Lights, camera, action: India’s entertainment industry set to double global growth, says PwC

MUMBAI:  While the world’s entertainment industry trudges along at a modest pace, India’s is positively sprinting. The country’s entertainment and media (E&M) sector is projected to balloon from $32.2 billion in 2024 to $47.2 billion by 2029, growing at a zippy 7.8 per cent compound annual growth rate—nearly double the global average of 4.2 per cent, according to PwC India’s Global Entertainment & Media Outlook released today.

What’s fuelling this dream-like growth story? A potent cocktail of youth, digital hunger and technological wizardry. India’s massive young population is devouring online content faster than you can say “streaming service,”  whilst broadband access spreads like wildfire and creators reshape the landscape with GenAI-powered tools.

“India’s E&M sector continues to outpace global growth, driven by the deepening of digital markets, the rapid expansion of advertising-led formats, and a new generation of creators shaping demand,” said PwC India partner and leader for media,  entertainment Rajesh Sethi,. The momentum stems from rising consumer engagement, strengthening economic fundamentals, and the relentless march towards tech-enabled business models.

Internet advertising is leading the charge, set to more than double from $6.25 billion in 2024 to $13.06 billion by 2029—a blistering 15.9 per cent CAGR that makes it the fastest-growing segment. Mobile-first consumption and regional campaigns are driving this digital gold rush.

Not far behind, OTT platforms are flexing their muscles as the second-fastest growing segment. Streaming revenues will jump from $2.27 billion to $3.47 billion by 2029, powered by regional content that speaks directly to India’s diverse audiences and subscription models that are finally finding their footing.

Gaming isn’t playing around either. Mobile gaming, video gaming and e-sports will climb from $2.79 billion to $3.96 billion, as younger audiences dive deeper into immersive formats and in-app purchases.

Even traditional media refuses to roll over. Television will swell from $13.97 billion to $18.11 billion by 2029, buoyed by regional content and live programming. Print, defying obituaries written worldwide, will edge up from $3.5 billion to $ 4.2 billion, testament to India’s strong regional readership.

The sports sector represents perhaps the most dramatic transformation, evolving from a $4.6 billion–$5 billion business in 2024 into a projected $7.8 billion industry by 2029—effectively morphing into an institutional-grade asset class that’s attracting serious investment.

Underpinning it all is artificial intelligence and India’s roaring creator economy. Some four million creators are now influencing everything from entertainment to commerce, armed with AI tools that automate editing, enable scaled localisation and spawn entirely new content formats.

“This is not a story of incremental upgrades. It’s a story of business model rebirth,” declared PwC India chief clients and alliances officer Manpreet Singh Ahuja. “We are at an inflection point where technology—especially AI—is fundamentally redefining how content is created, discovered, monetised and experienced.”

The message is clear: India’s not just consuming entertainment anymore—it’s reshaping how the entire world creates, distributes and experiences it. Roll credits on the old model; the next blockbuster is already in production.