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The Indian advertising sector is expected to grow with a CAGR of 12 per cent and should reach Rs 1 lakh crore revenue by 2024, said a joint report by industry body Ficci and consultancy firm EY. The Indian Media and Entertainment sector revenue grew 16.4 per cent to Rs 1.61 lakh crore (USD 21.5 billion) in 2021, said the report titled Tuning into consumer - Indian M&E rebounds with a customer-centric approach'. "We expect the M&E sector to grow 17 per cent in 2022 to reach Rs 1.89 lakh crore (USD 25.2 billion) and recover its 2019 pre-pandemic levels, then grow at a CAGR of 11 per cent to reach Rs 2.32 lakh crore (USD 30.9 billion) by 2024," it said. Though television remained the largest segment, digital media cemented its position as a strong number two segment followed by a resurgent print, it added. "Digital media grew the most at Rs 6,800 crore and consequently, increased its contribution to the M&E sector from 16 per cent in 2019 to 19 per cent in 2021," it ...