Revenue of India’s media and entertainment sector crosses Rs 2.5 lakh crore in 2024: FICCI-Ey Report


New Delhi:

India’s media and entertainment (M&E) reached the revenue of Rs 2.5 lakh crore (2.5 trillion) in Sector 2024. This is a lead of 3.3% as compared to last year. However, during this period, there were challenges such as decline in subscription revenue and lethargy in VFX outsourcing. According to the FICCI-Ey report, this sector’s contribution to India’s GDP was 0.73%.

Digital media defeated TV for the first time

According to the report, the digital media first overtakes TV and became the largest part of India’s M&E sector. Digital media contributed 32% to the total revenue and touched a mark of Rs 802 billion with a growth of 17%. It is clear that people in India are fast shifting towards digital platforms and their choice is changing.

Advertising Revenue gained 8.1%

In 2024, the Advertising Revenue of the Indian M&E sector recorded an increase of 8.1%. The growth came from digital platforms and increasing performance advertising on digital platforms and e-commerce sites, the demand for digital out-of-hom (OOH) media and the stable of print and radio advertising.

Fastest growing sector

In 2024, digital media was the fastest growing segment in the Indian media and entertainment industry. It recorded a growth of 17%, making it the largest segment in the industry. The growing popularity of digital platforms and increasing demand for ads strengthened this growth. The live event also increased rapidly, with a growth of 15%. The first time the revenue of live events reached beyond Rs 100 billion.

At the same time, there was a tremendous bounce in OOH (out-of-Home media), which recorded a growth of 10%. Especially Digital Ooh achieved 78% growth.

What is the opinion of government and industry leaders?

Ashwini Shelar, Minister of Information Technology and Cultural Affairs of the Government of Maharashtra, said, “We will try to implement them in our next 100 days program with great suggestions from this report.”

Kevin Vaz, Chairman of FICCI’s Media and Entertainment Committee, said, “India is expecting India to cross the 3 trillion rupees by Sector 2027. This sector will strengthen its identity in the world.”

Ashish Pherwani (Ashish Pherwani), media and entertainment leader of Ey India, said, “There is a big change in the industry with the rapid growth of digital media. Now the importance of content is not limited to entertainment, but it is also becoming a part of people’s identity and needs.”

Indian M&E sector 2025 expected to access 2.7 trillion rupees

According to the FICCI-Ey report, the Indian M&E can reach 2.7 trillion ($ 31.6 billion) with a growth of 7.2% in Sector 2025. By 2027 it can touch the figure of Rs 3.1 trillion ($ 36.1 billion). At the same time, digital advertising will be the first M&E segment to reach 1 trillion by 2026.

Which segment benefited

In 2024, some segments of the Indian media and entertainment industry performed brilliantly. Digital advertising touched a figure of Rs 700 billion with a growth of 17%, which is 55% of the total advertising revenue. Digital subscription also saw a rise of 15%, causing it to reach Rs 102 billion. The number of paid video subscribers increased to 111 million.

Live events also increased rapidly, it recorded a growth of 15% and for the first time its revenue crossed 100 billion rupees. The government and the government and international concerts led to a record increase in this segment. OOH (Out-off-Home) media recorded a growth of 10%, with digital Ooh media gained 78% and contributed 12% of the entire segment. At the same time, the radio industry reached Rs 25 billion with a growth of 9%, with 20% of revenue events and content production.

These segments suffered losses

Some segments faced challenges this year. Print advertising led to a slight increase of 1%, but the subscription revenue declined by 1%. The music industry saw a decline of 2%, although its paid subscribers increased from 7 million to 10.5 million. The online gaming sector faced a decline of 2%, due to the effect of 28% GST and illegal foreign sites. The film industry also recorded a 5% decline, due to lack of blockbuster films and the declining value of OTT/Satellite Rights.

The situation in the television sector was also weak, in which advertising revenue 6% and subscription revenue fell 3%, as people are shifting to free TV and connected TV. Animation and VFX industry faced a 9% decline, due to decrease in global production and decline in broadcast advertising revenue.


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