- विज्ञापन -
Mumbai: According to a report released on December 9 by PwC India, the revenue of the Indian entertainment and media industry is expected to hit Rs 365,000 crore by 2028, reflecting a compound annual growth rate (CAGR) of 8.3%, which surpasses the global growth rate of 4.6%.
The advertising segment is anticipated to grow at a CAGR of 9.4%, reaching Rs 158,000 crore by 2028, significantly higher than the global average of 6.7%. A major contributor to this growth will be digital advertising, projected to expand at a CAGR of 15.6% and reach Rs 85,000 crore by 2028, marking the highest growth rate among the top 15 countries and 1.6 times the global average.
Additionally, the online gaming and esports sector is expected to grow at an impressive CAGR of 19.2%, reaching Rs 39,583 crore by 2028. Revenues from OTT platforms are also set to rise significantly, with a projected CAGR of 14.9%, the highest among the top 15 countries, reaching Rs 35,061 crore.
Manpreet Singh Ahuja, Chief Digital Officer and TMT Leader at PwC India, noted that key growth drivers such as digital advertising, OTT platforms, online gaming, and Generative AI are shaping the industry’s future.
India’s growth is supported by improved connectivity, increasing advertising revenues, and favorable government policies regarding foreign direct investment (FDI). Currently, the country boasts 800 million broadband subscriptions, 550 million smartphone users, and 780 million internet users. Notably, Indians spend 78% of their time on mobile apps related to entertainment and media.
Infrastructure improvements have also bolstered the out-of-home (OOH) advertising market, which grew by 12.9% in 2023 and is expected to maintain a CAGR of 7.6%. In contrast to the global decline in print advertising, which is projected to decrease at a CAGR of -2.6%, India’s print market is expected to grow at 3%, making it the third largest globally by 2028. The cinema market is also on an upward trajectory, with a projected growth rate of 14.1% CAGR.
