India’s media and entertainment (M&E) sector saw significant growth and transformation in 2025, reaching Rs 2.78 trillion with a 9% increase, surpassing the nominal GDP expansion. A report by FICCI and EY predicts that the sector will grow by 2.8% to Rs 2.86 trillion in 2026 and Rs 3.3 trillion by 2028.
Digital media has become the largest segment, generating over Rs 1 trillion in revenues. The report highlights that digital advertising accounted for 63% of total ad spends, with a notable rise in subscriptions driven by OTT platforms, premium sports, and regional content.
On the other hand, television witnessed a gradual decline, dropping to Rs 617 billion in 2025 and is expected to further decrease at a negative 5% CAGR. Despite this, total TV households are projected to exceed 200 million by 2028.
A significant shift noted is the growth of regional storytelling, with regional languages contributing to over half of OTT consumption and almost two-thirds of film production. In 2025, the industry produced nearly 200,000 hours of content, primarily led by television and supported by OTT and short-form formats, while facing challenges from changing ad spends and declining subscriptions.
Advertising played a crucial role in driving growth, expanding by 13.5% to Rs 1.5 trillion, mainly led by digital formats, e-commerce, and SME participation. The organized live events segment experienced a 44% increase, driven by higher spending on ticketed events, personal functions, government events, and religious gatherings, including the Maha Kumbh Mela.
