MUMBAI: The growth of the film, TV and Online Curated Content (OCC) industry unlocks adjacent growth in various sectors of the economy. It has a multiplier effect across allied sectors, including tourism, gaming, merchandise, animation and VFX, live events and AdTech.
A new report by the Motion Picture Association (MPA) in collaboration with Deloitte was launched at the inaugural World Audio Visual Entertainment Summit (WAVES) in Mumbai.
Tourism: In previous editions, the report analysed films’ impact on global tourism. In this report, we look at its impact at home. In 2024, with content from various regions in India gaining pan-Indian audiences, there has been a notable rise in domestic tourism to locations featured in these films and series.
In FY2024, over 50 percent of India’s top 10 grossing films were from the South.[2] South Indian actors are increasingly crossing over into Bollywood, and vice versa. This has also translated into benefits for industries beyond cinema. ‘Manjummel Boys’ invigorated
tourism in Kodaikanal, especially to the iconic Guna caves.
The ‘Stree’ film series, including ‘Stree 2’, has transformed Chanderi into a popular tourist destination, with fans eager to experience the town’s captivating landscapes and cultural heritage. Cinema from all over India has acted not just as a cultural bridge in India but has also generated economic benefits for several allied sectors.
In February 2025, Mumbai hosted the 7th Global Film Tourism Conclave, ‘Reel to Real: Redefining Destinations’, organised by the PHDCCI Tourism Committee. The conclave highlighted cinema’s influence on travel decisions, emphasising how on-screen destinations drive tourism.
Gaming: India’s gaming market reached INR 31,000 crore ($ 3.8 billion) in FY2024 and is projected to triple to Rs. 77,000 crore (US$ 9.2 billion) in the next five years at a CAGR of 23 percent. In recent years, an OCC services major has ventured into the gaming space, even acquiring gaming studios worldwide. Additionally, games have been a common avenue for film/series IP monetisation and have now started seeing traction in India as well, with films such as Baahubali spinning off into mobile games.
Esports have also benefited from the flourishing of OCC services, with tournaments such as PUBG Mobile and Free Fire being streamed live on Disney + Hotstar (now JioHotstar) and YouTube, allowing these gaming events to expand viewership and generate greater revenues through brand sponsorship and advertising.
Animation and VFX: India’s Animation and VFX (AVFX) segment is expected to surge from Rs. 11,000 crore ($ 1.3 billion) in 2023 to Rs. 18,000 crore (US$ 2.2 billion) by 2026. India was a key VFX partner for global films such as ‘Avatar: The Way of Water’ and ‘Interstellar’, with studios such as DNEG, Assemblage Entertainment, Studio Eeksaurus, and PhantomFX and continues to collaborate with film studios worldwide.
Animated IPs such as ‘Mighty Little Bheem’ and ‘Hanuman: The Legend’ have seen domestic and international success, with ‘Baahubali: Crown of Blood’ attracting 16 million views on OCC services in 2024. Domestic films such as ‘Brahmastra’ and ‘Kalki 2898 AD’ also show increased investment in VFX, with almost 40 percent of their budget dedicated to special effects. As the Indian film sector evolves towards higher production quality and special effectsbased films, the AVFX sector is expected to experience more growth.
Merchandise: The film, TV and OCC industry has boosted India’s merchandise market by expanding audience reach and engagement with content from around the world, especially among the adult demographic with the propensity to pay for merchandise.
Licensed merchandise in India now includes apparel, accessories and home décor, with brands such as The Souled Store and Redwolf offering items from franchises such as Marvel and Baahubali. Celio India has partnered with anime studios for IPs such as Naruto, Attack on Titan and Pokémon, with the Naruto collection being sold out in 10 days at a Celio store in a major Indian city. NautankiShaala, a merchandise brand that started in 2019, has seen a 4X growth in sales since its launch.
Live Events: The integration of films, OCC and music has boosted India’s live music events segment. In 2023, India hosted over 26,000 live events, with the ticketing market reaching Rs. 15,347 crore ($ 1.8 billion). The music events segment alone is valued at INR 1,864 crore ($ 223 million) and has grown 20 percent annually since 2017. India ranks seventh globally in total event ticket revenue, with music events generating a higher Average Revenue Per User (ARPU) of Rs. 700–800 compared to higher-end multiplex’s Rs. 300–400.
AdTech
Theatrical Advertising: Theatrical advertising in India has traditionally seen limited data-backing and advertising decisions have mainly been instinct-driven, resulting in unpredictable ad reach and impact for advertisers. With the advent of digital ticketing and cultural shifts in the sector, there is more transparency in ad reach attribution. Multiplex operators have also started to guarantee eyeballs to advertisers, ensuring a definitive return on ad spend (RoAS).
This reinvigorates advertiser sentiment for in-cinema advertising and unlocks value in the tech sector, with technology driving audience measurement. For instance, distribution market leader UFO Cinemaz has introduced a programmatic advertising offering, using audience data to predict footfall and match it with advertiser goals, ensuring measurable outcomes and
RoAS tracking.
Connected TV (CTV) advertising: CTV advertising involves displaying ads on internetenabled TVs, where users stream content through apps or devices. Affordable smart TVs and low-cost broadband have expanded the CTV audience, making it an attractive medium for advertisers.
Unlike traditional TV ads, CTV offers enhanced targetting using data on viewers’ habits, preferences and demographics, enabling more efficient ad spend and precise audience segmentation. In 2024, CTV ad spends surged from Rs. 450 crore in 2022 to INR 1,500 crore. CTV ads account for 1.5 percent of all digital ads in India, which is projected to grow to 7–8 percent in the near term, reflecting a 40 percent annual growth rate.
OCC services offer a variety of CTV ad formats, including pause ads, auto-expanding billboards, pre-rolls, midrolls and click-to-WhatsApp integrations. These formats target engaged audiences to boost brand visibility.
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