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India’s Media and Entertainment sector posted robust growth in 2024, expanding by Rs 81 billion to reach Rs 2.5 trillion (USD 29.4 billion). This marks a significant milestone, with the sector now contributing 0.73% to India’s GDP, according to an EY report. The report projects that the M&E industry will grow at an annual rate exceeding 7% until 2027, when it is expected to touch Rs 3.07 trillion (USD 36.1 billion), outpacing India’s overall economic growth.
A major driver of this expansion is new media, which includes digital media and online gaming. This segment grew by 12% (Rs 113 billion) in 2024 and now constitutes 41% of the M&E sector's revenues. Digital media, in particular, has overtaken television for the first time, becoming the largest segment with Rs 802 billion (USD 9.4 billion) in revenues, 32% of the sector’s total, according to the report.
India's digital ecosystem rises to global scale
India’s digital entertainment ecosystem is now among the world’s largest and fastest growing. It is propelled by the rapid adoption of smartphones, connected TVs, and affordable data. As of December 2024, India had 562 million active smartphones, 50 million connected TVs, and 945 million broadband connections—899 million of them wireless.
Paid digital subscriptions have also grown sharply, with 132 million video, 10.5 million audio, and 3 million news subscribers. By 2030, India is expected to have 910 million screens, with mobile phones continuing to dominate with more than three phone screens for every television screen.
Digital media to reach Rs 1104 bn by 202
Looking ahead, digital media is projected to lead sectoral growth, contributing more than half of the total expansion through 2027. By then, it is expected to reach Rs 1,104 billion (USD 13 billion). The growth is strongly linked to ongoing increases in smartphone usage, connected TVs, and high-speed internet penetration, aided by extremely affordable data packs, some priced as low as USD 3 per month for daily 1GB data access.
The advertising sector also saw a record-breaking year in 2024, reaching Rs 1.28 trillion (USD 15 billion). For the second year in a row, digital advertising outpaced traditional media, accounting for 56% of total ad spend. Until 2027, total advertising is expected to grow at an 8% CAGR, with digital ads projected to grow at 11%, compared to 3% for traditional formats. Advertising currently contributes just 0.38% to India’s GDP, indicating a sizable runway for future growth as incomes rise and the working population expands.
Overall, India’s M&E sector is rapidly evolving into a digitally driven ecosystem, with mobile-first consumption, innovative content strategies, and expanding digital infrastructure positioning it as one of the most dynamic markets in the world.
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