The year 2015 was a seminal year in many ways for the Media and Entertainment (M&E) industry. A year that sparked excitement and renewed hope but at the same time a year in which reality came to roost. This was a year in which the global economy saw a big drop in commodity prices, with crude oil dropping from a high of near USD100 in October 2014 to below USD30 in January 2016. While this volatility rocked many economies around the world, it was a blessing for India. Lower commodity prices, lower inflation and lower borrowing costs are likely to drive consumerism in the country – benefitting the media industry.
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