Digital to Drive Nearly 50% of India's M&E Revenue by 2027: FICCI-EY

India's media and entertainment sector is undergoing a digital transformation, with new media emerging as the dominant force driving growth and revenue.

- TBG NETWORK

New media space in India is growing by leaps and bounds, with an ever-increasing rise in internet penetration supported by the affordability and aspiration of its citizens.

According to a joint report by industry body FICCI consultancy services firm EY, by 2027, new media (digital as well as online gaming) will comprise 46 per cent of media and entertainment sector revenue, while traditional media (TV, print, film, radio, and Out-of-Home (OOH) will contribute 41 per cent of the sector's revenues.

In another projection, the joint report said that advertising will comprise 52 per cent (from 51 per cent in 2024) of total sector revenues in 2027, while the share of subscription will reduce to 35 per cent by 2027 (from 39 per cent in 2024).

The Indian media and entertainment sector is projected to grow at a compound annual growth rate of 7 per cent and add Rs 564 billion in three years through 2027, the FICCI-EY report said.