India has emerged as one of many fastest-growing media and leisure (M&E) markets globally, with a compound annual progress charge exceeding 7.5%, because the subcontinent spearheads a metamorphosis that’s propelling the worldwide M&E business in direction of $3.5 trillion by 2029, in keeping with PwC’s newest World Leisure & Media Outlook report.
The expansion is pushed primarily by web promoting, which is rising at 15.9% yearly. This explosive progress stems from a number of converging components: increasing web penetration, rising 5G connectivity adoption, and the surging recognition of social media and short-form video content material amongst India’s huge inhabitants.
Throughout the globe, the business approached $3 trillion in income final yr and is projected to develop at a compound annual progress charge of three.7% by means of 2029—outpacing international financial progress regardless of dealing with headwinds from financial uncertainty and constrained client spending.
Promoting takes centre stage
Essentially the most hanging revelation from the great evaluation is promoting’s meteoric rise because the business’s main progress engine.
While subscription-based and paid content material providers face mounting strain from market saturation and financial constraints, promoting revenues are surging at a powerful 6.1% compound annual progress charge, thrice quicker than the patron class’s modest 2% progress.
The fastest-growing income streams paint a transparent image of promoting’s dominance: retail promoting leads at 15% progress, adopted intently by social and cell on-stream video promoting, additionally at 15%, and linked TV in-stream web promoting at 14%.
Digital promoting codecs, which already account for 72% of total promoting income in 2024, are projected to command 80% of the market by 2029.
This shift is being supercharged by synthetic intelligence and hyper-personalisation applied sciences that promise extra focused and efficient promoting experiences.
The linked tv revolution exemplifies this transformation. In 2020, linked TV promoting income represented merely 5.9% of conventional broadcast tv promoting.
By 2024, this determine had quadrupled to 22%, and projections counsel it can attain a staggering $51 billion by 2029—equal to 45% of conventional broadcast TV promoting income.
Gaming and cinema developments
The worldwide video gaming business continues its outstanding trajectory, with revenues of $224 billion in 2024 anticipated to achieve almost $300 billion by 2029. Notably, gaming revenues now exceed the mixed revenues of the film and music industries, cementing its place as a cornerstone of recent leisure.
Cinema is experiencing its personal transformation, with international field workplace spending projected to rise from $33 billion in 2024 to $41.5 billion in 2029. Nonetheless, client preferences are shifting decidedly in direction of domestically produced movies, with the highest 5 US studios’ international market share declining from over 60% pre-pandemic to 51% in 2024.
The report highlights a persistent paradox: while shoppers spend growing quantities of their leisure time on-line, they proceed to allocate nearly all of their leisure budgets to offline experiences.
In 2024, non-digital codecs accounted for 61% of client income, a proportion anticipated to stay comparatively secure all through the forecast interval.
Written with the View : afaqs
