marketing budgets for media and entertainment, ensuring a consistent inflow of funds.
  5. Potential for Mergers and Acquisitions: The evolving nature of the MEP sector creates opportunities for mergers and acquisitions. As technologies and trends change, there’s potential for consolidation, partnerships, and collaborations, allowing businesses to scale and expand their offerings.

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Frequently Asked Questions

1. Why are MEP stocks gaining popularity among investors?

Answer Field

With strong growth prospects and the global appeal of Indian content, the MEP sector offers promising returns.

2. Are traditional media stocks still a good investment?

Answer Field

While digital media is rising, traditional media, especially in regional markets, still holds significant influence. A balanced portfolio can be considered.

3. How is OTT impacting the MEP sector stocks?

Answer Field

OTT platforms are driving content consumption. Companies venturing into OTT or partnering with such platforms can expect potential growth.

4. Which company among the top 10 has the most diversified portfolio?

Answer Field

Network18 Media & Investments Ltd has a notably diversified portfolio, spanning multiple domains within the MEP sector.

5. How do global events impact the MEP sector in India?

Answer Field

Global events can influence content consumption patterns and advertising revenues, thus impacting the sector’s performance.

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