India's Media Boom: Surging Towards Global Leadership by 2028

India's entertainment and media sector is set to grow at 8.3% annually, reaching Rs 365,000 Crore by 2028, outpacing global growth rates. Driven by digital advertising, OTT platforms, and generative AI, India is poised for transformative growth due to improved connectivity, rising ad revenues, and favorable government policies.

India's entertainment and media industry is on the brink of a significant leap forward, with PwC India's recent report outlining an impressive annual growth rate of 8.3%, potentially reaching Rs 365,000 Crore by 2028. This growth would surpass the global pace, currently pegged at 4.6%.

PwC India's Chief Digital Officer, Manpreet Singh Ahuja, highlights the transformative trends within the sector. Key growth drivers include digital advertising, over-the-top (OTT) platforms, online gaming, and generative artificial intelligence, rapidly positioning India as a world leader in media innovation.

India's improved digital infrastructure, rising advertising revenues, and supportive government policies are underpinning this growth. Notably, the online advertising market is slated to grow at a robust 15.6% annually, contributing significantly to India's ascendance in global media rankings.

(With inputs from agencies.)