Ernst & Young to launch "A Studio Called India":WAVES 2025
A new study called "A Studio Called India" will be released by Ernst & Young tomorrow at WAVES 2025 in Mumbai. The study highlights India's growing influence on the international media and entertainment (M&E) industry, driven by its growing digital economy, cultural diversity, and cutting-edge production infrastructure.
Some of the report's highlights are:
India's vibrant cultural diversity and strong infrastructure make it a creative hub.
The animation and VFX costs in India are 40% to 60% cheaper than elsewhere, backed by large pools of skilled professionals that enable global production workflows.
Indian content is increasingly popular outside India, with global OTT platforms reporting up to 25% of views from outside India.
The report seeks to highlight India's development and innovation in the M&E sector, placing the nation at the forefront of global content creation.
Highlights of the report are:
Digital Media Supremacy: Digital media outpaced television to become India's biggest M&E sector segment in 2024, with a contribution of more than ₹800 billion (US$9.4 billion) and a 32% share of sector revenues.
Content Production: India had generated approximately 200,000 hours of content during the last year, which consisted of 1,600 films, 2,600 hours of OTT content, and 20,000 original songs.
Technological innovation: AI and innovative technologies are revolutionizing India's content industry, with AI-powered platforms enhancing the quality and efficiency of content creation, enabling the quick production of professional-quality videos, images, text, and music.
Boon of Live Events: In 2024, India saw more than 30,000 live events, ranging from concerts by international artists such as Ed Sheeran and Coldplay. Ticketed events have increased fourfold in the past five years, a clear indication of increased demand for live entertainment.
Scaling Talent Pool: The M&E industry employs directly 2.8 million individuals, with another 10 million in indirect positions. India's cultural and linguistic diversity adds to its scalable talent strength, creating a rich content ecosystem.
