The media business is full of large corporates.’ ‘Quality is going down.’ ‘All these foreign companies are now taking charge of Indian media.’u00a0At any media and entertainment industry (M&E) forum or in any mass media class these opinions always come up. In fact they are the most common questions I have heard over twelve years of covering the business. They are totally off the mark. Here is why.

Myth one — The media and entertainment business is full of big boys. The Indian media and entertainment business is a small, scrappy, fragmented industry that is not even on par with big Indian companies. At Rs 80,000 crore in size it is just a little bigger than Bharti Airtel. The entire Indian M&E industry is one-third the size of the world’s largest media company Comcast.