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IndeThe entertainment and media (E&M) industry is expected to reach Rs 4,30,401 crore by 2026 at 8.8% Cagr, according to a report on Thursday.
PwC’s global entertainment and Media Insights The 2022-2026 report showed substantial growth in E&M industry segments in India such as OTT Video, Newspapers, Advertisements, Online Games, Cinema, Music, among others.
“The Indian media and entertainment outlook for the next few years is quite unique. There is an exciting pace of growth in digital media and advertising, driven by the deeper penetration of the internet and mobile devices into our market,” said Rajib BasuPartner & Leader – Entertainment & Media, PwC India in a statement.
“At the same time, traditional media will maintain its steady growth rate over the next few years. We will see a very different profile of media and entertainment related businesses and revenue models emerge in the digital space once we have the rollout of 5G,” he added.
The absence of public entertainment and extra time at home due to the Covid pandemic more than doubled total OTT revenues in 2020 and 2021. While growth rates will slow, the market will continue to expand at a impressive 14.1% Cagr to reach Rs 21,032 crore in 2026.
India will also see an increase in total newspaper revenue at 2.7% Cagr from Rs 26,378 crore in 2021 to Rs 29,945 crore in 2026. The country is expected to overtake France and the UK to become the fifth largest newspaper market. newspapers by 2026, and will also be the only country to steadily increase total newspaper printing revenue over the five-year forecast period, according to the report.
In addition, out-of-home (OOH) The advertising market is also showing one of the strongest returns in the world and is expected to grow at 12.57% Cagr to reach Rs 5,562 crore in 2026.
While the TV advertising market is expected to grow at a Cagr of 6.3% to reach Rs 43,410 crore by 2026, the Internet advertising market is expected to grow at a Cagr of 12.1% to reach Rs 28 Rs 234 crore by 2026.
The country’s total video game revenue and export was Rs 16,200 crore in 2021 and is expected to reach Rs 37,535 crore by 2026, growing at a rate of 18.3%. Although still a relatively small market for the size and population of the country, India is the third fastest growing video game market in the world, after Turkey and Pakistan.
India is also the world’s third largest market in terms of total number of cinema tickets sold, after Chine and USA in 2021 and is expected to grow at the highest growth rate among all segments at a staggering growth rate of 38.3% over the forecast period to reach Rs 16,198 crore by 2026.
The music, radio and podcast segment also grew by 18% in 2021 and is expected to grow by 9.8% Cagr to reach Rs 11,536 crore by 2026.
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