PwC claims Media and Entertainment industry likely to do business of ₹4.30 lakh crore by 2026

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New Delhi. The Indian media and entertainment industry will be worth Rs 4.30 lakh crore by the year 2026. It is likely to grow at a compound annual growth rate (CAGR) of 8.8 per cent, said global consultancy firm PwC in its report.

According to the report, the growth in digital media and advertising sector due to the deep penetration of internet and mobile devices in the domestic market will boost the business of the industry. Simultaneously, the steady growth in traditional media will also continue.

Domestic TV advertising industry to be worth Rs 43,000 crore by 2026
The report said that the domestic TV advertising industry will be worth Rs 43,000 crore by the year 2026. This will make India the fifth largest TV advertising market in the world after the US, Japan, China and the UK.

According to PwC’s report ‘Global Entertainment and Media Outlook 2022-2026’, the Indian industry is an overall growth of 11.4 per cent. In addition, India’s OTT video services sector is expected to generate a business of Rs 21,031 crore during the next four years. . Out of this, business of Rs 19,973 crore will be in subscription based services and Rs 1,058 crore in rental or demand based video segment.

TV advertising sector to be Rs 43,568 crore in 2026
The report said that the TV advertising sector will grow from Rs 35,270 crore in 2022 to Rs 43,568 crore in 2026, registering a growth of 23.52 per cent. Apart from this, India’s Internet advertising market is also poised to grow at a CAGR of 12.1 per cent to reach Rs 28,234 crore by 2026. At the same time, the music, radio and podcast sector grew by 18 per cent to Rs 7,216 crore in 2021 and is expected to grow at a CAGR of 9.8 per cent to Rs 11,536 crore by 2026.

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