The film sector directs employment to the tune of 8.2 lakh and indirect jobs to 26.4 lakh in FY24. The industry is estimated to produce 9.3 lakh direct and 30 lakh indirect jobs by FY29.
India’s film, television, and online video services industry contributed a staggering ₹5.14 lakh crore (USD 61.2 billion) to the economy in 2024, according to a new report released by the Motion Picture Association (MPA) in collaboration with Deloitte. The findings were unveiled at the inaugural World Audio Visual Entertainment Summit (WAVES) held in Mumbai.
Strong Economic and Employment Impact
The screen sector generated a direct gross output of ₹1.41 lakh crore (USD 16.8 billion) last year. It also played a vital role in employment creation:
- 8.2 lakh direct jobs
- 26.4 lakh indirect jobs
The report projects these numbers will increase to 9.3 lakh direct and 30 lakh indirect jobs by FY29, highlighting the sector’s growing contribution to India’s employment landscape.
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Rapid Recovery and Growth Projections
Charles Rivkin, Chairman and CEO of the MPA, noted the industry’s resilience post-pandemic, saying it has responded well to growing demand for content across formats like films, drama, and sports.
Looking ahead, the report forecasts a Compound Annual Growth Rate (CAGR) of 6–7%, with combined industry revenues expected to reach ₹1.47 lakh crore (USD 17.5 billion) by FY29. With favorable regulatory policies, growth could accelerate to 9–10% CAGR, pushing revenues up to ₹1.65 lakh crore (USD 20 billion).
Gaming Market on a Steep Growth Path
India’s gaming market also saw significant growth, reaching ₹31,000 crore (USD 3.8 billion) in FY24. It’s projected to triple to ₹77,000 crore (USD 9.2 billion) in five years, growing at a 23% CAGR.
Gaming is increasingly becoming a monetization channel for film and series IPs. Titles like Baahubali have successfully expanded into the mobile gaming space.
Esports Riding the OTT Wave
The rise of Over-the-Top (OTT) and Online Curated Content (OCC) platforms has also propelled esports, with games like PUBG Mobile and Free Fire attracting massive viewership through platforms such as JioHotstar and YouTube. These events are now monetized through brand sponsorships and advertising, contributing further to the entertainment ecosystem.
