India’s Entertainment and Media (E&M) industry is projected to grow at a CAGR of 8.3%, reaching ₹3,65,000 crore ($19.2 billion) by 2028, according to PwC India’s report, “Global Entertainment & Media Outlook 2024–28: India Perspective.” This growth rate significantly outpaces the global average of 4.6%.
Despite global challenges, E&M revenues worldwide increased by 5.5% year-on-year, rising from ₹13,89,100 crore in 2022 to ₹17,35,900 crore in 2023. India, currently ranked 9th globally in E&M revenue, benefits from strong government policies, enhanced connectivity, and a young population base of 91 crore with access to affordable data. The government aims to leverage this growth through initiatives like the WAVES summit, focusing on global collaboration and innovation.
India’s advertising market is projected to grow at a CAGR of 9.4%, from ₹1,01,000 crore in 2023 to ₹1,58,000 crore by 2028, with digital advertising leading the way. Internet advertising, growing at a CAGR of 15.6%, will rise from ₹41,000 crore in 2023 to ₹85,000 crore by 2028. Double-digit growth in this segment is expected throughout the forecast period, reflecting the shift toward digital platforms.
While digital growth surges, traditional TV advertising in India is set to grow at 4.2% CAGR from 2023 to 2028, even as global revenues for TV advertising decline by -1.6%. India is on track to become the fourth-largest TV advertising market by 2026.
With strong digital penetration, increasing advertising revenue, and favourable policies, India’s E&M industry is poised to become a global leader by 2028.
