India's media industry in flux: digital tops, TV shrinks

The Indian media and entertainment industry grew just 3.3% in 2024 to ₹2.5 lakh crore, with digital overtaking TV as the largest segment. While events and digital out-of-home media grew, segments like TV, animation, gaming, and subscription revenue declined. EY's analysis highlights shifting screen habits, SME-driven ad growth, and emerging cost efficiencies through AI.