In 2019, the Indian media and entertainment industry was estimated at $25 billion, and by 2022, it will be worth $34.8 billion.
The Indian M&E industry is expected to grow at a 14 percent compound annual growth rate (CAGR) between 2016 and 2021, outpacing the global average of 4.2 percent CAGR, with advertisement revenue expected to grow at a 15.3 percent CAGR over the same time.
The most common categories are television, print, and films, which account for nearly 80% of the M&E industry.
Prasar Bharati’s digital channels on DD and Akashvani grew by more than 100% in 2020, clocking over a billion digital views and over 6 billion digital watch minutes.
According to estimates, the online video streaming platforms industry could be worth INR 4000 crore by the end of 2025.
From $1.1 billion in 2019, the online gaming industry is projected to expand at a CAGR of 40% to $2.8 billion by 2022, up from $1.1 billion in 2019.
The audiovisual and gaming sector is increasing at a rate of 29% between 2019 and 2024, while the audiovisual and services sector is growing at a rate of 25%.
In 2020, India’s OTT content investments stood at a total of over $700 million.
The Indian government has taken a number of steps, including digitising the cable distribution sector in order to attract more institutional investment, raising the FDI cap in cable and direct-to-home (DTH) satellite platforms from 74 percent to 100 percent, and granting industry status to the film industry in order to facilitate access to institutional finance.
The Film Facilitation Office (FFO) is a single-window clearance and facilitation point set up by the Ministry of Information and Broadcasting, Government of India, to assist filmmakers and production companies in obtaining required filming permissions.
The Ministry of Information and Broadcasting’s integration of Film Media Units into one corporation in December 2020 would result in a consolidation of activities and resources, as well as improved collaboration, ensuring synergy and efficiency in achieving each media unit’s mandate.
In September 2020, the Indian government announced plans to collaborate with IIT Bombay to establish an Animation, Visual Effects, Gaming, and Comic (AVGC) Centre for Excellence.