At the launch of the FICCI–EY Media & Entertainment Report 2026, Kevin Vaz addressed industry leaders, creators, and stakeholders, highlighting the evolving dynamics of India’s media and entertainment ecosystem.
Welcoming distinguished guests including Paul J. Foster, Ashish Kulkarni, and Ashish Pherwani, Vaz set the tone for a discussion centred on industry transformation and collaboration. He emphasised that gatherings of creators, platforms, and advertisers foster meaningful dialogue and innovation.
Speaking on the significance of the report by FICCI and EY, Vaz described it as a key benchmark for understanding the sector’s current position and future direction.
Reflecting on the past year, he characterised 2025 through three defining themes—scale, convergence, and transformation. The industry reached a valuation of INR 2.78 trillion, surpassing economic growth benchmarks and signalling strong underlying momentum.
Vaz noted that the real shift lies not just in growth figures but in how the industry is evolving. Digital platforms have emerged as the dominant force across advertising, subscriptions, and commerce, reshaping monetisation and audience engagement models.
However, he highlighted that traditional and emerging formats are coexisting rather than replacing one another. India is increasingly becoming a multi-screen or “AND” market, where connected TV, linear television, mobile, films, and print are all growing simultaneously. He also pointed to the rise of AVGC (Animation, Visual Effects, Gaming, and Comics) as a significant driver of innovation and global opportunity.
Sports, according to Vaz, continues to play a central role in uniting audiences in an increasingly fragmented media landscape. He remarked, “Sports don’t fragment audiences. They unite them—just on different screens.”
He further added, “Sports isn’t just content, it’s the heartbeat of shared experience in Indian media.”
Highlighting the scale of engagement, Vaz referenced the ICC Men’s T20 World Cup 2026, where JioHotstar recorded 72.5 million concurrent streams during the final—setting a global benchmark for digital viewership.
Beyond sports, he pointed to the strong performance of cinema, with over 1,900 releases and several films crossing INR 1 billion in revenue, including titles like Dhurandhar. Live entertainment, too, is expanding rapidly, offering more immersive experiences.
Addressing the role of technology, Vaz identified Artificial Intelligence as a transformative force across the industry. From personalisation to production efficiency, AI is redefining creative processes. He cited examples like Mahabharat: Ek Dharmayudh, highlighting how AI can enhance storytelling rather than replace it.
He also acknowledged the ongoing global debate around AI and copyright, stressing the need for fair compensation frameworks for creators.
Looking ahead, Vaz underscored that India is emerging as a global model for balancing scale, diversity, and innovation. He projected the industry to surpass INR 3 trillion by 2027, while emphasising the responsibility that comes with such growth.
He concluded by noting that the media and entertainment sector plays a crucial role in shaping culture, influencing public discourse, and bringing audiences together across platforms
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