India’s media and entertainment (M&E) industry is undergoing a transformation of historic scale, powered by digital access, global partnerships, and a surge in homegrown creativity. EY’s latest report, A Studio Called India, launched during WAVES 2025, offers a panoramic view of the sector’s explosive growth, backed by deep data.
Global Content Factory
2.8 million media professionals power the industry today, including 200,000 hours of annual content generated by broadcasters.
1.4 billion people make up India’s potential audience — including the world’s largest Gen Z and millennial population.
The M&E sector is valued at INR 2.3 trillion (USD 27 billion) in 2024 and is projected to grow to INR 3.1 trillion (USD 36 billion) by 2027.
India now produces over 2,000 films annually in 20+ languages, more than any other country in the world.
The Digital Story
Digital advertising alone crossed INR 571 billion in 2024, and is expected to reach INR 957 billion by 2027, growing at a CAGR of 19%.
95 million paid video subscriptions exist today — projected to grow to 170 million by 2027.
Indians consumed 1.8 trillion minutes of video in 2024, or roughly 3.5 hours per user per day.
OTT platforms generated INR 129 billion in revenue in 2024, expected to hit INR 185 billion by 2027.
Gaming: The New Frontline
India has 488 million gamers, a number that could cross 525 million by 2027.
The gaming segment is expected to reach INR 421 billion by 2027, growing at 20% CAGR.
There are over 1,900 gaming companies in India, making it one of the fastest-growing gaming hubs globally.
Live Events, Influencers, and the Creator Economy
The live events sector witnessed over 30,000 events in 2024, with industry revenues at INR 135 billion, projected to grow to INR 235 billion by 2027.
India now has over 4 million content creators, contributing to a creator economy worth INR 500 billion by 2030.
An INR 83 billion government fund has been earmarked to support creative entrepreneurs and digital creators.
TV, Cable, and Connectivity Infrastructure
India has 908 registered television channels, of which 574 are free-to-air.
There are 945 million broadband connections (both wired and wireless) and 46 million wired internet subscribers.
Pay-TV subscriptions stand at 117 million, despite a shift toward digital-first platforms.
AVGC, VFX, and the AI Creative Wave
India’s AVGC (Animation, Visual Effects, Gaming & Comics) sector employs over 300,000 professionals.
AVGC exports account for 70–80% of revenues in the VFX and post-production segment.
AI tools are now being used for dubbing, content localization, intelligent marketing, and media planning — fast becoming a cornerstone of production efficiency.
India’s Global Ascent
India is now a preferred destination for global content production, with over 10,000 studios across the country.
Up to 35% production incentives are available across states, with several offering single-window clearance.
100% FDI is permitted in most media segments under the automatic route.