Do you know Indians spent over 1.1 trillion hours on their smartphones in 2024? That’s the heartbeat of a nation driving a Rs 2.5 trillion media and leisure (M&E) sector, reveals the newest EY report. In keeping with the report, digital media is overtaking tv in 2024 to grow to be the most important section at Rs 802 billion, which accounts for 32% of the sector’s income. With 562 million lively smartphones, 945 million broadband connections, and 50 million linked TVs, India is a mobile-first market rewriting content material consumption. By 2027, digital media is projected to hit INR 1,104 billion (US$13 billion), pushed by 910 million screens and a subscription video on demand (SVOD) base rising from 47 million to 65 million households.
Digital media instructions 55% of advert spend, with 69% of advert revenues from search, quick video, and social platforms. E-commerce platforms noticed a 50% surge in advert revenues in 2024, and small and medium enterprises (SMEs) are set to spice up advert spends to INR 369 billion by 2027. With India’s 1.4 billion inhabitants and a burgeoning center class, it is a playground for manufacturers looking for attain and engagement.
In terms of creativity, India’s inventive output lies at virtually 2,00,000 hours of unique content material yearly, which incorporates 1,600 movies, 2,600 hours of premium OTT content material, 190,000 hours of tv, and 20,000 unique songs. The report additional reveals that the inventive sector employs 2.8 million individuals and helps 400,000 digital creators.
Moreover, Indian studios are the spine of world blockbusters, contributing VFX to movies like Avengers: Endgame and The Lion King at 40-60% decrease prices than Western markets. With 260,000 creators and engineers, India is the go-to hub for animation, VFX, and post-production, attracting giants like Disney, Netflix, and Warner Bros. Discovery.
In keeping with the EY report, India’s gaming trade consists of 488 million on-line avid gamers in 2024. The sector is projected to develop at a ten.8% CAGR to INR 316 billion by 2027, with esports and informal gaming main the cost.
“India’s expert workforce and aggressive manufacturing prices make it a perfect location for media tech firms,” Rajiv Memani, Chairman and CEO, EY India, stated. Advertisers can leverage the rise of digital out-of-home (DOOH) screens (185,000 in 2024) and a projected 61% digital advert share by 2027 for precision concentrating on.
Synthetic Intelligence is supercharging India’s M&E sector, with GenAI instruments enabling speedy creation of professional-grade movies, storyboards, and music. Indian studios undertake digital manufacturing, real-time rendering, and blockchain for immersive experiences, positioning India as a media tech chief. World gamers like Google and Meta take a look at AI-powered content material and algorithms right here, whereas 1,580 World Functionality Centres (GCCs) and rising Media Functionality Centres (MCCs) drive effectivity in localisation, compliance, and content material administration.
