Trends To Expect From The Entertainment And Media Industry In Next 5 Years The Indian entertainment and media industry is projected to reach INR 4,30,401Cr by 2026 at 8.8% CAGR.

By Kabir Singh Bhandari

Opinions expressed by Entrepreneur contributors are their own.

You're reading Entrepreneur India, an international franchise of Entrepreneur Media.

Photo by Julius Drost on Unsplash

The Indian entertainment and media industry is projected to reach INR 4,30,401Cr by 2026 at 8.8% CAGR. These statistics were from PwC's Global Entertainment & Media Outlook 2022-2026, the 23rd annual analysis and forecast of E&M spending by consumers and advertisers across 52 territories.

One fact which came as no surprise was that the total OTT revenue more than doubled in 2020, driven by a lack of public entertainment and also the time spent at home due to the pandemic. The trend spilled over to 2021, with the revenue almost touching 2x again. Although the growth rate is slow, the market shall still expand at 14.1% CAGR to reach INR 21,032Cr in 2026.

"The Indian Media and Entertainment outlook for the next few years is quite unique. There is an exciting pace of growth of digital media and advertising led by the deeper penetration of internet and mobile devices in our market. At the same time, traditional media will hold their steady growth rate over the next few years. We shall see a very different profile of media and entertainment related businesses and revenue models emerging in the digital space once we have the rollout of 5G," said Rajib Basu, Partner & Leader, entertainment & media, PwC India.

While looking at newspapers and magazines, there will be an increase in total newspaper revenue at a 2.7% CAGR from INR 26,378Cr in 2021 to INR 29,945Cr in 2026. This shall catapult India ahead of both France and the UK to become the fifth-biggest newspaper market by 2026. On the other hand, the out-of-home (OOH) advertising market is displyaing one of the most significant comebacka globally, and is predicted to grow at 12.57% CAGR to reach INR 5,562Cr in 2026.

Talking about the video games and esports industry, revenue was INR 16,200Cr in 2021, and is predicted to reach INR 37,535Cr by 2026, increasing at a 18.3% CAGR. Understandably, India's TV advertising market was affected by the COVID-19 recession in 2020, causing a -10.8% decline over the 2019 levels. But with the country's return to economic growth in 2021, it went up by 16.9% to INR 32,374Cr.

Indian cinema is predicted to rise at a stunning 38.3% CAGR in the forecast period to reach INR 16,198Cr by 2026,the highest among all the segments.

Werner Ballhaus, Global Entertainment & Media Industry Leader, PwC Germany, also commented on the E and M industry. "Industry press tends to focus on the companies that have dominated the E&M industry. But it is the choices that billions of consumers make about where they will invest their time, attention and money that are fueling the industry's transformation and driving the trends. We are seeing the emergence of a global E&M consumer base for the coming years that is younger, more digital and more into streaming and gaming than the current consumer population. This is shaping the future of the industry."

Looking at emerging markets, the metaverse looms large on the horizon. The virtual world where we shall go out exploring with our VR headsets is an evolution which could possibly change the entire human experience.

Kabir Singh Bhandari

Former Senior Assistant Editor

Thought Leaders

How This Family-Run Company Has Thrived for Five Generations

Marty Ozinga, the CEO of Ozinga, explains the legacy and future of the powerhouse construction materials company.

Business Solutions

Host Your Website with iBrave — $90 for Life Through March 24

iBrave is an advanced cloud web hosting platform.

Starting a Business

They Grew Up in a Financially-Challenged Single-Parent Home and Now These Twins Run a Multimillion-Dollar Real Estate Business. Here's How They Turned Hardship Into Inspiration.

How Jeremy and Joshua Mathis overcame adversity and turned their challenging upbringing into a foundation for real estate success.

Marketing

4 Ways AI Is Revolutionizing Targeted Advertising — And How to Balance It's Ethical Implications

AI-powered targeted advertising revolutionizes marketing with hyper-personalized promotions. However, ethical and transparency questions hover over this progress.

Business Solutions

Upgrade Your Work Laptop or Computer's OS With Windows 11 Pro, Now for Less Than $25

Outfit your office's computers and laptops with Microsoft's latest OS: Windows 11 Pro.

Making a Change

Learn ASL with This Bundle, Just $40 Through March 24

Learning American Sign Language can open up your mind and business potential, and this bundle makes it easy with 55 hours of content on the alphabet, essential phrases, and more.