Indian Media & Entertainment Sector on Track for Trillion-Dollar Growth by 2027

The Indian media and entertainment (M&E) industry is poised for significant growth, with a 7% Compound Annual Growth Rate expected to bring the sector to Rs 3.07 trillion (USD 36.1 billion) by 2027, according to a new report from Ernst & Young (EY).

In 2024, the sector's value jumped by Rs 81 billion to a total of Rs 2.5 trillion (USD 29.4 billion) due to the rapid expansion of digital media and online gaming, which grew by 12% and now account for 41% of sector revenues. Conversely, traditional media, including television and print, saw a 3% revenue decline, impacting their market share.

The report highlights the potential of Artificial Intelligence (AI) to further transform the industry, with AI tools expected to enhance creative processes, content performance, and audience engagement, thereby potentially increasing revenues by 10% and reducing operational costs by 15%.

The industry supports 2.8 million direct jobs, with an additional 10 million indirect positions, mainly in events, music, and content production. Advertising remains a significant driver, contributing 0.38% to India's GDP. The surge in digital employment opportunities signifies the dynamic evolution of India's M&E sector.

(With inputs from agencies.)