India’s media and entertainment (M&E) sector is on track for a compound annual growth rate (CAGR) of 8.3%, reaching ₹3,65,000 crore ($44.2 billion) by 2028, up from ₹2,45,000 crore ($29.5 billion) in 2023, according to PwC’s latest report, India’s Digital Advertising Surge: Navigating Growth in the Changing Media Landscape. Digital advertising is set to drive growth, with revenues expected to double to ₹85,000 crore ($10.3 billion) by 2028, growing at a 15.6% CAGR. 

Despite global declines in TV and print advertising, India’s TV and print markets will remain stable, with TV ad revenue projected to reach ₹38,000 crore ($4.6 billion) and print ads to ₹23,000 crore ($2.8 billion) by 2028. Additionally, India is expected to rise from ninth to eighth place in the global M&E market. Major growth drivers include over-the-top (OTT) platforms, online gaming, and generative AI. India’s OTT market is projected to double its revenue to ₹35,062 crore ($4.2 billion) by 2028.

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