OTT is emerging as a major player in digital entertainment, while television continues to be the industry’s bedrock, holding over 30% of the market, Kevin Vaz, Chairman, FICCI Media and Entertainment Committee and CEO- Entertainment, JioStar, said during the FICCI Frames Curtain Raiser.
Vaz highlighted that the year 2024 was a breakthrough year for India’s media and entertainment industry. From global recognition at Cannes and the Oscars to our rise as a VFX powerhouse, India is firmly on the world stage.
On the national front, Southern cinema has reached unprecedented heights, showcasing exceptional storytelling and grandeur, he added.
“What sets India apart is not just our growth, but the way we grow. We are not an “OR” market but an “AND” market- television and digital media are thriving together. Television will grow from 190 million households in 2024 to 214 million households by 2026, while digital platforms continue to soar, creating a dynamic media ecosystem,”
Furthermore, he emphasised that sports, especially the IPL, continues to drive content consumption, demonstrating the power of both TV and digital, reaching 525 million viewers on TV and 550-600 million on streaming platforms.
“This is the Indian way – embracing innovation without abandoning tradition. With the IPL 2025 underway in full fervor, it will be exciting to see how it reaches new heights and breaks records across both TV and digital platforms once again,” Vaz said.
“OTT is set to become a major force in digital entertainment, while television remains the bedrock of our industry, commanding over 30% of the market. Looking ahead, India is on track to become the third-largest media and entertainment market by 2028, duly reflecting the amount of content being produced and consumed in this country,” Vaz said.
