Indian M&E sector crossed INR 2.3 trillion in 2023, expected to reach INR3.1 trillion by 2026: FICCI-EY report
Indian M&E sector crossed INR 2.3 trillion in 2023, expected to reach INR3.1 trillion by 2026: FICCI-EY report · The media and entertainment (M&E) sector grew over 8 per cent in 2023 · 70 per cent of growth stemmed from new media, which now constitutes 38 per cent of the sector · Experiential segments like film, online gaming and events together grew 18 per cent MUMBAI, 05 March 2024: The latest FICCI-EY report titled ‘#Reinvent: India’s media & entertainment sector is innovating for the future’, launched at the FICCI FRAMES 2024 in Mumbai, revealed that the Indian M&E sector grew by 8% in 2023, reaching INR2.3 trillion (US$27.9 billion), 21% above its pre-pandemic levels in 2019. New media, comprising digital and online gaming, emerged as the frontrunner in growth, contributing INR 122 billion of the overall increase of INR 173 billion, and consequently, increased its contribution to the M&E sector from 20% in 2019 to 38% in 20...