New Delhi, Dec 5 (IANS) India’s entertainment and media industry will grow from $32.2 billion in 2024 to $47.2 billion by 2029 at a 7.8 per cent compound annual growth rate, nearly twice the global average of 4.2 per cent, a report said on Friday.

The growth will be driven by rising digital participation, a large youth population, expanding broadband access and deeper online content consumption, the report from PwC India said.

These factors are reshaping audience behaviour across formats and creating opportunities for platforms, advertisers and creators, the report said.

Internet advertising is set to be the fastest‑growing segment, rising from $6.25 billion in 2024 to $13.06 billion by 2029 marking a 15.9 per cent CAGR, the report said.

Mobile-first consumption, regional digital campaigns, and subscription-based models are driving this segment.

The firm forecasted the over‑the‑top (OTT) streaming revenues to grow from $2.27 billion in 2024 to $3.47 billion by 2029, supported by regional content, direct-to-consumer models, and an expanding subscriber base.

“We are at an inflection point where technology—especially AI—is fundamentally redefining how content is created, discovered, monetised and experienced," said Manpreet Singh Ahuja, Chief Clients and Alliances Officer, PwC India

"AI-led production pipelines, precision personalisation and immersive formats are putting value in motion across the entire entertainment and media landscape," he added.

Further, mobile gaming, video gaming, and e‑sports revenue is expected to rise from $2.79 billion to $3.96 billion, driven by immersive formats and improved in‑app monetisation, it added.

Traditional media remains resilient, supported by regional audiences as TV is projected to grow from $13.97 billion to $18.11 billion, while print will risse from $3.5 billion to $4.2 billion at a 3.3 per cent CAGR.

Sports and live experiences, projected at $4.6–$5 billion in 2024, could expand to $7.8 billion by 2029, the report noted.

IANS

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