Mumbai: India’s media and entertainment (M&E) sector grew by 9 percent year-on-year to reach Rs 2,78,000 crore in 2025, according to the FICCI-EY Media & Entertainment Report 2026. The industry is expected to grow further to Rs 3,30,000 crore by 2028, at a steady pace of over 7 percent annually.
Digital Media Leads the Expansion
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Digital media became the biggest segment for the first time, crossing Rs 1 lakh crore. Digital advertising rose sharply by 26 percent to Rs 94,700 crore and made up nearly two-thirds of total ad revenues. Advertising through e-commerce and retail outlets jumped 50 percent to Rs 22,000 crore, showing strong demand from brands.
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Digital subscriptions saw major growth, increasing 60 percent to Rs 16,300 crore. Paid video subscriptions reached 216 million users, while paid music subscriptions rose 37 percent to 14.4 million. This shows more people are willing to pay for online content across platforms.
Live Events See Big Jump
Live events grew 44 percent, driven by concerts, weddings, public events, and religious gatherings. These events are becoming more popular as people look for real-life experiences beyond screens. Overall advertising grew 13 percent and contributed about 0.41 percent to India’s GDP.
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The film industry earned Rs 20,500 crore, with more than 1,900 releases and 37 films crossing Rs 100 crore collections. Television remained strong with 745 million weekly viewers, though ad revenue fell 10 percent. However, connected TV devices grew to 40 million, balancing the decline.
Music revenues increased 10 percent, while out-of-home media grew 13 percent. On the other hand, radio and gaming sectors saw declines due to lower ad spending and regulatory issues. Print remained stable, with ad revenue growing 2 percent and digital making up 5–6 percent of its income.
Industry Leaders Highlight Future Growth
Maharashtra minister Ashish Shelar said Mumbai continues to be India’s creative hub. Industry leaders like Kevin Vaz and Anant Goenka highlighted that digital, TV, sports, and cinema are all growing together. Rising smartphone use and regional content will drive future growth, with digital expected to contribute over half of total revenues by 2028.