**Summary: New Media Growth in India**
The new media sector in India is rapidly expanding, driven by increased internet access and consumer aspirations.
### The Rise of New Media in India
**Who:** The report is a collaboration between FICCI and EY.
**What:** It highlights the growth of new media, including digital and online gaming.
**When:** Projections are made for the year 2027.
**Where:** The focus is on the Indian media and entertainment sector.
**Why:** The shift in consumer preferences towards digital platforms is reshaping the industry.
### Key Insights on Media Revenue
– By 2027, new media is expected to account for **46%** of the media and entertainment sector revenue.
– Traditional media, including TV, print, film, radio, and Out-of-Home (OOH), will contribute **41%**.
– Advertising revenue is projected to rise to **52%** of total sector revenues, while subscription revenue will decrease to **35%**.
### Growth Projections
– The Indian media and entertainment sector is anticipated to grow at a **7%** compound annual growth rate (CAGR), adding **₹564 billion** by 2027.
– New media will drive **68%** of this growth, followed by live events at **12%** and animation and VFX at **8%**.
### Shifting News Consumption
– As audiences increasingly consume news through online video and social platforms, news media must adapt their content and monetization strategies.
– Content should be created in multiple formats to cater to younger audiences and various segments.
### Digital Media Overtakes Television
– For the first time, digital media has surpassed television, contributing **32%** of media industry revenues in 2024.
– Digital media is projected to grow at an **11.2% CAGR** from 2024 to 2027, while television is experiencing a decline with a **-0.6%** growth rate.
### Conclusion
As the media landscape evolves, how will traditional broadcasters adapt to the growing dominance of digital platforms?
**FAQ:**
**Q: What is the projected growth rate of the Indian media and entertainment sector?**
**A:** The sector is projected to grow at a compound annual growth rate of 7% through 2027.