Indian entertainment sector could unlock Rs. 50,724 crore (US$ 6 billion) in unrealised value by 2030: Report

The Indian entertainment sector could unlock an estimated Rs. 50,724 crore (US$ 6 billion) in unrealised value by 2030, according to a recent industry report. This growth potential is attributed to international collaboration, technology adoption, and strategic changes in content creation. Despite being one of the world's largest entertainment markets with 551 million Over-The-Top (OTT) users, India currently generates only Rs. 17,753.4 crore (US$ 2.1) billion in revenue, far below its potential. Countries such as South Korea, with smaller audiences, generate significantly higher international revenues through content exports. The report suggests that with local optimisation, India's OTT market could reach Rs. 76,086 crore (US$ 9 billion). A more ambitious shift in strategy could push this figure beyond Rs. 1,26,810 crore (US$ 15 billion) by 2030. The document, titled The Future of the Indian Entertainment Business in Partnership with the World, was released after the Content India Summit held in Mumbai on April 1, 2024. 

The report highlights the need for global partnerships rooted in Indian storytelling, international support for local pilot projects, and aligning production with audience demand. It also stresses the importance of the creator economy and adopting emerging technologies like artificial intelligence. Chief Executive Officer of DishTV, Mr. Manoj Dobhal, emphasised that India has the opportunity to become a global production hub with unmatched resources and skills. Additionally, the founder of C21Media, Mr. David Jenkinson, noted that India could be at the heart of the global entertainment business. However, challenges such as a mismatch between audience preferences and content output and misreading consumption patterns need to be addressed. With its cost advantages in production and the underutilised Indian diaspora, India has the potential to become one of the top three global entertainment economies. The findings of this report will inform the agenda for the upcoming Content India 2026 event. 

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.