Media & Entertainment industry is going through an exciting phase. We are seeingdiscontinuous changes in all aspects of entertainment and for the consumer freedom ofchoice enhanced connectivity and multiple screens have given new dimensions to overallentertainment consumption. The attention spans of the consumers have shortened and theconventional boundaries of content creation have been breached. In this competitiveenvironment the need for innovation and creativity is certainly at its peak. In ourjourney of delivering extraordinary entertainment content across platforms our Companyhas been at the forefront of driving change and setting trends for the industry and we aregearing-up for success in this evolving landscape. Our strong and consistent operating andfinancial performance give us room to invest in future growth opportunities.
India continues to be the fastest growing economy despite the volatile conditions.While the impact of structural reforms will take the required time to settle a few issuesin select sectors of the economy are affecting the growth in the short term. That saidwith the new government at the centre backed by a strong mandate and positive outlookthere is an expectation that the implementation of the steps needed to rectify theseissues will lead to a quick reversion to the earlier growth trajectory.
Content consumption continued to showcase an accelerated growth irrespective of themomentary slow-down in macro-economic growth.
India's spends on entertainment are insignificant compared to the overall size of theeconomy and the income levels which explains the limited impact on content consumptiongrowth despite the mentioned slow-down. Our per capita content consumption is stillcomparatively lower with a substantial room for growth. India's Media & Entertainmentindustry is growing at more than twice the global average driven by the long-termnarrative of the content growth story.
The Media & Entertainment industry has always been a dynamic one fueled by theinnovation and imagination of creative fraternity. However the pace of evolution hasaccelerated due to the changes in technology which have diminished boundaries for creatorsand democratized access to content. This has given a huge boost to both content creationand consumers' access to content. While video has always been the dominant medium forentertainment thanks to technology it is finding new use cases and taking share fromother media. The consumers are now exposed to a surfeit of video content across newformats which is driving strong consumption growth and leaving them yearning for more.This growth in demand and content creation has set in motion a virtuous cycle.
Content consumption experience has been another key driver for the overall exponentialgrowth. Series of technological developments and innovations have made it easy forconsumers to access content while also enabling interactivity and personalization. Theviewers are no longer restricted to consume content within the confines of time and place.They are empowered with multiple options from around the world at a device place andtime of their choice. This has given content discovery' a whole new meaning pavingway for multiple solutions to emerge which are making it further easier for consumers toaccess relevant and customized content. The immersive content viewing experience enablesthe viewers to not just view but to also interact and share enhancing the overallengagement levels. Technology is not only enabling a personalized experience but is alsomaking it possible to serve customized content to smaller audience segments.
As this evolution continues we will not only be limited to creating content for massaudience but it will be imperative for us to give a personalized entertainment experienceto the viewers.
In the evolving media landscape along with the changing relationship between theviewers content creators and distributors we are also seeing a set of new playersemerge. While the existing players will cede some ground to the new entrants theexplosive growth in content consumption is providing enough growth opportunities for allplayers in the value chain. The incumbents are able to expand their addressable market bycreating new touch-points while the new players are thriving on niche or untappedopportunities. While content will remain fundamental to the proposition of entertainmenttechnology is playing a much more influential role.
As an industry we will have to be agile to adapt to changes develop new skills andaccelerate the pace of innovation to benefit from these new opportunities. Consolidationwill certainly follow this phase of hyper-growth. Constant innovation and incessantefforts to satisfy the consumers' needs will be critical for survival in this newlandscape.
Financial Year 2018-19 has been successful for our Company. Our strong operatingperformance is in line with the trend over last several years. The investments we madeover a period of time are showing results helping us grow ahead of the market. Ourdecision to strengthen our focus on regional television markets has yielded resultsreflected in our strong competitive position in each of the territories. Zee Keralam isour latest step in this direction which would help us consolidate our position. In a shorttime ZEE5 has been able to establish itself as one of the leading digital entertainmentplatforms in the country. It has learnt from the success of our television business andhas a really sharp focus on regional markets. ZEE5 will certainly be the vanguard of ourgrowth in the coming years. Our movie production and music publishing businesses aregetting strengthened every year. While Zee Studios continues to build on the success ofthe last two years Zee Music
Company is rapidly scaling-up its music library. The International Business is enteringa new phase of growth with the addition of ZEE5 to its portfolio. While ZEE5 will belaunched across the globe in coming months the broadcast business will continue to focuson increasing its reach. Zee Live is now expanding its footprint in the organised eventsspace and we expect it to become a strong player in this segment. Our strong operatingperformance is reflecting in our financials. 12% revenue CAGR and 16% EBITDA CAGR over thelast five years is a result of the careful execution of our strategy.
At ZEEL we have been always cognizant about our responsibilities towards the society.Our content revolves around stories from the varied social cultural and economic milieuof our great nation. These stories not only serve to entertain but also help our audiencesubliminally find inspiration to achieve the extraordinary build empathy for fellow humanbeings and bring about a positive change in the society. Extending our brand philosophyof Extraordinary Together' we launched the Dibba Lautao and Revive Odishacampaigns to encourage citizens across the country to contribute to relief efforts for thenatural calamity affected states of Kerala and Orissa. Our programming initiatives andon-ground activities are making a conscious effort to mitigate the impact of drought insome parts of Maharashtra. With Project Prerna and the Kisan Abhimaninitiative we are constantly working to bring small improvements in their lives of thefarming community. As a responsible organization driven by a rich value system we remaincommitted to bringing a positive change in the lives of our audience.
I am grateful to all our stakeholders for their constant support and the trust reposedin us. We are working to strengthen our value proposition and I hope that we will be ableto bank on your support in the future as well.