India’s media and entertainment (M&E) sector is entering a new phase of growth, projected to reach ₹3.3 trillion by 2028, according to the FICCI–EY M&E Report 2026. The industry grew 9% year-on-year to ₹2.78 trillion in 2025, driven by the rapid expansion of digital media, advertising, and live events.
Digital media emerged as the largest segment, crossing the ₹1 trillion milestone for the first time. Digital advertising alone grew 26% to ₹947 billion, accounting for nearly two-thirds of total ad revenues, fueled by performance-driven and commerce-linked formats. Subscription revenues also saw strong momentum, rising 60% to ₹163 billion.
A key highlight of the report is India’s evolution into an “AND” market, where digital and traditional platforms coexist and complement each other. Television continues to dominate reach with around 745 million weekly viewers, while Connected TV is scaling rapidly, nearing 40 million units and enhancing large-screen consumption.
Live events recorded the fastest growth at 44%, supported by concerts, large-scale gatherings, and cultural events, signalling a strong demand for shared, real-world experiences. The film industry also remained robust, generating ₹205 billion in revenues with over 1,900 releases.
Overall advertising grew 13.5% to ₹1.5 trillion, contributing 0.41% to India’s GDP.
Looking ahead, growth will be driven by digital platforms, live experiences, and emerging segments like animation and VFX. As consumption scales across screens, the industry’s next phase will depend on sustainable monetisation, innovation, and adapting to evolving consumer behaviour.
