Media

With the dynamic integration of digital technologies and enhanced viewership demand from across the globe, India's media and entertainment (M&E) industry stands at a focal point of growth and potential transformation. Growing at a CAGR of 10% between 2023 and 2026, India's M&E sector will be propelled by digital media through the adoption of OTT platforms and the thrust of government incentives. In 2023, India released ~2,00,000 hours of content, and regional OTT content volumes surpassed Hindi-language content. 

With improving digital infrastructure wherein wired (and similar) home broadband is anticipated to double its current size and grow from 38 Mn to 70 Mn in 2026, the advent of 4K and 8K technology in the coming years, and India being the fastest in the world with 5G rollout, media consumption is bound to grow by manifold. 

Advancing towards a target of a $1 Tn digital economy, the Indian online gaming ecosystem is expanding at an unprecedented rate with the potential to become a multi-billion dollar opportunity. It is projected to cross INR 388 Bn by 2026 with gamers growing from 455 Mn to over 500 Mn and the global gaming market touching $600 Bn valuation by 2030. 

The adoption of modern technologies and advancements in the VFX and animation segments has posed a massive opportunity for Indian animation and VFX companies that have been involved in the making of popular Hollywood films like Avatar. To enhance the opportunities for foreign filmmakers in India, the government of India has also launched incentive schemes for audio-visual co-production with foreign countries, the shooting of foreign films in India, etc. In 2023, 35 foreign film projects were granted permission for production in India. These initiatives will make India a favourable destination for international film production while simultaneously generating employment. 

The media industry represents evolving consumer preferences and emerges as one of the transformative paths for the Indian digital landscape.