India’s media and entertainment sector will reach $25.2 billion in 2022

India’s media and entertainment (M&E) sector grew by 16.4% to ₹1.61 billion ($21.5 billion) in 2021, according to a recent EY-FICCI report.

The industry is expected to grow 17% in 2022 to reach $25.2 billion and recover to pre-pandemic levels of 2019, then grow at a CAGR of 11% to reach $30.9 billion by 2024 .

Main conclusions

  • The Indian M&E sector is expected to grow at a CAGR of 13% and the top contributors to this growth will be Digital, Films & TV (combined adding 65% of the growth), followed by Animation & VFX (14 % each) and online. gambling (7%).

  • Even though the share of traditional media amounted to 68% of the sector’s revenues, digital media, as one might expect, has grown considerably to establish itself as the second largest segment.

  • The growth of digital infrastructure is also advancing by leaps and bounds. According to the results, India has 795 million broadband connections, over 500 million smartphones and 10 million connected TVs, in addition to 170 million active TV connections. 390 million Indians played online games, 150 billion online music streams were consumed, 40 million Indian households paid for 80 million online video subscriptions and 400 million subscribers consumed content bundled in 2021. The number of screens is expected to reach 1 billion by 2024/25.

  • India is one of the largest content producers in the world and is fast becoming the content back office of the world.

  • It produced 150,000 hours of TV content, 2,500 hours of premium OTT content and 2,000 hours of filmed content in 2021, supported by over 950 animation and VFX studios, 185,000 electronic artists and 139 universities.

According to Ashish Pherwani, Head of Media and Entertainment at EY India: “India has always been a different media and entertainment market, leading the pack in technology and leading the pack in digital adoption. “

He added, “Technology has led to the democratization of M&E in India and the flow of consumer data provides rich, real-time information on what the consumer likes and dislikes, when and how they are consumed. “.

Sanjay Gupta, Chairman of FICCI’s Media and Entertainment Committee, said: “The massive Covid-19 disruption in 2020 was a major event for all industries and more so for M&E as more and more people relied on it to educate, inform and comfort them during these difficult and complex times. In 2021, industry and consumers have wholeheartedly embraced the choices that have emerged, and the recovery is well underway, with digital playing a central role.