Govt committed to building future-ready ecosystem to integrate creativity with cutting-edge technology, ensuring sustainable and globally competitive growth: Ashish Shelar, Minister, IT & Cultural Affairs, Govt of Maharashtra
- Digital media emerged as the largest segment, surpassing INR 1 trillion in revenues for the first time, marking a major milestone for the industry
- India continues to evolve as an “AND” market, with the growing strength of large screens complementing digital platforms and creating a more integrated content consumption ecosystem
- Live events witnessed a remarkable 44% growth in 2025, driven by ticketed concerts, large-scale public events, and religious gatherings
- Advertising revenues increased by 13% to reach INR 1.5 trillion, contributing approximately 0.41% to India’s GDP
- The Media & Entertainment sector is projected to grow to INR 3.3 trillion by 2028, expanding at a CAGR of over 7%
India’s Media and Entertainment (M&E) sector sustained strong momentum in 2025, recording a 9% year-on-year growth to reach INR 2.78 trillion, according to the latest report, ‘Stories, Scale and Impact: Unlocking India’s Media and Entertainment Economy’, released by FICCI and EY India. The expansion was largely driven by the rapid rise of digital media, robust advertising growth, and the resurgence of live experiences, even as certain segments navigated regulatory challenges and rising cost pressures.
According to the FICCI-EY report, digital media emerged as the largest segment of India’s M&E industry in 2025, crossing the INR 1 trillion milestone for the first time. Digital advertising saw a robust 26% growth to INR 947 billion, contributing nearly two-thirds of total ad revenues, as brands increasingly shifted towards performance-driven, measurable, and commerce-linked formats.
The sector is also witnessing a significant shift in consumption patterns, particularly with the resurgence of large screens. Linear television is evolving from a traditionally regulated medium into a more dynamic, lifestyle-integrated platform that complements digital growth—reinforcing India’s position as an “AND” market, where multiple screens co-exist and enhance audience engagement.
Overall advertising revenues grew 13.5% in 2025, outpacing India’s nominal per capita GDP growth. This expansion was primarily driven by digital platforms, including e-commerce integrations and point-of-sale advertising, highlighting the increasing convergence of media, retail, and technology.
Mr. Ashish Shelar, Minister of Information Technology & Cultural Affairs, Government of Maharashtra, said:
“The FICCI–EY Media & Entertainment Report continues to serve as a definitive benchmark for the sector, offering credible insights and a forward-looking vision. As India’s M&E industry reaches INR 2.78 lakh crore in 2025, it reflects not just scale, but its growing strategic importance to the nation’s economy.”He added: “Mumbai remains the creative capital of India and the epicentre of this ecosystem, driving innovation, investment, and talent. With rising global demand for Indian stories and content, India is increasingly being recognised as a creative powerhouse and a trusted partner—positioning us as a leading global hub for media and entertainment.”
Mr. Anant Goenka, President, FICCI & Vice Chairman, RPG Group, said:
“India’s media and entertainment economy is being shaped by the powerful interplay of stories, scale and impact. As content expands seamlessly across platforms, its value extends beyond reach to drive economic growth, job creation and cultural influence, with future potential hinging on strong alignment between storytelling, distribution and sustainable monetisation.”Mr. Kevin Vaz, Chairman, FICCI Media & Entertainment Committee, said:
“2025 marked a pivotal year for India’s M&E industry, defined by scale, innovation and evolving audience engagement driven by technology and storytelling. The digital segment crossing INR 1 trillion highlights strong momentum, while television continues to remain resilient, complemented by the rise of Connected TV and immersive large-screen experiences, with balanced regulation and innovation key to sustaining long-term growth.”Mr. Ashish Pherwani, Partner & Leader – Media & Entertainment Sector, EY India, said:
“The sector reached a critical inflection point in 2025, with digital media, advertising and live experiences emerging as primary growth drivers. As consumption scales rapidly, the next phase will depend on sustainable monetisation, disciplined investment and the ability to adapt to evolving consumer behaviour and regulatory realities.”
Segmental Performance 2025:
- Live Events: The organised live events segment surged by 44%, driven by increased spending on ticketed experiences, weddings, large-scale public events, and religious gatherings.
- Digital Advertising: Grew 26% to INR 947 billion, contributing 63% of total ad revenues. E-commerce and point-of-sale advertising alone jumped 50% to INR 220 billion, highlighting the shift toward performance-led marketing. A significant share also came from SMEs and long-tail advertisers.
- Digital Subscriptions: Revenues rose 60% to INR 163 billion, with paid video subscriptions reaching 216 million users across 143 million households. Premium sports and film paywalls played a key role, while paid music subscriptions grew 37%.
- Out-of-Home (OOH): The OOH segment expanded 13%, led by premium inventory. Digital OOH now contributes 18% of segment revenues, up sharply from previous years.
- Music: The sector recorded 10% growth, with incremental gains led by OTT platforms and social media, even as digital licensing remained relatively flat.
- Film: The film segment hit a record INR 205 billion, with over 1,900 releases in 2025. Box office revenues rose 16%, supported by higher ticket prices, with 37 films crossing the INR 1 billion mark.
- Animation & VFX: Growth remained modest at 2%, impacted by global production slowdowns and reduced output from international studios.
- Print: Despite global headwinds, print remained resilient in India, with 2% growth in ad revenues, particularly in premium formats targeting affluent readers. Digital contribution remains limited.
- Television: TV continues to reach 745 million viewers weekly. While linear TV ad revenues declined 10%, the rise of Connected TV—now at 40 million households—helped stabilise overall revenues.
- Radio: The segment declined 7% to INR 23 billion, largely due to lower ad rates, though non-ad revenues now contribute a growing 25% share.
- Video Games: The segment saw a 17% decline, impacted by regulatory changes, even as in-app purchases grew 15%, indicating evolving monetisation models.
Looking ahead, the FICCI–EY report projects India’s media and entertainment sector to reach INR 3.3 trillion by 2028, driven by the continued momentum of digital media, live events, filmed entertainment, and animation and VFX. New media is expected to contribute over 50% of total industry revenues, signalling a decisive shift in consumption patterns, content formats, and monetisation models. The report further highlights that rising smartphone penetration, the rapid adoption of Connected TVs, the surge in regional-language content, and the growing appetite for experiential entertainment will play a pivotal role in reshaping the industry’s growth trajectory.
The report launch also acknowledged the contributions of key industry stakeholders, with Meta as Title Partner and EY as Knowledge Partner, alongside valued associations with Prime Video, Hungama, Lakshya Digital Pvt. Ltd, PVR INOX, and the Producers Guild of India. Kuku TV, as Microdrama Partner, was recognised for spotlighting emerging content formats and evolving storytelling trends.
