M&E sector likely to log 12-14% revenue growth in FY24, says Crisil

FY23 revenue growth likely at 16 per cent, ratings agency says

The Indian media and entertainment (M&E) industry may report a 12-14 per cent year-on-year growth in revenue for the financial year ended March 31,2024 (FY24) to Rs 1.6 trillion, lower than the 16 per cent revenue growth likely in FY23, ratings agency Crisil said on Monday.

Advertisement revenue, which accounts for 55 per cent of the sector’s overall revenue, will grow 14 per cent in FY24, thanks to the general elections in 2024. This is likely to trigger an increase in ad spends in the last quarter of FY24, Crisil said, which will have a positive rub-off on ad revenue