India's M&E Industry: A Digital Renaissance

India's media and entertainment industry is enjoying a remarkable period of growth, attributed to the rapid advancement of digital platforms, shifting consumer habits, and technological leaps. According to the FICCI-EY report, the sector expanded at a rate of 9% in 2025, reaching a valuation of Rs 2.78 trillion, outpacing broader economic markers and establishing itself as a core component of India's digital economy.

The industry has entered a transformative phase characterized by increased audience engagement and platform convergence. Digital media's emergence as the dominant sector, surpassing traditional television, underscores a significant shift in consumption habits. Streaming services have become central to how content is accessed and enjoyed.

Maharashtra's role as the hub of India's media and entertainment infrastructure was highlighted by Ashish Shelar, Minister of Information Technology & Cultural Affairs. He emphasized Mumbai's ongoing leadership in fostering creative innovation, investment, and talent. The sector's expansion is mirrored in the growth of digital advertising and subscription models, which now form a substantial portion of total advertisement spending. Paid subscriptions across video and music services are experiencing rapid upticks.

The report points to digital platforms as key drivers of growth, reshaping the industry's revenue and engagement models. According to Anant Goenka, FICCI President, and Vice Chairman of RPG Group, India's media economy is increasingly defined by the synergy of storytelling, scale, and impact. The capability to seamlessly extend narratives across diverse platforms amplifies their economic and cultural value.

Remarkably, Indians devoted over 1.2 trillion hours to their mobile devices in 2025, with almost 59% focused on media and entertainment, underscoring the shift toward mobile-first and on-demand content formats. Regional content is significantly influencing the market, with a rise in production and consumption across diverse language groups.

Emerging technologies like artificial intelligence are transforming content creation and distribution, enhancing efficiency, personalization, and localization. Live events and experiential entertainment are experiencing robust growth, aligning with the increasing demand for shared and immersive experiences. The evolution of creator-led and interactive formats is further redefining revenue structures within the industry.

Projections suggest that the sector will surpass Rs 3 trillion by 2027, driven by consistent growth across digital media, live events, and filmed entertainment. The industry is poised for continued expansion, innovation, and global leadership in the media and entertainment landscape.