Digital Media Surges Ahead in India's Entertainment Sector

India's new media is rapidly emerging, with digital platforms outpacing traditional media in the entertainment sector. A report by FICCI and EY forecasts digital media will account for 46% of industry revenue by 2027, as the sector grows at a 7% annual rate, challenging television's dominance.

India's media landscape is undergoing a transformative surge, with digital platforms surpassing traditional media. According to a joint report by FICCI and EY, by 2027, digital media and online gaming will comprise nearly half of the media and entertainment sector's revenues, challenging conventional platforms like television, print, and radio.

The report anticipates that advertising will constitute 52% of the sector's revenues by 2027, while subscription models will see a decline. The industry is projected to expand at a 7% compound annual growth rate, adding significant value in the upcoming years, driven primarily by new media expansion.

As audiences increasingly turn to online content, media companies must adapt to shifting consumption patterns. The report emphasizes the need for multi-format and multimedia content tailored to diverse audiences, especially younger demographics. Meanwhile, linear television faces declines, reflecting a broader shift towards digital platforms.

(With inputs from agencies.)