The Indian film, television and online video services industry in India is opening new dimensions in the country, as per a new report by the Motion Picture Association (MPA) in collaboration with Deloitte. As per IANS, the report, which was launched at the inaugural World Audio Visual Entertainment Summit (WAVES) in Mumbai, states that the sector has supported a total of 2.64 million jobs in India.

The Ministry of Information & Broadcasting, MPA, and JioStar launched the industry economic impact report. The report was also supported by the Federation of Indian Chambers of Commerce & Industry (FICCI), the Producers Guild of India (PGI), and Creative First.

MPA Chairman and CEO Charles Rivkin said, “India is a critical global market for MPA members, and its dynamic film, television, and streaming industry is a powerful driver of jobs, cultural influence, and the country’s overall creative economy.” Rivkin said.

He further mentioned, “Our members are proud to invest in developing local stories that reflect the unmatched imagination of creators from every corner of India and sharing them with international audiences. With the right policies and continued investment, India can build an even stronger production ecosystem – one that rewards creativity, fuels innovation, and cements India’s place as a global hub for media and entertainment”.

The MPA’s report estimates that the direct impact of gross output of the screen sector in 2024 equated to INR 1, 41, 000 crore indicating that the industry had weathered the challenges of the pandemic and responded quickly to growing audience demand for films, drama and sport, on big screens and small.

Crucially, the research finds that the local industry will grow at a Compound Annual Growth Rate (CAGR) of six to seven percent in the next four years. It also projects that, with effective regulatory levers in place, the industry may witness a higher growth trajectory of nine to ten percent CAGR.

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