India's Media, Entertainment Industry To Be Fastest Growing Globally; Hit Rs. 4 Lakh Crore By 2025

As per a report published by PWC on the global entertainment & media outlook, the media and entertainment (ME) sector in India is expected to be the fastest growing worldwide in terms of both advertising and consumer spends. The media and entertainment (ME) sector in India is projected to exceed Rs. 4 lakh crore (US$ 53.64 billion) by 2025 and estimated to grow at a CAGR of 10.75% in the next four years (until 2025).

The consultancy's partner, Mr. Rajib Basu said, “Amid the pandemic, the entertainment and media sector in India registered significant resilience. The market is expected be the fastest-growing entertainment and media market worldwide both in terms of advertising and consumer revenue.

He stated that technological advancement and expanding of internet access would attract consumers towards content. The rising demand for localised content is expected to result in newer business models.

In 2020, television advertising increased to Rs. 35,015 crore (US$ 4.70 billion) amid the pandemic and expected to further grow at 7.6% to add over Rs. 50,000 crore (US$ 6.71 billion) to the overall market.

Between 2020 and 2025, advertising on the internet is projected to grow at a CAGR of 18.8% to reach over Rs. 30,000 crore (US$ 4.02 billion) by 2025.

The report added that in India, mobile internet advertising revenue stood at Rs. 7,331 crore (US$ 983.12 million) in 2020 and projected to reach Rs. 22,350 crore (US$ 3.0 billion) by 2025, registering a 25.4% growth.

The box-office revenue is projected to pick up and grow at a CAGR of 39.3% to reach Rs. 13,857 crore (US$ 1.86 billion) by 2025.

PwC added that the cinema industry is projected to grow and recover to its pre-pandemic levels by mid-2023.

As per the report, in 2020, the total music, radio and podcasts market revenues in India stood at Rs. 4,626 crore (US$ 620.37 billion). The market is expected to grow 19.1% per annum to reach Rs. 11,026 crore (US$ 1.48 billion) by 2025.

It stated, in 2020, video games and e-sports revenue in India stood at Rs. 11,250 crore (US$ 1.51 billion) and projected to grow at a CAGR of 16.5% to reach Rs. 24,213 crore (US$ 3.25 billion) by 2025.