This document analyzes the performance of the Media and Entertainment (M&E) industry in India from 2016 to 2020. It finds that the M&E industry reached 1.5 trillion INR in 2016 and is expected to surpass 2 trillion INR by 2020, growing at a CAGR of 11.6%. Television and digital media are the fastest growing segments. The document then examines Zee Entertainment Enterprises (ZEEL) and recommends that ZEEL focus on over-the-top platforms, invest in high quality content, and diversify its investments into areas like music and film production/rights.