Online video will overtake all other segments in the $17 billion screen entertainment market by 2029

The country's screen entertainment market is estimated to grow to $17 billion by 2029. It will be led by digital platforms and backed by TV and movies. In a joint report published by Media Partners Asia (MPA), IP House, and Confederation of Indian Industry i.e., CII, online video is estimated to contribute $8.6 billion and become the largest revenue-generating segment by 2029.

The report indicated that the TV segment's revenue will decrease but it is still going to be the second largest one with $6.8 billion. Films are expected to generate the amount of $1.9 billion, increasing gradually with the help of hybrid release patterns and the recovery of multiplex. These three formats collectively are evolving from traditional to digital and these upcoming hybrid, multi-screen formats are going to coexist in the future.

According to the report, by 2029, one out of every two dollars in India's screen economy's earnings will come from online video. It will surpass television and it will redefine the way stories are viewed in the country. The report estimates that total content investment will reach $7.5 billion by 2029. Spending on online video will be equal to television for the first time.

In 2019, online video investment was only 15 percent. By 2029, it will increase to 43 percent. That is, there will be a compound annual growth rate of 8.5 percent. TV's share has declined from 67 percent to 43 percent due to changes in consumer viewing behavior. India, one of Asia's largest video content markets, has already seen content investment reach $5.8 billion in 2024, nearly double from 2019.