India's screen entertainment market to touch USD 17 billion by 2029: Report
New Delhi [India], May 4 (ANI): The screen entertainment market in the country is estimated to touch USD17 billion by 2029, driven by digital platforms and sustained by television and movies, according to a joint report by Media Partners Asia (MPA), IP House and Confederation of Indian Industry (CII).
Television, while slightly declining, remains a close second at USD 6.8 billion, underscoring its widespread reach and cultural inertia across Indian households. Movies are set to earn USD 1.9 billion, recovering steadily through hybrid release strategies and multiplex revival, as per the report.
Together, the three formats signal a shift from traditional to digital, while still coexisting in a hybrid, multi-screen future, the report added.
According to the report, by 2029, one in every two dollars in India's screen economy will come from online video, accounting for 50 per cent of all screen entertainment revenue, surpassing television and redefining how the nation watches its stories unfold.
The joint report projects total content investments to reach USD 7.5 billion by 2029, and online video is set to match television's share of spending for the first time.
From just 15 per cent of investment in 2019, online video will rise to 43 per cent by 2029, reflecting a compound annual growth rate (CAGR) of 8.5 per cent.
Meanwhile, TV's share has steadily declined from 67 per cent to 43 per cent, following the shift in consumer viewing behaviour, the report added.
As one of Asia's largest video content markets, India's content investment has already reached USD 5.8 billion in 2024, nearly doubling since 2019.
This growth is led by premium VOD platforms fuelling demand for original, regional, and mobile-first content.
India's online video sector generated an estimated USD 4.2 billion in 2024, with 75 per cent driven by advertising and 25 per cent from subscriptions. Premium video-on-demand platforms–across freemium (ad-supported) and SVOD models–are gaining traction in a market historically shaped by user-generated and social video platforms, with SVOD alone contributing USD 1 billion.
Yet, SVOD household penetration remains well below regional benchmarks, largely due to the persistent challenge of digital piracy, which also suppresses advertising revenue for freemium services.
The report highlights that despite its scale and momentum, India's online video sector faces significant revenue and growth constraints due to unchecked digital piracy–targeted anti-piracy measures offer a clear path to recovery and reinvestment.
In 2024, approximately 90 million users accessed pirated video content, resulting in USD 1.2 billion in revenue loss–equivalent to 10 per cent of the legal video industry, as per the report. (ANI)
This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
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