NEW DELHI: India’s entertainment and media (E&M) industry is set to grow from $32.2 billion in 2024 to $47.2 billion by 2029, at a compound annual growth rate (CAGR) of 7.8%, almost double the global average of 4.2%. This growth is fueled by increasing digital participation, a large youth population, expanding broadband access and deeper consumption of online content, according to a report by PwC (PricewaterhouseCoopers) released on Thursday. The report noted that the sector’s trajectory is supported by economic growth, rising discretionary spending and rapid adoption of digital services. It also highlighted that India’s internet advertising market will grow from $6.25 billion in 2024 to $13.06 billion by 2029, reflecting a CAGR of 15.9%. Mobile-first consumption, regional digital campaigns and subscription-based models shape this boom, making internet advertising the fastest growing segment over the period. OTT streaming will be the second fastest growing segment, with revenues rising from $2.27 billion in 2024 to $3.47 billion in 2029. Growth is driven by regional content, direct-to-consumer models and a growing subscriber base. As video streaming platforms tighten budgets and are careful to light new content, the industry’s future will depend on regional programming, deeper penetration into rural and tier-three markets, and stories rooted in the heartland. Meanwhile, mobile games, video games and esports revenue is expected to increase from $2.79 billion in 2024 to $3.96 billion in 2029, driven by immersive formats, improved in-app monetization and growing engagement of younger audiences. Traditional media remain resilient, supported by regional audiences. Television is expected to grow from $13.97 billion to $18.11 billion by 2029, driven by regional content depth and live formats. Print is set to rise from $3.5 billion to $4.2 billion over the same period (3.3% CAGR), reflecting strong local reader and advertiser confidence. India’s sports sector, projected to generate $4.6-5 billion in revenue in 2024, is also undergoing a transformation. It is expected to grow to a $7.8 billion industry by 2029 as sports investing evolves into an institutional-grade asset class. The report also noted that AI and the creator economy are reshaping content creation and monetization. AI is transforming the E&M value chain through scalable localization, automated editing, personalized recommendations and new content formats. India’s creator economy has grown into a 4-million-strong ecosystem, influencing entertainment, commerce, travel and lifestyle, powered by AI-enabled workflows. “India’s E&M sector continues to outpace global growth, driven by deepening digital markets, the rapid expansion of ad-led formats, and a new generation of creators shaping demand. The sector’s momentum is supported by increasing consumer engagement, improving economic fundamentals, and the continued shift to scalable, technology-enabled business models, set, and entertainment partner, media and entertainment leaders,” said Radesh. PwC India. Manpreet Singh Ahuja, Chief Client and Alliances Officer, PwC India, added that this is not just a story of incremental upgrades, but of business model rebirth, with technology – especially AI – fundamentally redefining how content is created, discovered, monetized and experienced. “AI-led production pipelines, precision personalization and immersive formats are unlocking value across the entire entertainment and media landscape. But no single player can realize this future alone. The next era belongs to connected ecosystems—where cloud platforms, AI innovators, creative powerhouses and media enterprises work together to create something greater than the sum of their parts. When these opportunities unlock new structure and fundamental costs, unlock and reinvent money. companies in enable them to scale faster while operating leaner,” said Ahuja.