Indian Media & Entertainment Sector Outlook in 2025

In 2024, the M&E industry experienced significant mergers, growth in regional content, and the expansion of streaming, yet faced challenges like talent shortages and rising competition. As we progress into 2025, the media and entertainment landscape remains in a constant state of flux. Competition continues to intensify. The industry is expected to keep evolving throughout 2025, with trends such as increased AI adoption, more tailored content, and the growth of niche streaming platforms. Business models and portfolios are shifting as the race to attract and monetize consumer engagement heats up across both digital and traditional spaces.

Amidst this landscape of unparalleled challenges and opportunities, here are five crucial M&E trends to watch for in 2025:

Lalatendu Das, CEO of Publicis Media, South Asia, stated last week that the synergies between TV and digital platforms within the merged entity are expected to create seamless cross-platform experiences for both advertisers and audiences.

LV Krishnan, CEO of TAM Media Research, anticipates further consolidation or potential collaborations within the M&E sector, as the unprecedented explosion of content, platforms, and devices has made it increasingly difficult for any one organization to manage and monetize all screens. When broadcast TV was the sole source of video, reaching audiences was simple. “As the number of platforms and screens multiply, finding an audience that meets your content, budget and revenue needs gets hard,” Krishnan said. A complex media landscape may encourage collaborations, he added.

Deepak Dhar, Founder and Group CEO of production company Banijay Asia, agreed that the future of M&E lies in engaging with multiple content types, platforms, and screens. His company produces shows for both streaming platforms and broadcast TV, but he is also keenly aware of the increasing popularity of short-form videos. “We’re now not just competing with different shows, slots or networks but with reels and YouTube shorts with people spending 30-40 minutes at a time watching them for free,” said Dhar. “It’s an opportunity for us to create shorter format dramas to engage with these millions,” he said. Upsurge in regional Language Content Consumption

Looking back at 2024, the year also witnessed the remarkable rise of regional language content. “Language markets will play a crucial role moving forward,” said Dhar, who produces the reality show "Bigg Boss" in Tamil, Telugu, Kannada, Malayalam, Marathi, Bangla, and Hindi. His MasterChef also has Tamil and Telugu versions, while he is considering producing Fear Factor and Temptation Island in languages beyond Hindi.

Mihir Shah, Vice President at research and insights firm Media Partners Asia (MPA), noted, however, that the M&E industry will be shaped by both consolidation and leadership changes at Viacom18-Disney, Sony, and Zee. “Market dynamics will be shaped by how this new leadership executes strategies focused on building scale, regaining lost ground, pivoting to new business models while maintaining cost efficiency,” he said. Positive Growth Trajectory in Streaming

As TV revenue growth slows, streaming will drive industry expansion, although traditional TV still remains a crucial source of profit, Shah said. “To scale and compete with global tech majors, broadcasters must invest in direct-to-consumer offerings while maintaining the profitability of legacy operations,” he added. Regarding streaming, MPA stated that the SVoD (subscription-led video-on-demand) market rebounded in 2024, reaching 125 million subscriptions after a small decline in 2023. Paid subscriptions are projected to more than double over the next five years, reaching 287 million by 2029, “fuelled by strong investments in local original programming and the introduction of low-cost, ad-supported tiers,” Shah said.

India's total video revenue, including both subscription and advertising for TV and streaming, is estimated at $11.7 billion for 2024, with projections reaching $12.5 billion in 2025. MPA forecasts total video revenues to hit $16 billion by 2029, growing at a 6.4% CAGR, with online video expected to reach $8.9 billion at a 15.6% CAGR.

MPA’s Shah anticipates rapid adoption of home broadband, which currently has just 13.5% household penetration. Telcos like Jio and Airtel are driving growth through 5G FWA (Fixed Wireless Access), offering affordable plans bundled with streaming services. (Fixed Wireless Access uses radio waves to deliver high-speed internet to homes and businesses.) MPA projects that FWA will reach 5 million subscribers by 2024. “With continued price subsidies, FWA is set for exponential growth, transforming how Indians watch television,” Shah said.

However, a significant talent shortage in the M&E sector could hinder its growth. “That’s really going to be a big challenge for the industry since we are making content for different devices, mediums, demographics and languages,” said Dhar.