India’s E&M industry to touch nearly $37 billion by 2030: PwC

India’s entertainment and media (E&M) industry is expected to grow from $25.7 billion in 2025 to $36.7 billion by 2030, expanding at a compound annual growth rate (CAGR) of 7.4%, according to PwC India’s Global Entertainment & Media Outlook 2026-2030.

The growth rate is nearly twice the projected global E&M growth of 4% during the same period. PwC India said the sector is moving from a scale-driven phase, where audience acquisition was the primary focus, towards a value-driven model centred on monetising engagement, improving revenue generation and building sustainable user economics.

Internet advertising, OTT video and gaming are expected to account for a significant share of the industry’s incremental growth, while regional-language content and technology-led revenue streams are opening up new opportunities for media companies.

“India has already demonstrated its ability to build audience scale. The next phase is about converting that engagement into sustainable value. AI is beginning to improve how content is created, discovered, and personalised, while regional storytelling and premium experiences are creating new ways to deepen engagement and monetisation. Companies that combine innovation with relevance, operational discipline, and trust will be best placed to lead the next phase of growth,” said Rajesh Sethi, Partner and Leader, Media, Entertainment, and Sports, PwC India.

Internet advertising is expected to remain the primary growth engine for the sector. Revenue from internet advertising is projected to nearly double from $7.5 billion in 2025 to $14.3 billion by 2030, registering a CAGR of 13.9%. Search and video advertising are expected to support much of this expansion.

The OTT video market is projected to grow from $2.2 billion in 2025 to $3.6 billion by 2030, at a CAGR of 10.2%. As the market matures, streaming platforms are expected to focus increasingly on engagement, retention and revenue per user rather than subscriber additions alone.

Advertising-supported offerings are also becoming an important monetisation lever for OTT platforms, alongside subscriptions. Premium content and regional programming are expected to play a larger role in helping platforms attract and retain audiences.

Gaming and e-sports are projected to grow from $1.5 billion in 2025 to $2.6 billion by 2030, recording an 11.3% CAGR. The sector is expected to broaden its revenue base through in-game advertising, sponsorship-led e-sports and recurring revenue models as the market matures.

AI is emerging as a key technology across the E&M value chain, with applications spanning content creation, production, discovery, advertising and audience engagement. These include pre-visualisation, de-ageing, multilingual voice modelling, virtual production, generative engine optimisation, personalisation and recommendation systems.

The technology is also expected to help companies improve operational efficiency while creating new opportunities for monetisation. This could further accelerate the shift towards more personalised content and advertising experiences.

Connectivity will be another major enabler of India’s digital media growth. Data connectivity revenue is projected to increase from $36.5 billion in 2025 to $58.6 billion by 2030, growing at a CAGR of 9.9%.

The expansion of mobile, broadband, fibre and 5G infrastructure is expected to support richer content experiences, new advertising models and larger addressable audiences across India’s digital ecosystem.

Regional-language content is also emerging as an important growth driver. As platforms expand beyond India's largest urban markets, regional storytelling is helping media companies reach new audiences and create additional monetisation opportunities across the country's diverse linguistic markets.

However, traditional media is expected to remain resilient in India. Traditional television revenue is projected to grow modestly from $7.2 billion in 2025 to $7.5 billion by 2030, while newspaper revenue is expected to increase from $3 billion to $3.5 billion.

The continued growth of television and print in India, despite declines in several mature global markets, reflects the strength of regional audiences, advertiser demand, trusted media brands and deeper integration between traditional and digital channels.

Premium live and out-of-home experiences are also creating new revenue opportunities across music, sports and cinema. Consumers are showing greater willingness to pay for immersive, exclusive and differentiated experiences, encouraging businesses to focus on spend per consumer rather than audience numbers alone.

With infrastructure, connectivity, platforms, advertising and AI increasingly converging, India's E&M industry is entering a phase where reach alone is unlikely to determine growth. The ability to convert engagement into sustainable revenue, while maintaining consumer and advertiser trust, is expected to become increasingly important.