Synergistic
Market Insights at a Glance
Key metrics driving the Indian M&E industry transformation
Market Growth Projection (2024-2030)
Projected to reach $48B USD by 2030 with a steady 9.8% CAGR
Future Prospects
The future of Indian Media and Entertainment Industry is very promising. The industry is expected to grow at a much faster rate than the global average growth rate.
Indian media and entertainment sector to reach $25.2bn in 2022 and cross $50 Billion by 2030
INDIAN MEDIA & ENTERTAINMENT: The Global Entertainer
The Indian media and entertainment (M&E) industry is projected to grow significantly, with a projected Compound Annual Growth Rate (CAGR) of about 9.8%. it could reach around USD 48 billion by 2030 from approximately USD 30 billion in 2024.
There is tremendous growth in the Indian Media and Entertainment Industry. With the rising consumer demand and improving advertising revenues, the Indian M&E (Media & Entertainment) is on the cusp of a strong phase of growth. The Indian Industry is driven by increasing digitization and higher internet usage over the last decade. The Internet has become a major source of entertainment for a majority of people.
The Indian media & entertainment industry is one of the fastest growing and the most visible in the world. The Indian Advertising Industry is considered to be the second-fastest-growing advertising market in Asia, after China. India has the talent and creative skill pool required in the industry.
India is among the largest content producers in the world and is fast becoming the content back office of the world. India produced 150,000 hours of TV content, 2,500 hours of premium OTT content and 2,000 hours of filmed content in 2021, backed by over 950 animation and VFX studios, 185,000 electronic artists and 139 universities.
Digital Transformation
India has always been a different kind of media and entertainment market, up on top with the rest on technology and ahead of the pack when it comes to digital adoption.
This is because the country is going through rapid digitalization leading to growth in the market. This digital infrastructure is supported by about 1,200 million telephone subscribers including more than 666 million subscribers from the urban and over 533 million subscribers from the rural regions, as per the Telecom Regulatory Authority of India (TRAI) by the end of August 2024. Additionally, the deployment of 5G has picked up, surpassing more than 130 million users by the end of 2023, and 5G users are likely to reach 575 million by 2026,
Key growth drivers include rapid digitalization, widespread internet and 5G penetration, and increasing demand for digital content, especially over-the-top (OTT) platforms. While digital media is expanding rapidly, traditional segments like television and cinema are also experiencing growth, supported by a young consumer base and increased investment in original and regional content.
Industry Segment Distribution
Digital Media leads with 45% market share, followed by Television at 25%
Market Growth Projections
Key drivers include a surge in digital media consumption, online gaming, and animation/VFX sectors. Digital media has become the largest segment, overtaking traditional television.
Key growth projections:
Overall industry growth: Expected to grow at a CAGR of 7% to 8.3% to reach approximately ₹3.1 to ₹3.65 trillion by 2027-2028, notes EY and PwC.
Digital media: Expected to continue leading the market, driven by high internet penetration, affordable data, and a growing appetite for regional and original content.
Online gaming: Projected to reach US$7 billion by FY25, supported by a young population, increased smartphone use, and better connectivity.
Animation and VFX: Anticipated to grow from US$1.3 billion in FY23 to US$2.2 billion by FY26.
Live events: The organized live events sector is also showing strong growth, crossing the ₹100 billion mark for the first time in 2024, reports EY.
Young population: India's large young demographic is a key consumer base for online entertainment, particularly gaming. India has large broadcasting and distributing industry, comprising of approximately 900 satellite TV channels, 6000 multi-system operators, around 60,000 local cable operators, 7 DTH operators and a few IPTV service operators.
The Indian Digital Advertising Industry is expected to grow at a CAGR of 32 per cent backed by affordable data and rising smartphone penetration. India is a leading market for media, content and technology agency.