Date: December 10, 2024
Indian Entertainment Industry to Reach 3.65 Lakh Crore by 2028!
Indian Entertainment Industry Poised for Massive Growth by 2028
India’s top sources of entertainment—cinema, politics, and cricket—continue to capture the hearts of millions. Despite the challenges brought on by the pandemic, the Indian entertainment and media industry has not only survived but thrived, emerging stronger than ever.
With a compound annual growth rate (CAGR) of 8.3%, India’s entertainment sector is projected to grow to a whopping ₹3.65 lakh crore by 2028, far surpassing the global average growth rate of 4.6%.
Key Drivers Behind the Entertainment Industry Exponential Growth
Several factors are contributing to this extraordinary growth trajectory:
1. Digital Advertising
- Projected CAGR: 15.6%
- Expected Revenue: ₹85,000 crore by 2028
- India is on track to achieve the highest growth rate among the top 15 global markets.
2. Online Gaming
- Projected CAGR: 19.2%
- Revenue Estimate: ₹39,583 crore by 2028
- The gaming sector is rapidly expanding, fueled by increased internet access and mobile device usage.
3. OTT Platforms
- Projected CAGR: 14.9%
- Expected Revenue: ₹35,061 crore by 2028
- India remains the fastest-growing OTT market globally, reflecting a shift in consumer behavior toward digital content consumption.
4. Out-of-Home (OOH) Advertising
- Current Growth Rate: 12.9%
- Future CAGR: 7.6%
- Continued investment in innovative advertising methods is helping this sector maintain steady growth.
5. Traditional Print Advertising
- Expected CAGR: 3%
- India is set to become the third-largest print market worldwide by 2028, demonstrating the enduring appeal of traditional media.
Cinema Market Continues to Shine
The cinema industry, a cornerstone of Indian entertainment, is projected to grow at a CAGR of 14.1%. With audiences returning to theaters and box office revenues surging, the future looks bright for filmmakers and distributors alike.
Broadband and Smartphone Penetration Boost Growth
By 2028, India is expected to witness significant advancements in connectivity:
- 80 crore broadband subscriptions
- 78 crore internet users
- 55 crore smartphone users
These figures underscore the increasing accessibility of digital content and services, further fueling the industry’s growth.
Conclusion
The Indian entertainment and media sector is on the verge of unprecedented growth. With its diverse offerings, from cinema and OTT platforms to gaming and digital advertising, the industry set to revolutionize how people experience entertainment.
Stay tuned as India’s entertainment industry reaches new milestones, transforming the global landscape by 2028!