US, China remain biggest pie-holders globally, says PwC report
The Indian media and entertainment industry is expected to grow at a CAGR of 8.8 per cent and reach Rs 4.30 lakh crore by 2026, according to a report by global consultancy firm PwC. The growth would be paced by digital media and advertising through deeper penetration of the internet and mobile devices in the domestic market, along with traditional media, which will hold their steady growth, the report said. TV advertising is expected to reach over Rs 43,000 crore by 2026. It will make India the fifth-largest TV advertising market globally, after the US, Japan, China and the UK. The Indian media and entertainment industry is expected to be around Rs 3.14 crore in 2022, registering an overall growth of 11.4 per cent, as per the PwC's Global Entertainment & Media Outlook 2022-2026. India's OTT Video services are expected to become a Rs 21,031 crore industry in the next four years by 2026, in which Rs 19,973 crore would come from subscription-based services and Rs 1,058 crore from ...
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