India's M&E sector crosses Rs 2.5 tn in 2024, advertising revenues surge

The Indian Media and Entertainment (M&E) sector has achieved a significant milestone in 2024, reaching a total value of Rs 2.5 trillion (USD 29.4 billion), as per the latest FICCI-EY report.

- AGENCIES

This marks a 3.3 per cent increase from the previous year, despite challenges such as falling subscription revenues and a global slowdown in Animation and VFX outsourcing.

The sector contributed 0.73 per cent to India's GDP in 2024.

For the first time in two decades, digital media has surpassed television to become the largest segment within the Indian M&E industry, accounting for 32 per cent of overall revenues and growing by 17 per cent to reach Rs 802 billion.

This shift highlights the rapid adoption of digital platforms and changing consumer preferences.