India’s media and leisure sector hit INR2.5 trillion ($29.4 billion) in 2024, based on the annual Federation of Indian Chambers of Commerce and Trade (FICCI)-EY report.

Titled ‘Form the Future: Indian Media and Leisure is Scripting a New Story,’ the report reveals that digital media overtook tv for the primary time, changing into the trade’s largest phase and accounting for 32% of whole income, ending a two-decade reign by TV.

Promoting revenues grew 8.1%, reaching an all-time excessive of $14.9 billion. Digital platforms led the cost, with advert spends on e-commerce, brief video, and social media driving digital promoting to $8.18 billion, now comprising 55% of the full advert market. Print and radio held floor with secure advert income, whereas digital Out-of-Residence promoting jumped 78%, contributing 12% of the OOH phase.

India’s filmed leisure sector launched 1,823 movies in 2024, a rise of 64 over the earlier 12 months. Round 500 titles premiered on streaming platforms, although solely 60 had been direct-to-digital releases. Roughly 200 movies had been dubbed variations, leaving over 1,600 as unique language productions. The nation’s display infrastructure expanded by 2%, reaching 9,927 screens — however India’s display density stays among the many lowest on the earth, particularly in comparison with China or the U.S. The dearth of infrastructure continues to constrain theatrical revenues, significantly in Tier III and IV markets the place potential audiences stay underserved.

Regardless of these challenges, the 12 months noticed South Indian movies – led by “Pushpa 2: The Rule” and “Kalki 2898 AD” proceed to dominate field workplace returns. A big share of the top-grossing movies got here from the Telugu, Tamil, and Kannada industries, which maintained sturdy theatrical pull throughout regional markets and more and more, the Hindi-speaking belt. The energy of dubbed variations and pan-India casting methods additional bolstered the South’s footprint.

Market main multiplex chain PVR Inox plans so as to add 100 new screens in FY25. The report estimates this progress, mixed with an uptick in mass-market content material and low-cost theaters in smaller cities, might develop India’s theatrical viewers base from beneath 100 million to round 175 million folks. Nonetheless, revenues from filmed leisure declined 5% to $2.18 billion, as theatrical admissions dropped and solely 11 Hindi-language movies grossed over INR1 billion ($11.7 million), down from 17 in 2023. Satellite tv for pc and digital rights values additionally fell by 10%.

Tv continued its slide, with revenues falling 4.5% to $7.93 billion. Pay TV houses declined by six million, whereas Linked TV customers grew to 30 million. Print stayed largely flat at $3.04 billion, with a 1% achieve in advert income however a 1% decline in subscriptions. Radio posted a modest 9% improve to $292 million), pushed by occasions and alternate income streams.

On-line gaming revenues shrank 2% to $2.71 billion, dragged down by a 28% GST on deposits and a surge in unlawful offshore platforms. Transaction gaming dropped 6%, whereas informal and free-to-play gaming grew 16%. Music fell 2% to $619 million, though paid subscriptions jumped from 7 million to 10.5 million. Free platforms like YouTube and radio continued to cannibalize premium subscriber progress.

The animation and VFX phase, hit laborious by the Hollywood writers’ strike and lowered worldwide orders, declined 9% to $1.2 billion. In the meantime, stay occasions surged 15% to $1.18 billion, pushed by worldwide excursions, weddings, and election-related spending. Out-of-home media rose 10% to $0.69 billion, fueled by premium stock and transit areas.

Trying forward, the Indian M&E trade is projected to develop at a compound annual charge of seven% and attain $36.1 billion by 2027. Digital media will lead the growth, climbing to $12.9 billion, whereas on-line gaming is anticipated to develop to $3.69 billion. Animation and VFX are projected to succeed in $1.72 billion, and stay occasions are forecast to hit $1.95 billion. Filmed leisure is anticipated to get well modestly to $2.49 billion, whereas tv will proceed its decline, falling to $7.79 billion.

By 2027, digital and gaming mixed are anticipated to make up 46% of the full trade income, with conventional segments like TV, print, and movie lowered to a 41% share. Promoting will contribute 52% of whole revenues, whereas subscription income will shrink to 35%.

“Within the media and leisure sector, two forces reign supreme: content material and the viewers,” Kamal Haasan, chair of FICCI Media and Leisure South, wrote within the report’s foreword. “As we transfer right into a digital first period, it’s our accountability to serve them each with daring, artistic storytelling that displays the wealthy variety of our nation. By harnessing this energy, we will make sure the trade thrives and stays related in an ever evolving panorama.”

Ashish Pherwani, EY India’s media and leisure chief, added: “Lastly, the digital inflection level. And it modifications all the pieces.”

“The long run is brimming with untapped potential,” stated Kevin Vaz, chair, FICCI, media and leisure committee.