MAM
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.
Brands
YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
