India’s M&E sector grew 8% in 2023, driven largely by new media: TRAI

New Delhi: India’s media and entertainment (M&E) sector grew by over 8% in 2023, with nearly 70% of that growth fueled by the expansion of new media, according to the 2023-2024 annual report released by the Telecom Regulatory Authority of India (TRAI).

As per the report, the Indian TV industry reported revenues of Rs 69,600 crore in 2023, down 1.8% from Rs 70,900 crore in 2022. Subscription revenue rose from Rs 39,200 crore to Rs 39,900 crore, even as advertising revenue dropped from Rs 31,800 crore to Rs 29,700 crore during the same period.

As of March 31, 2024, the television universe included 62 million cable TV households, 61.97 million pay DTH subscribers, 2 million HITS subscribers, and 0.5 million IPTV subscribers. The sector had 922 private satellite TV channels run by 333 broadcasters, including 103 HD pay channels and 258 SD pay channels.

TRAI also reported the existence of 880 Multi System Operators (MSOs), one HITS operator, four pay DTH operators, and 33 IPTV operators. Additionally, 81,706 cable operators were registered across the country.

In radio, there were 388 private FM stations operational as of March-end 2024, besides All India Radio and 494 community radio stations. The private FM segment saw ad revenue grow from Rs 1,547.13 crore in 2022-23 to Rs 1,775.79 crore in 2023-24.

During FY 2023-24, TRAI made several key recommendations to the government, covering ease of doing business in telecom and broadcasting, DTH license fee structures, and issues surrounding FM radio and low-power FM broadcasting.

In efforts to enhance regulatory compliance, TRAI conducted 820 audits of Digital Addressable Systems (DAS)—433 through Distribution Platform Operators and 387 through broadcasters—via its empanelled auditors and Broadcast Engineering Consultants India Limited (BECIL).