- India’s M&E sector grew 11.75% in 2024, and is aiming to hit $47.2B USD by 2029.
- Gaming and esports revenue jumped 43.9%, reaching $2.72B USD in 2024.
- Digital media and ads surge well alongside sustained traditional media growth.
India's media and entertainment (M&E) sector is not slowing down. It is expanding faster than other worldwide markets, as both digital and conventional sectors are growing together.
As stated in PwC's Global Entertainment & Media Outlook 2025-29: India Perspective, the sector expanded by 11.75% in 2024, reaching $32.3 billion USD. PwC expects it to continue growing. The industry is expected to reach $47.2B by 2029, at a stable rate of 7.8% CAGR.
India Gaming Market Shows Explosive Momentum
For those keeping track of the growth of gaming and e-sports in India, the figures paint a particularly compelling picture. In 2024, the industry grew by 43.9%, totaling $2.72B. This occurred despite India's regulatory hurdles, such as the ban on real-money gaming. Meanwhile, PwC has also predicted that the growth will continue, with the gaming and esports revenue expected to total $3.96B by 2029.
This growth is being driven by India's mobile-first consumption habits, which have become essential to the country's digital economy. Additionally, the rise of skill-based gaming, a thriving esports tournament scene, and the proliferation of ad-supported casual games are also bolstering this trend.
Digital Media Surge Reshapes India’s Entertainment Sector
India's overall digital push is changing the course of the broader entertainment (including animation, films, OTT, esports, gaming, etc.) industry. Digital media’s boom here is particularly notable, as its income is expected to grow to $19.86B in 2029, up from $10.6B in 2024. This indicates an increase in the share of digital media in the overall M&E sector of India, which stands at 42%, up from 33%.
Internet advertising is driving much of this growth, with revenue expected to nearly double from $6.25B to $13.06B. Alongside, OTT streaming is also steadily increasing, with a projected value of $3.48B by 2029, up from $2.28B.
On the other hand, traditional media, such as television, print, and cinema, have also remained resilient in their growth. The segment is expected to reach $22.9B in 2029, up from $17.5B in 2024, with a stable 5.4-5.5% CAGR. This shows how India remains a global anomaly, with print and television maintaining steady expansion even as digital media grows.
