India a bright spot in bleak global outlook for entertainment & media: PwC

It is the best of times and the worst of times. The total global entertainment & media (E&M) revenue rose 5.4 per cent year-on-year in 2022 to $2.32 trillion. It represents a sharp fall from the 10.6 per cent growth rate in 2021. And in each of the next five years, the rate of growth will decline sequentially, so that by 2027 revenue will grow just 2.8 per cent from 2026.

That is the big takeaway from PwC’s annual Global Entertainment and Media Outlook (2023-27).

The causes are myriad. Many segments, like podcasts, that saw a surge in revenue and audiences are now settling down to steadier growth.