Indian M&E sector to touch Rs 3 trillion in 2025: FICCI-EY Report

FICCI-EY report titled ‘Windows of opportunity - India’s media & entertainment sector maximizing across segments’ was launched on Day 1 of the FICCI FRAMES 2023. Sharing salient outcomes of the report, Ashish Pherwani, Partner - Media & Entertainment, EY India, stated, “The Indian M&E consumer base is large, but heterogenous, hungry for content but willing to pay only for value, and more than ready to experiment with technology, be it streaming, digital payments, online education, virtual experiences, e-commerce, social media, or gaming. The diverse consumer base, coupled with favorable macroeconomic and demographic factors, have translated into a very exciting time for the sector.”

Highlights of the FICCI-EY Report:

• Indian M&E sector grew 20% in 2022, touching the highest ever mark of Rs 2 trillion
• It is expected to grow a further Rs 734 billion to reach Rs 2.83 trillion in 2025
• Advertising grew 19% and crossed Rs 1 trillion (Rs 1 lakh crore) for the first time
• Digital media grew by Rs 132 billion to reach Rs 571 billion, and now comprises 27% of the Indian M&E sector and 48% of all advertising revenues
• Except for TV subscription, all M&E segments grew in 2022