Business News | Podcasts, Live Events Power India's Entertainment Surge to Global Top 5 by 2030: Deloitte

New Delhi [India], March 19 (ANI): India is on track to emerge as one of the top five global entertainment markets by 2030, while its podcast ecosystem is expected to grow multi-fold over the next three-to-five years, according to a report by Deloitte.

The report highlighted that India's entertainment sector is witnessing strong momentum, supported by rising consumer demand, digital adoption, and expanding revenue streams. Corporate sponsorships, which account for nearly 40 per cent of revenues, underline the sector's growing economic potential.

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It stated, "India is heading for a global top five entertainment position by 2030... India's podcast market will grow multifold over the next three-to-five years".

The report mentioned that in 2024, the live events segment added nearly Rs 13 billion in incremental revenue, driven by strong demand and improved monetisation beyond brand sponsorships.

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The report noted that premium ticketing, including VIP and luxury experiences, doubled year-on-year, reflecting increased audience spending and higher returns for promoters and investors.

This trend, coupled with the emergence of high-value customer segments, points to stronger profitability prospects for live-event investments. Concerts, in particular, are evolving into multi-billion-dollar economic engines, influencing allied sectors such as tourism, hospitality, taxes, and sustainability.

By 2030, India has the potential to become one of the top five live entertainment markets globally, alongside the US, the UK, South Korea, and the UAE.

The report added that with continued strategic investments, policy support, and infrastructural upgrades, India is well-positioned to become a leading global live entertainment destination.

On the digital front, Deloitte said India's podcast market is poised for significant expansion. The segment is expected to grow at a high double-digit CAGR over the next three-to-five years, driven by widespread smartphone usage, affordable data priced at around Rs 9 (USD 0.10), and evolving digital consumption habits.

Podcast consumption in India has doubled within a year, indicating a shift from experimentation to large-scale adoption.

The report noted that the country remains an underpenetrated but high-potential market, with adoption levels at 12 per cent compared to 47 per cent monthly usage in the US.

India's strong mobile-first ecosystem, with 1.2 billion mobile subscribers and 955 million wireless internet users, is further supporting this growth. Rising data consumption, particularly among 5G users who now consume about 40 GB per month compared to around 27.5 GB earlier, is also accelerating adoption.

The audience base for podcasts is projected to expand to 100-200 million listeners during 2024-2025, marking a transition from trial usage to routine and eventually becoming embedded in daily life across activities such as commutes, workouts, and downtime.

The report added that this growth will enable the development of regional language ecosystems, niche communities, new storytelling formats, and creator-led media models.

Deloitte noted that while India's podcast market is still in its early stages, it is now entering a scale phase where monetisation, localisation, and intellectual property creation are expected to accelerate. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)