India’s entertainment and media industry to grow at CAGR of 8.3 per cent by 2028

The Indian entertainment & Media industry is projected to grow at CAGR of 8.3 per cent to hit ₹3.65 lakh crore ( $44.2 billion) by 2028 outpacing the global rate of 4.6 per cent, as per the latest report released by PwC.

Despite economic challenges and geopolitical tensions, global E&M revenues grew 5.5 per cent year-on-year in 2022, with US leading the global E&M market by revenue, with China in the 2nd place and India at the 9th place.

Manpreet Singh Ahuja, Chief Digital Officer and TMT Leader at PwC India said, “India’s Entertainment & Media sector is on the cusp of a major transformation. Key growth drivers such as digital advertising, OTT platforms, online gaming, and Generative AI are shaping the future of the industry. These rapidly expanding segments are positioning India as a global leader in innovation and growth. Businesses that adapt and innovate in these areas are poised to seize unparalleled opportunities in this dynamic landscape.” Read more

Source: The Hindu Businessline

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