In 2024, India witnessed a significant shift as digital media revenues outpaced television for the first time. The sector experienced a robust growth of 17%, reaching $9.35 billion and accounting for 32% of the overall market. Conversely, television revenue saw a decline of 4.5%. Another sector experiencing contraction was the film industry, with domestic box office receipts falling by 5%. Despite these challenges, the overall media and entertainment sector grew by 3.3% to reach $29.4 billion.
Advertising revenues across all sectors increased by 8.1% in 2024, yet subscription-based models faced challenges, showing a 2% decrease. However, digital media stood out with a remarkable 15% growth in subscription revenues. Live events also showed promise, growing by 15%. Looking ahead, projections indicate a 7.2% growth in 2025, with expectations to reach $36.1 billion by 2027.
Digital Dominance Over Traditional TV
The digital media landscape in India has undergone a transformative phase, surpassing traditional television as the leading revenue generator. This shift marks a pivotal moment where evolving consumer preferences have significantly impacted media consumption patterns. Digital platforms are not only attracting more viewers but also driving substantial increases in subscription numbers, particularly in paid video and music streaming services.
This transition is fueled by the rapid adoption of digital technologies among Indian audiences. As digital media continues to expand its reach, it captures a larger share of the advertising pie, contributing to its robust growth figures. In contrast, linear television faces declining ad and subscription revenues, reflecting a broader trend of audience migration from conventional viewing habits to on-demand content. The decrease in pay-TV homes further underscores this shift, despite gains in free and connected TV usage. These dynamics highlight an ongoing evolution in how consumers engage with media content.
Film Industry Challenges Amidst Live Event Growth
While the digital sector thrives, the Indian film industry encounters challenges marked by a decline in both domestic box office and overall revenues. Factors such as reduced demand for digital and satellite rights have affected profitability within the sector. Nevertheless, certain films like Pushpa 2: The Rule managed to achieve significant success, indicating pockets of resilience amidst broader trends of contraction.
Despite setbacks in filmed entertainment, live events have emerged as a bright spot, witnessing a substantial increase in participation and spending. This growth spans various categories including government-sponsored activities, weddings, and international concerts held in India. Such developments suggest that while some segments face difficulties, others find new avenues for expansion. With forecasts pointing towards steady growth over the next few years, stakeholders in India’s media and entertainment landscape remain optimistic about future opportunities driven by technological innovation and changing consumer behaviors.