A new industry forecast reveals a booming future for India's entertainment and media (E&M) sector, set to significantly outpace global growth rates. According to a report released by PricewaterhouseCoopers (PwC) on Thursday, the industry is on track to expand from $32.2 billion in 2024 to $47.2 billion by 2029. This represents a compound annual growth rate (CAGR) of 7.8%, nearly double the projected global average of 4.2%.
Digital Surge and Regional Depth Fuel Expansion
The impressive growth trajectory is powered by multiple structural factors. A large and digitally active youth population, rapidly expanding broadband access, and increasing consumption of online content are primary catalysts. The report underscores that strong economic fundamentals, rising discretionary spending, and the swift adoption of digital services are providing solid support for the sector's rise.
Within this broad growth, internet advertising stands out as the fastest-growing segment. The market is expected to skyrocket from $6.25 billion in 2024 to $13.06 billion in 2029, achieving a remarkable 15.9% CAGR. This surge is being shaped by mobile-first consumption patterns, the rise of regional digital campaigns, and the proliferation of subscription-based models.
Segment-Wise Breakdown: OTT, Gaming, and Resilient Traditional Media
OTT streaming is positioned as the second-fastest-growing segment. Revenues are projected to climb from $2.27 billion to $3.47 billion over the five-year period. The growth engines here include a strong push in regional language content, direct-to-consumer (D2C) models, and an ever-widening subscriber base. The report notes that as platforms become more budget-conscious, future success will hinge on deeper penetration into rural and tier-three markets with stories rooted in Indian heartlands.
The combined revenue from mobile gaming, video games, and e-sports is also set for a healthy rise, from $2.79 billion to $3.96 billion by 2029. This will be driven by more immersive formats, better in-app monetisation, and growing engagement from younger audiences.
Traditional media segments are showing notable resilience, backed by strong regional appeal. The television industry is forecast to grow from $13.97 billion to $18.11 billion, powered by deep regional content libraries and live programming. Similarly, the print sector is expected to rise from $3.5 billion to $4.2 billion, reflecting a 3.3% CAGR sustained by loyal regional readership and enduring advertiser trust.
Transforming Landscapes: Sports, AI, and the Creator Economy
India's sports sector is undergoing a major transformation. Having generated an estimated $4.6-5 billion in revenue in 2024, it is projected to expand into a $7.8 billion industry by 2029. This growth is linked to sports investments maturing into an institutional-grade asset class.
The report highlights two powerful forces reshaping the industry: Artificial Intelligence (AI) and the creator economy. AI is revolutionizing the E&M value chain through scalable localisation, automated editing, hyper-personalized recommendations, and the creation of entirely new content formats. Simultaneously, India's creator economy has blossomed into a formidable ecosystem of approximately 4 million individuals, influencing entertainment, commerce, travel, and lifestyle, all supercharged by AI-enabled workflows.
Rajesh Sethi, Partner and Leader for Media, Entertainment, and Sports at PwC India, commented on the findings, stating that India's E&M sector continues to outpace global growth due to deepening digital markets, rapid expansion of advertising-led formats, and a new generation of creators shaping consumer demand.
Adding to this, Manpreet Singh Ahuja, Chief Clients and Alliances Officer at PwC India, emphasized that the current phase represents a fundamental rebirth of business models. He pointed out that technology, especially AI, is redefining content creation, discovery, monetisation, and consumption. Ahuja concluded that the next era belongs to connected ecosystems where cloud platforms, AI innovators, and creative enterprises collaborate to unlock new value and reshape cost structures for scalable, leaner operations.
