Digital leads, but traditional media thrives in India’s ‘AND Market’: Kevin Vaz

Digital continues to lead the transformation in media and entertainment sector, but India is not witnessing a replacement of traditional formats, but rather an expansion, said Kevin Vaz, Chairman FICCI Media and Entertainment Committee and CEO-Entertainment, JioStar, at the launch of the FICCI–EY Media & Entertainment Report 2026 on Tuesday.

Describing India as an “AND market”, Vaz said multiple platforms are growing together rather than competing. “It’s interesting to see how India is emerging as a multi-screen nation,” he noted, highlighting the simultaneous rise of connected TV, linear television, mobile, films and print.

Summing up 2025 as a year of “scale, convergence and transformation,” Vaz said the media and entertainment (M&E) industry grew to ₹2.78 trillion, outpacing GDP per capita and even surpassing last year’s estimates. “That tells us one thing clearly — this is an industry with strong momentum and even stronger fundamentals,” he said.

He emphasised that digital has emerged as the largest segment across advertising, subscriptions and commerce, reshaping how content is monetised and consumed. At the same time, emerging segments such as AVGC (Animation, Visual Effects, Gaming and Comics) are becoming powerful growth engines, unlocking new formats of storytelling and global opportunities for India.

Highlighting the role of sports in the M&E ecosystem, Vaz said, “In an on-demand world, India still shows up live. In a personalised world, India still celebrates together.” He added that sports remains one of the few formats that can bring millions together in real time. “Sports don’t fragment audiences. They unite them — just on different screens,” he said.

He pointed to the massive engagement during the ICC Men’s T20 World Cup 2026, noting that the final saw 72.5 million concurrent streams on JioHotstar — a global record. “When India shows up, it really shows up at a global scale,” he remarked.

Beyond sports, Vaz said the appetite for shared experiences is visible across entertainment formats. The film industry had a landmark year with over 1,900 releases and several films crossing the ₹1 billion mark. He cited films like Dhurandhar as examples of compelling content continuing to draw audiences to theatres.

Live experiences are also expanding rapidly, becoming “bigger, louder and far more immersive,” with significant growth potential still untapped, he added.

Vaz also highlighted the growing role of Artificial Intelligence in the sector. “AI is enabling greater personalisation, efficiency and scale. But perhaps most importantly, it is pushing us to rethink creativity itself,” he said. Referring to productions like Mahabharat: Ek Dharmayudh, he noted how AI can amplify storytelling rather than replace it.

On the issue of AI and copyright, Vaz said it remains a widely discussed topic globally and expressed hope that Indian policymakers will engage with the creative industry to ensure fair compensation.

The report underscores that India is emerging as a global case study in balancing scale, diversity and innovation. However, Vaz stressed that this growth comes with responsibility — to build trusted platforms, invest in meaningful stories and ensure audiences remain connected across formats.

Looking ahead, he said the industry is expected to cross ₹3 trillion by 2027, signalling significant opportunity. “We’re not just chasing growth. We’re shaping culture, influencing conversations, and, on some days, even deciding what the country talks about at dinner,” he said.

He congratulated FICCI and EY for the report and said he looks forward to discussions on taking the industry into its next phase of growth.