.jpg)
India’s media and entertainment (M&E) sector is projected to grow at a compound annual growth rate (CAGR) of 7% until 2027, reaching Rs 3,07,000 crore (US$36.1 billion), according to the “A Studio Called India” report jointly released by the Ministry of Information and Broadcasting and Ernst & Young (EY) during the first edition of the WAVES Summit.
This growth rate is expected to outpace India’s GDP, reaffirming the sector’s strategic significance and global relevance. Major international players such as Google, Meta, Netflix, Prime Video, Lionsgate, Disney, and Warner Bros. Discovery already have a strong presence in India, underscoring the country’s expanding footprint in global entertainment.
The report noted that India is now one of the leading global hubs for content creation, thanks to its expanding digital infrastructure, rich cultural diversity, cost-effective production ecosystem, growing creative talent pool, rapid tech adoption, and supportive government policies.
It highlighted that the M&E sector grew by Rs 8,100 crore in 2024 to reach Rs 2,50,000 crore (US$29.4 billion), contributing 0.73% to India’s GDP. New media—including digital media and online gaming—accounted for 41% of total revenues, overtaking traditional formats.
In 2024, digital media surpassed television to become the largest M&E segment in India, contributing Rs 80,200 crore(US$9.4 billion), or 32% of sector revenues and 55% of total ad spend. This shift was driven by a mobile-first consumer base, widespread internet penetration, and affordable data plans—many offering over 1 GB per day for as little as US$3.
India had 945 million broadband connections by December 2024, with 46 million wired and the remainder wireless, the report said, adding that the country also had 132 million paid video subscribers, along with 10.5 million paid audio and three million paid news subscribers.
“With 562 million active smartphones and 50 million connected TVs, India’s digital consumption is skyrocketing—especially when compared to 160 million traditional TV homes. This mobile-first dominance is expected to continue, with the number of screens in India projected to reach 910 million by 2030. For every television screen, there will be 3.25 mobile screens,” it said.
The digital segment is expected to contribute 53% of the M&E sector’s absolute growth through 2027, reaching Rs 1,10,400 crore (US$13 billion).
While digital and online gaming surged, traditional media—comprising television, print, radio, and music—saw a combined revenue decline of 3% or Rs 3,000 crore in 2024, reducing their share of the overall M&E market to 41%.
In contrast, out-of-home categories such as filmed entertainment, live events, and outdoor media grew at a steady pace of 3%, now contributing 14% to the sector.
Advertising remains a key opportunity, contributing just 0.38% to India’s GDP—suggesting ample room for expansion. The sector in 2024 was already 30% above its pre-pandemic high of 2019, highlighting strong recovery and resilience.
Global platforms like Netflix, Amazon Prime Video, and Disney+ Hotstar continue to invest in Indian originals, producing internationally acclaimed content such as Sacred Games and The Family Man. Tech giants including Google, Meta, Amazon, and Microsoft have established development centers in India, using the country’s massive mobile user base to test new products—such as Netflix’s mobile-only subscription plan, first piloted in India before a global rollout
.jpg)
.jpg)
.jpg)
