Indian Digital Media Grew 17% To $9.4BN In 2024, Overtaking TV For First Time – FICCI-EY Report
deadline.comRevenues from India’s digital media sector surpassed television income for the first time in 2024, according to the latest FICCI-EY annual report, growing 17% to reach $9.35BN (INR802BN) and contributing 32% to the overall pie.
Meanwhile, revenues from television, which has been the biggest sector for 20 years, declined 4.5% to $7.9BN (INR679BN). Linear TV revenues fell for the second consecutive year with a 6% drop in advertising revenue and a 3% decline in subscription revenue.
Pay-TV homes decreased by six million, although free TV and connected TV homes increased. Film was another contracting sector with domestic box office down 5% from $1.4BN (INR120BN) in 2023 to $1.3BN (INR114BN) last year, according to FICCI-EY figures.
Overall film revenue was also down 5% to $2.2BN (INR187BN), with a 10% drop in both digital and satellite rights as broadcast and OTT buyers focused on profitability.
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