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Digital Surges Ahead as India's Media and Entertainment Sector Hits $29 Billion, Annual FICCI-EY Report Reveals

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Titled 'Shape the Future: Indian Media and Entertainment is Scripting a New Story,' the report reveals that digital media overtook television for the first time, becoming the industry's largest segment and accounting for 32% of total revenue, ending a two-decade reign by TV.
The Indian media and entertainment sector has reached a valuation of $29 billion, with digital media leading the growth, according to the annual FICCI-EY report. Digital media has now surpassed television in revenue, driven by increased consumption of online video, gaming, and music. The report highlights a significant shift in consumer behavior towards digital platforms, with digital media expected to grow at a 13.5% CAGR over the next five years. Traditional media like TV and print are facing challenges, with TV ad revenue declining and print media struggling to adapt to digital trends. However, there are signs of recovery in cinema and growth in regional content, indicating a diverse and evolving media landscape in India.

Read the Full Variety Article at:
[ https://www.msn.com/en-us/money/other/digital-surges-ahead-as-india-s-media-and-entertainment-sector-hits-29-billion-annual-ficci-ey-report-reveals/ar-AA1BKVfV ]