India’s Entertainment and Media industry to hit $73.6 bn by 2027: PwC

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India's entertainment & media (E&M) industry is expected to grow at a compound annual growth rate (CAGR) of 9.48% to reach $73.6 billion by 2027, consultancy firm PwC said in its Global Entertainment and Media Outlook 2023-2027 on Tuesday. This comes after the total global E&M revenue of $2.32 trillion witnessed a sharp decline from a 10.6% growth rate in 2021 to 5.4% in 2022. This sluggish E&M growth comes on the back of a decline in consumer spending, the report explained, adding that 2022 marked an "important inflection point". “Macroeconomic challenges, increased industry competition, and a reduction in production...