In 2024, digital media in India has overtaken traditional television, becoming the biggest segment in the media and entertainment industry. It now contributes 32% of the total industry revenue, marking a major shift in how people consume content.
According to the latest FICCI-EY report, digital media is on track to be the first segment in the industry to cross ₹1 trillion in advertising revenue by 2026. This growth is fueled by increasing digital adoption and changing consumer habits, making online platforms the preferred choice for entertainment and advertising.
India’s Media & Entertainment Sector Set for Strong Growth
India’s Media and Entertainment (M&E) sector has reached a total value of ₹2.5 lakh crore ($29.4 billion) in 2024, contributing 0.73% to the country’s GDP. The industry is expected to grow at a steady rate of over 7% in the next three years, crossing ₹3 lakh crore.
This growth is driven by increasing digital adoption, changing consumer habits, and a surge in content consumption across platforms. As the industry expands, it will continue to play a key role in India’s economic development.
India’s Media & Entertainment Industry on a Growth Path
India’s Media and Entertainment (M&E) sector is set to grow by 7.2% in 2025, reaching ₹2.7 lakh crore ($31.6 billion). By 2027, it is expected to expand at a 7% annual growth rate, touching ₹3.1 lakh crore ($36.1 billion).
This growth will be driven by new business models, strategic partnerships, and industry consolidation, according to the FICCI-EY report, Shape the Future: Indian Media & Entertainment is Scripting a New Story.
Slower Growth in 2024
In 2024, the industry grew by ₹8,100 crore from the previous year, marking a 3.3% increase. However, this was slower than the 8.3% growth seen in 2023, mainly due to a decline in subscription revenues and reduced outsourcing of Animation and VFX work to India.
Advertising Driving Growth
Despite challenges, advertising revenues grew by 8.1%, led by:
✅ Performance ads on digital platforms (like e-commerce websites)
✅ Premium & digital out-of-home (OOH) advertising
✅ Strong retail advertising in print & radio
Key growth sectors included:
📈 Digital media (17%)
🎟️ Live events (15%)
🖥️ OOH media (10%)
A Defining Moment for the Industry
Kevin Vaz, Chairman of FICCI’s M&E Committee, highlighted that rapid digital adoption and changing consumer habits are reshaping the industry. This transformation is creating new opportunities for content creators, advertisers, and tech innovators across the M&E ecosystem.
