Date: 2026-03-24Category: Press ReleaseState: Union GovernmentCountry: India
India’s M&E sector likely to grow to INR 3.3 trillion by 2028; Sector grew 9% to INR2.78 trillion in 2025, driven by digital and live experiences: FICCI-EY M&E report
**Executive Summary**
This report summarizes the FICCI-EY document launched on 24 March 2026, detailing the growth of India’s Media and Entertainment (M&E) sector, which reached INR 2.78 trillion in 2025 and is forecasted to hit INR 3.3 trillion by 2028. It highlights the pivotal role of digital media and the Ministry of Information & Broadcasting’s initiative to establish a Live Event Development Cell (LEDC). Key action items include the launch of a single-window clearance portal to streamline the live entertainment ecosystem.
**Key Points / Main Content**
**Market Performance and Projections**
* The M&E sector grew by 9% year-on-year to reach INR 2.78 trillion in 2025.
* The sector is forecasted to reach INR 3.3 trillion by 2028, driven by digital media, films, and animation/VFX.
* New media is expected to dominate over 50% of total sector revenues by 2028.
**Digital and Advertising Trends**
* Digital media surpassed the INR 1 trillion mark for the first time, fueled by shifts in consumer habits and digital advertising.
* Digital advertising grew 26% to INR 947 billion, accounting for nearly two-thirds of all advertising spends.
* Overall advertising grew by 13.5%, with significant contributions from e-commerce and point-of-sale advertisements.
**Government Initiatives for Live Entertainment**
* The Ministry of I&B established the Live Event Development Cell (LEDC) to position India as a global hub for live entertainment.
* LEDC is mandated to identify and resolve regulatory, infrastructural, and operational bottlenecks.
* The government plans to launch a single-window clearance portal for event permissions to improve the ease of doing business.
* Planned investments will focus on infrastructure, skilling, and coordinated action between Centre and State governments regarding taxation and safety norms.
**Impact Analysis**
**Media and Entertainment Companies**
**Impact**
The shift toward digital and regional content provides a significant revenue growth opportunity, with digital media now serving as the primary industry driver.
**Action Required**
Companies must align their strategies with "new media" trends, focusing on smartphones, Connected TVs, and experiential content to capture the projected majority revenue share.
**Live Event Organizers**
**Impact**
The sector is poised for transformational growth through simplified regulations and improved world-class infrastructure.
**Action Required**
Organizers should prepare to transition to the upcoming single-window clearance portal and adhere to standardized safety and compliance frameworks being developed by the LEDC.
**Advertisers and Brands**
**Impact**
Brands are increasingly moving toward measurable, commerce-driven results, with digital and e-commerce ads outpacing traditional growth.
**Action Required**
Marketing departments must continue prioritizing digital ad spend, which now represents the majority of the market, to maintain consumer reach.
Key Entities Referenced
'Stories, scale and impact: Unlocking India’s media and entertainment economy': A comprehensive report by FICCI and EY India that benchmarks the M&E sector's growth and forecasts its expansion to INR 3.3 trillion by 2028.
Live Events Development Cell (LEDC): An initiative within the I&B Ministry mandated to simplify regulations, address infrastructural bottlenecks, and launch single-window clearance for live entertainment.
Ministry of Information & Broadcasting: The primary Union ministry responsible for initiating structured institutional measures to regulate and promote India as a global hub for content and live events.
Mumbai, Maharashtra: The central location identified as India's creative capital and the heart of the media and entertainment ecosystem for films, digital content, and advertising.
FICCI and EY India: Key industry organizations and researchers responsible for the data and insights driving the national strategy for the Media and Entertainment sector.
Ministry of Information & Broadcasting
India’s M&E sector likely to grow to INR 3.3
trillion by 2028; Sector grew 9% to INR2.78
trillion in 2025, driven by digital and live
experiences: FICCI-EY M&E report
With growing global recognition of Indian stories and talent,
this is a defining moment for India to establish itself as a
leading global content hub: Shri Ashish Shelar, Minister of
Information Technology & Cultural Affairs, Government of
Maharashtra
Live Entertainment Poised for Transformational Growth,
states Shri Prithul Kumar, Joint Secretary (Broadcasting-II), I
& B Ministry
Posted On: 24 MAR 2026 5:33PM by PIB Mumbai
Mumbai, 24 March 2026
India’s Media and Entertainment (M&E) sector continued its expansion in 2025, growing 9%
year-on-year to INR2.78 trillion, according to the report 'Stories, scale and impact: Unlocking
India’s media and entertainment economy' released by FICCI and EY India, in Mumbai today.
The Minister of Information Technology & Cultural Affairs, Government of Maharashtra, Shri
Ashish Shelar ceremonially launched the report in the presence of dignitaries including Shri
Anant Goenka, President FICCI & Vice Chairman RPG Group, Shri Kevin Vaz, Chairman FICCI
Media and Entertainment Committee, and Shri Ashish Pherwani, Partner and Leader, Media &
Entertainment Sector EY India.
Shri Shelar highlighted Maharashtra’s central role emphasizing that Mumbai continues to be
India’s creative capital and the heart of the media and entertainment ecosystem, spanning
films, television, music, advertising, and digital content. With growing global recognition of
Indian stories and talent, this is a defining moment for India to establish itself as a leading
global content hub, he added.Government Initiatives Aim to Position India as a Global Hub for Live Entertainment:
Shri Prithul Kumar, Joint Secretary, Ministry of Information & Broadcasting
In a panel discussion titled ‘Lights, Fans, Action: The Business of Live Entertainment takes
Centre Stage’, the Joint Secretary (Broadcasting-II), Union Ministry of Information and
Broadcasting, Shri Prithul Kumar, stated, Live Events Development Cell (LEDC) of the I & B
Ministry is taking steps like simplifying regulations, launching a single-window clearance portal,
and investing in infrastructure and skilling. Such actions will transform the live events sector
into a high-impact engine for jobs, tourism and inclusive economic growth that multiplies every
rupee into broader prosperity, he added.
Prime Minister Shri Narendra Modi has underscored the immense and untapped potential of
India’s Live Concert Economy and called for coordinated efforts to position India as a global hub
for live entertainment. Recognizing the sector’s capacity to generate large-scale employment,
stimulate tourism, attract domestic and foreign investment, and enhance India’s cultural soft
power, the I & B Ministry has initiated structured institutional measures to promote and regulate
the ecosystem. The Live Event Development Cell (LEDC) is mandated to identify regulatory,
infrastructural and operational bottlenecks in the organization of live events and concerts, and
to recommend measures aimed at improving ease of doing business in the live entertainment
sector. It facilitates coordinated action between the Centre and the States on permissions,
safety norms, and taxation and compliance frameworks, while also promoting the development
of world-class infrastructure and event venues.The report further states that digital media took center stage as the biggest driver surging past
INR 1 trillion for the first time fueled by booming digital advertising, live experiences and a
smart shift in consumer habits even amid some regulatory hurdles and rising costs. It paints a
picture of an industry alive with stories that connect people across screens big and small. Digital
advertising jumped 26% to INR 947 billion, grabbing nearly two-thirds of all ad spends, as
brands chase measurable, commerce-driven results. Overall advertising grew 13.5%, outpacing
India's nominal GDP per-capita, with e-commerce and point-of-sale ads leading the charge.
Looking ahead, the report forecasts the sector reaching INR 3.3 trillion by 2028, powered by
digital media, live events, films, and animation/VFX. New media will dominate over 50% of
revenues, shaped by smartphones, Connected TVs, regional content, and experiential trends.
The FICCI and EY India Report titled 'Stories, scale and impact: Unlocking India’s media and
entertainment economy' may be accessed here.
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PIB Mumbai | Sriyanka Chatterjee/Robin Singh/Darshana Rane
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