FICCI EV report

&E Sector crosses INR 2.5 trillion in 2024, advertising revenues surge by 8.1%: FICCI- EY Report Digital media grew by 17% to reach INR802 billion and became the largest segment in 2024, overtaking television, which was the largest segment for 20 years Organized live events grew 15% crossing the INR100 billion mark for the first time Subscription revenues fell by 2% in 2024 with television, print, filmed entertainment and online gaming all seeing their subscription revenues fall The Indian M&E sector is expected to grow by 7.2% in 2025, reaching INR2.7 trillion, and then expand at a CAGR of 7% to reach INR3.1 trillion by 2027 Mumbai, 27 March 2025: The latest FICCI-EY report titled, “Shape the future: Indian media and entertainment is scripting a new story” has revealed a remarkable milestone for the Indian Media and Entertainment (M&E) sector in 2024, which has reached a total value of INR2.5 trillion (US$29.4 billion). This represents a growth of INR 81 billion from the previous year, marking a 3.3% increase. Growth slowed down from 8.3% in 2023, due to falling subscription revenues, and a global decline in Animation and VFX work outsourced to India. The sector contributed 0.73% to India's GDP in 2024. As per the FICCI – EY report, digital media in India has overtaken television to become the largest segment within the M&E sector, contributing an unprecedented 32% to the overall revenues. The Indian M&E sector's advertising revenues have seen an impressive growth of 8.1%, predominantly led by performance advertising on digital platforms, including e-commerce websites, and a surge in demand for premium and digital Out-of-Home (OOH) media. This growth has been further bolstered by the resilience of print and radio retail advertising revenues. Digital media (17%), live events (15%), and OOH media (10%) have been key drivers of growth. Mr Ashish Shelar, Minister of Information Technology & Cultural Affairs, Government of Maharashtra said, “I compliment FICCI for the voluminous Media and Entertainment report. My department and my government will take the lead to see the best suggestions from this report and implement as a part of the upcoming 100 days program of the Cultural Affairs Ministry of Govt of Maharashtra.” Mr Kevin Vaz, Chairman, FICCI, Media and Entertainment Committee asserted, “The Indian media and entertainment industry is at a defining moment, driven by rapid digital adoption and evolving consumer preferences. This transformation is unlocking immense opportunities for content creators, advertisers, and technology innovators across all segments of the M&E ecosystem. With India’s media and entertainment market expected to surpass INR 3trillion by 2027, the future is brimming with untapped potential. FICCI remains committed to fostering collaboration and innovation to ensure that India’s M&E sector continues to thrive as a global powerhouse.” Mr Ashish Pherwani, Media & Entertainment Leader and Partner, EY India said, "The digital revolution has not only transformed how content is created and consumed but has also redefined the very essence of the M&E industry. From immersive storytelling and interactive experiences to innovative business models and strategic alliances, the landscape is continually reshaping itself. As digital media overtakes traditional mediums, we are witnessing a paradigm shift, where the value delivered across information, escapism, materialism, and self-actualization becomes the new benchmark for success.”