Indian Entertainment and Media Industry Projected to Reach ₹3,65,000 Crore by 2028

Mumbai, India: The Indian entertainment and media industry has defied all odds to flourish despite the challenges posed by the COVID-19 pandemic. According to a recent study, the compound annual growth rate (CAGR) of the Indian Entertainment and Media is projected to reach ₹3,65,000 crore by 2028, which is significantly outpacing the global average of 4.6%.

The Indian entertainment and media industry has been witnessing rapid growth in recent years, driven by several key factors such as digital advertising, OTT platforms, online gaming, and advancements in AI technology. The projected CAGR for Digital Advertising is expected to be an impressive 15.6%, which is ₹85,000 crore by 2028. India is expected to taste the highest growth rate among top 15 global markets.

The online gaming industry has also been witnessing significant growth, with a projected CAGR of 19.2%, reaching ₹39,583 crore by 2028. On the other hand, OTT platforms are expected to have a projected CAGR of 14.9%, which is ₹35,061 crore by 2028.

The OOH Advertising has seen a current growth rate of 12.9% and is expected to rise further to 7.6% in the future, while traditional print advertising will witness a projected CAGR of 3%. However, it's worth noting that India is projected to become the third-largest print market by 2028.

The cinema market has also been witnessing rapid growth, with a projected CAGR of 14.1%, demonstrating its resilience and demand for entertainment content.

As broadband subscriptions are expected to reach 80 crore and internet users are estimated to be around 78 crore by 2028, the online gaming industry will continue to thrive. Moreover, smartphone users in India are projected to grow to 55 crore by 2028.

The Indian media and entertainment landscape is indeed witnessing a transformation, driven by technological advancements and shifting consumer behavior. With several growth drivers propelling it forward, the Indian Entertainment and Media industry is poised to reach extraordinary heights, surpassing all expectations.