For the first time, digital media has overtaken television as the largest segment in India’s media and entertainment (M&E) industry. According to the Ficci-EY Media & Entertainment Report 2025, digital media contributed 32% of the sector’s total revenue in 2024, reaching ₹80,200 crore, while TV revenues stood at ₹67,900 crore.
Industry Growth and Digital Expansion
India’s M&E sector grew by 3.3% to ₹2.5 trillion in 2024 and is projected to reach ₹2.68 trillion in 2025. Digital advertising surged 17%, accounting for 55% of total ad revenues. Subscription revenues also rose 15%, with paid video subscriptions reaching 111 million across 47 million households.
Streaming Platforms and Changing Trends
OTT platforms like Netflix, Amazon Prime Video, and JioHotstar expanded their content in multiple languages. However, fewer original productions were greenlit, and post-theatrical movie acquisitions declined.
Television Remains Resilient
Despite digital media’s rapid growth, TV remains relevant. While linear TV revenues declined for the second consecutive year, viewership remained steady. The number of Pay TV homes dropped by six million, while connected TV households grew to 30 million.
Cinema Faces Challenges
The film industry struggled, with revenues falling 5% to ₹18,700 crore in 2024. Theatrical admissions declined due to high ticket prices and weak content. Only 11 Hindi films crossed the ₹100 crore mark, down from 17 in 2023.
Gaming Hit by Higher Taxes
Online gaming saw a slowdown due to a 28% GST on player deposits. As a result, the industry contracted by 2%, despite a 16% rise in casual gaming. Many companies absorbed the tax impact, leading to a 6% revenue decline.
Print, Music, and Hollywood Trends
Paid music subscriptions grew from 7 million to 10.5 million, while digital news subscriptions remained low at 3.1 million. Print advertising grew slightly, supported by premium ad formats and event-led revenues. Meanwhile, Hollywood’s VFX and animation segment suffered a 9% decline due to reduced content production following the writers’ strike.
India’s entertainment landscape is rapidly evolving, with digital media reshaping content consumption and industry dynamics.
