Media and Entertainment Industry in India Surpasses Pre-Covid Levels with 20% Growth in 2022

The media and entertainment (M&E) industry in India saw a remarkable growth of 19.9% (approximately 20%) in 2022, surpassing pre-Covid levels and crossing the US$ 24 billion (Rs. 2 trillion) mark. According to the ‘Windows of Opportunity: India’s M&E Sector Maximizing Across Segments’ report, launched at the FICCI Frames event in Mumbai, the sector has been expanding at a compound annual growth rate (CAGR) of 10.5% and is expected to reach US$ 35 billion (Rs. 2.83 trillion) by 2025. Mr. Subhrakant Panda, President of the Federation of Indian Chambers of Commerce and Industry (FICCI), stated that the M&E sector is set to become one of the largest in the world by 2030, when India becomes the third-largest economy.

Digital Advertising Dominates Media and Entertainment Sector Revenue, Animation and Visual Effects Show Potential

The report also revealed that the advertising revenue for the media and entertainment sector exceeded US$ 12 billion (Rs. 1 trillion) in 2022, with digital advertising accounting for the largest share. Digital advertising accounted for 48% of all ad income, which is higher than TV's portion of 30% and print's share of 16%. The traditional media also saw an increase in revenue in 2022. Animation, visual effects, and graphics were identified as areas with immense potential in the M&E sector. The expansion of digital media has been facilitated by smartphone usage, low-cost data, and even distant locations' access to the internet.

India's M&E Industry Surpasses Pre-Covid Levels with 20% Growth in 2022

The media and entertainment industry in India has grown at a staggering 19.9% (approximately 20%) in 2022, surpassing pre-Covid levels and crossing the US$ 24 billion (Rs. 2 trillion) mark. This growth is attributed to the industry's expansion into various segments and the introduction of new technologies, which have helped to keep the sector thriving.

News Conclusion:

The media and entertainment industry in India has demonstrated remarkable growth, surpassing pre-Covid levels and crossing the US$ 24 billion (Rs. 2 trillion) mark in 2022. The sector's expansion is being driven by various factors such as the growth of digital media, low-cost data, and increased smartphone usage. Furthermore, animation, visual effects, and graphics have been identified as areas with immense potential. With a compound annual growth rate of 10.5%, the M&E sector is expected to reach US$ 35 billion (Rs. 2.83 trillion) by 2025, making it one of the largest industries in the world by 2030.

Important News Tags and Headlines for Readers

The media and entertainment (M&E) industry in India

‘Windows of Opportunity: India’s M&E Sector Maximizing Across Segments’ report,

Federation of Indian Chambers of Commerce and Industry (FICCI)

India becomes the third-largest economy.