India’s entertainment and media sector is anticipated to reach Rs 6,828,944 crore ($73.6 billion), driven by an increase in OTT platforms.
According to a report released on Tuesday, the entertainment and media sector in India is projected to reach Rs 6,828,944 crore ($73.6 billion) by 2027, rising at a 9.48 percent CAGR, driven by the rise of OTT platforms.
According to PwC’s “Global Entertainment and Media Outlook 2023–2027,” OTT income will increase by a further 25.1% in 2022 to reach Rs 1,48,554 crore ($1.8 billion), thanks to new launches from overseas companies and an increase in “pay-lite” choices.
This is more than six times what was earned in 2018. The market will continue to expand quickly, rising at a 14.3% CAGR to generate revenue of Rs 2,88,855 crore ($3.5 billion) in 2027, according to the analysis.
This will be fueled by the aggressive SVOD (subscription-video on-demand) industry, which in 2022 will account for 78.1% of market revenue.
Advertising-supported services (AVOD) would grow at a faster rate, although from a smaller base, even though subscription service income will increase at a 13% CAGR to reach Rs 2,14,578 crore ($2.6 billion).
Manpreet Singh Ahuja, Chief Digital Officer and Leader — Technology, Media and Telecom, PwC India, stated that the media sector will surely be disrupted as use cases for new technologies like AI/ML and metaverse emerge.
More interactive and immersive viewing experiences are already being pushed for by media firms and content producers.
We anticipate that media and entertainment companies will make significant investments in transformative future concepts in order to remain relevant to their viewers.
The results showed that India’s total revenue from video games and esports was Rs 1,40,301 crore ($1.7 billion) in 2022 and is projected to increase to Rs 3,46,626 crore ($4.2 billion) by 2027, growing at a 19.4 per CAGR.
According to Rajib Basu, Partner & Leader — Entertainment & Media, PwC India, “increased mobile penetration and the use of digital technologies are poised to disrupt existing channels and create new possibilities in the years ahead for the sector.”
We anticipate that media and entertainment companies will make significant investments in transformative future concepts in order to remain relevant to their viewers.
The results showed that India’s total revenue from video games and esports was Rs 1,40,301 crore ($1.7 billion) in 2022 and is projected to increase to Rs 3,46,626 crore ($4.2 billion) by 2027, growing at a 19.4 per CAGR.
With a 12.3% CAGR, it is predicted that the total income in the Indian Internet advertising market would increase from Rs 3,63,132 crore ($4.4 billion) in 2022 to Rs 6,51,987 crore ($7.9 billion) by 2027. This makes it one of the fastest-growing markets in the world.
Between 2022 and 2027, the Indian consumer book market would grow at a CAGR of 3.7%, with total sales rising from Rs 90,783 crore ($1.1 billion) to Rs 1,07,289 crore ($1.3 billion).
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