Entertainment industry to grow twice the global growth rate, to touch $47.2 bn by 2029: PwC
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India’s entertainment and media (E&M) industry is poised to grow at a compound annual growth rate (CAGR) of 7.8% from $32.2 billion in 2024 to $47.2 in 2029. This figure is nearly double the estimates for the E&M complex globally, which is expected to grow at a CAGR of 4.2% over the next 5 years, according to the PwC Global Entertainment and Media Outlook 2025-29 report.
Rising digital participation, a large youth base, expanding broadband access, and deeper consumption of online content have been cited as the fuel behind India’s E&M growth momentum. This is reshaping audience behaviour across formats, and creating new opportunities for platforms, advertisers, and creators. The report notes that consumers are increasingly seeking personalisation, immersive formats, and regional content, while businesses are integrating technology and analytics to respond to this shift.
Further, the E&M’s trajectory is supported by economic growth, increased discretionary spending, and rapid adoption of digital services. Large-scale participation in global and regional events that take place in India is also positioning the country as a budding hub for live entertainment.
“India’s E&M sector continues to outpace global growth, driven by the deepening of digital markets, the rapid expansion of advertising-led formats, and a new generation of creators shaping demand,” said Rajesh Sethi, partner and leader – media, entertainment, and sports, PwC India.
January 2026
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“The sector’s momentum is supported by rising consumer engagement, improving economic fundamentals, and the continued shift towards scalable, tech-enabled business models,” he added.
Key trends shaping India’s E&M landscape
Internet advertising continues to scale: India’s internet advertising market will grow from $6.25bn in 2024 to $13.06 bn in 2029, reflecting a 15.9% CAGR. Mobile-first consumption, regional digital campaigns, and subscription-based models are shaping the next wave of growth, making internet advertising the fastest-growing segment for the 2024–29 period.
OTT strengthens with regional and subscription-led growth: OTT streaming will be the second fastest growing segment, with revenues set to expand from $2.27 bn in 2024 to $3.47 billion by 2029, supported by regional content, direct-to-consumer models, and an expanding subscriber base. Strategic investments in platforms and premium formats are further strengthening monetisation.
Gaming and e-sports see sustained momentum: Mobile gaming, video gaming, and e-sports revenue will rise from USD2.79 bn in 2024 to USD3.96 bn in 2029. Growth is driven by immersive formats, improved in-app monetisation, and deeper participation from younger audiences.
Traditional media remains resilient, supported by regional audiences: TV will grow from $13.97 bn to $18.11 bn by 2029, driven by regional content depth and live formats. Print will rise from $3.5 bn to $4.2 bn by 2029 (3.3% CAGR), showcasing strong regional readership and advertiser trust.
Sports and live experiences evolve into high-value entertainment assets: A significant transformation is underway in India’s sports sector, which generated USD4.6–USD5.0 bn revenue in 2024. Anticipated to expand into a $7.8 bn industry by 2029, sports investments are rapidly evolving into an institutional-grade asset class.
AI and the creator economy are reshaping content creation and monetisation: AI is transforming the E&M value chain through scaled localisation, automated editing, personalisation, and new content formats. India’s creator economy has grown into a 4-million-strong ecosystem, influencing entertainment, commerce, travel and lifestyle, powered by AI-enabled workflows.
According to the PwC report, India’s burgeoning E&M sector is a beacon of innovation and growth in the global landscape. Speaking on the findings, Manpreet Singh Ahuja, chief clients and alliances officer, PwC India, said, “This is not a story of incremental upgrades. It's a story of business model rebirth. We are at an inflection point where technology—especially AI—is fundamentally redefining how content is created, discovered, monetised and experienced.”
He said that AI-led production pipelines, precision personalisation and immersive formats are putting value in motion across the entire entertainment and media landscape.
“But no single player can unlock this future alone. The next era belongs to connected ecosystems—where cloud platforms, AI innovators, creative powerhouses and media enterprises collaborate to architect something bigger than the sum of their parts. When these forces align, they not only unlock new monetisation opportunities but also fundamentally reshape cost structures, allowing companies to scale faster while operating leaner," Ahuja added.