According to the most recent report from the Motion Picture Association (MPA) and Deloitte, the film, television, and streaming industries in India have become important drivers of the country's economy.
The industry produced about USD 61.2 billion (INR 514,000 crore) in 2024, highlighting its critical role in creating jobs, exporting culture, and bolstering India's soft power internationally.
The MPA report reveals that the sector supported around 2.64 million jobs across various domains, including production, distribution, and digital platforms. This growth trajectory is expected to continue, with projections indicating a Compound Annual Growth Rate (CAGR) of 6–7% over the next four years, potentially reaching combined revenues of USD 17.5 billion (INR 147,000 crore) by FY 2029.
With effective regulatory support, the industry could witness a higher growth trajectory of 9–10% CAGR, equating to combined revenues of nearly USD 20 billion (INR 165,000 crore) in FY 2029.
Charles Rivkin, Chairman and CEO of MPA, emphasized India's significance as a critical global market for MPA members.
He noted, "India is a critical global market for MPA members – and its dynamic film, television, and streaming industry is a powerful driver of jobs, cultural influence, and the country’s overall creative economy." Rivkin further highlighted the importance of continued investment and collaboration to strengthen India's position as a global hub for media and entertainment.
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The report also highlights the quick rise of digital media, which has surpassed television to take the lead in the media and entertainment industry. Platforms like social media, e-commerce, and short videos have contributed to the notable rise in digital advertising revenues, which increased by 17% in 2024. This change is a reflection of shifting consumer tastes as well as the growing importance of digital platforms in the consumption of content.
With digital media at the forefront, the Indian media and entertainment industry is expected to continue growing in the future. To maintain this growth and guarantee that India stays at the forefront of the global creative economy, strategic investments, infrastructure development, and policy support will be essential.
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