Indian Entertainment and Media Industry’s revenue: The revenue of the entertainment and media industry in the country is estimated to reach Rs 3,65,000 crore by 2028, which is a compound annual growth rate (CAGR) of 8.3 percent.
A report released on Monday said that the revenue of the Indian entertainment and media industry will surpass the global rate of 4.6 percent in four years.
According to a PwC India report, advertising revenue in this sector is expected to grow at a CAGR of 9.4 percent to reach Rs 1,58,000 crore by 2028, which is 1.4 times higher than the global average of 6.7 percent. Most of this growth will come from the digital front (Internet advertising).
Internet advertising in India is expected to grow at a CAGR of 15.6 percent to reach Rs 85,000 crore by 2028, the highest growth rate among the top 15 countries and 1.6 times the global average.
Revenue of online gaming and e-sports sector is also increasing
On the other hand, the online gaming and e-sports sector in the country is growing at a CAGR of 19.2 percent and is estimated to reach Rs 39,583 crore by 2028.
Revenue of OTT platform will also increase!
Meanwhile, the revenue of OTT platforms in the country is estimated to grow at a CAGR of 14.9 percent, the highest among the top 15 countries, to reach Rs 35,061 crore.
Manpreet Singh Ahuja, Chief Digital Officer and TMT Leader, PwC India, said, “As per our ‘Global Entertainment and Media Outlook 2024-2028’, key growth drivers such as digital advertising, OTT platforms, online gaming and generative AI will shape the future of the industry. “Giving.”
With India’s improved connectivity, rising advertising revenues and favorable government policies around foreign direct investment (FDI), the country is projected to see the highest growth rate in the next five years.
Indians spend 78 percent of their time on mobile
Currently, India has 80 crore broadband subscriptions, 55 crore smartphone users and 78 crore internet users. Indians are spending 78 percent of their time on mobile phone apps related to entertainment and media.
Improvements in infrastructure have supported huge growth in India’s out-of-home (OOH) advertising market, which is expected to grow by 12.9 percent in 2023. The report says that it is expected to grow at a CAGR of 7.6 percent.
Despite a global decline in print advertising revenues at a CAGR of -2.6 per cent, India’s market is expected to grow at 3 per cent, making it the world’s third largest print market by 2028. The report said that the cinema market continues to expand in the country, which is growing at the rate of 14.1 percent CAGR.
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