Digital Surges Ahead as India’s Media and Entertainment Sector Hits $29 Billion, Annual FICCI-EY Report Reveals
variety.comNaman Ramachandran India’s media and entertainment sector hit INR2.5 trillion ($29.4 billion) in 2024, according to the annual Federation of Indian Chambers of Commerce and Industry (FICCI)-EY report.
Titled ‘Shape the Future: Indian Media and Entertainment is Scripting a New Story,’ the report reveals that digital media overtook television for the first time, becoming the industry’s largest segment and accounting for 32% of total revenue, ending a two-decade reign by TV.
Advertising revenues grew 8.1%, reaching an all-time high of $14.9 billion. Digital platforms led the charge, with ad spends on e-commerce, short video, and social media driving digital advertising to $8.18 billion, now comprising 55% of the total ad market.
Print and radio held ground with stable ad revenue, while digital Out-of-Home advertising jumped 78%, contributing 12% of the OOH segment.
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