Indian Economy News

Indian media, entertainment industry may touch Rs 4.3 trn by 2026: Report

  • IBEF
  • June 24, 2022

According to a report by global consulting firm PwC, the Indian media and entertainment industry will grow at an 8.8% CAGR and reach Rs. 4.30 lakh crore (US$ 54.93 billion) by 2026. According to the report, digital media and advertising will drive growth through deeper penetration of the internet and mobile devices in the domestic market, while traditional media will maintain steady growth. By 2026, TV advertising is expected to be worth more than Rs. 43,000 crore (US$ 5.49 billion). After the United States, Japan, China, and the United Kingdom, India will be the world's fifth-largest TV advertising market.

By 2026, India's OTT video services are expected to be worth Rs. 21,031 crore (US$ 2.68 billion), with subscription-based services accounting for Rs 19,973 crore (US$ 2.55 billion) and transactional VOD accounting for Rs. 1,058 crore (US$ 135.18 million) (video on demand).

Over the forecast period, the population size and widespread use of mobile-led Internet video will drive rapid growth in the OTT market. The adoption of 5G, in particular, will enable low-latency services such as OTT video streams, greatly boosting the sector.

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