Indian advertising grew 8.1% in 2024. Digital media comprised 55% of total ad spends
M&A value grew ~9.5x in 2024 with 9 deals over INR5 billion each
Digital media is expected to be the first M&E segment to cross INR1 trillion in ad revenues in 2026
Looking ahead, the Indian M&E sector is expected to grow by 7.2% in 2025, reaching INR2.7 trillion (US$31.6 billion), and then expand at a Compound Annual Growth Rate (CAGR) of 7% to reach INR3.1 trillion (US$36.1 billion) by 2027. This growth trajectory is poised to be shaped by innovative business models, strategic alliances, and industry consolidation.

Creators, advertisers, and technology innovators across all segments of the M&E ecosystem. With India’s media and entertainment market expected to surpass INR 3trillion by 2027, the future is brimming with untapped potential.  FICCI remains committed to fostering collaboration and innovation to ensure that India’s M&E sector continues to thrive as a global powerhouse.”

Mr Ashish Pherwani, Media & Entertainment Leader and Partner, EY India said, "The digital revolution has not only transformed how content is created and consumed but has also redefined the very essence of the M&E industry. From immersive storytelling and interactive experiences to innovative business models and strategic alliances, the landscape is continually reshaping itself. As digital media overtakes traditional mediums, we are witnessing a paradigm shift, where the value delivered across information, escapism, materialism, and self-actualization becomes the new benchmark for success.”

Ms Jyoti Vij, Director General, FICCI added, “The FICCI-EY report reaffirms the resilience and dynamism of India’s Media & Entertainment sector, which continues to thrive despite global economic headwinds. The impressive 8.1% rise in advertising revenues and the exponential growth of digital media underscore India’s leadership in content creation and consumption. As the industry undergoes rapid transformation, FICCI remains steadfast in driving policy reforms, fostering strategic collaborations, and shaping a future-ready ecosystem that not only fuels sustainable growth but also strengthens India’s global influence in the M&E landscape.”