Industry News
‘Indian OOH sector to grow by 9.9%’ – PwC Report
The report predicts India to outperform all markets in the Asia Pacific region
PwC, one of the world’s largest accounting firms, recently came out with the ‘Global Entertainment & Media Outlook 2023-2027’, an annual report providing a detailed analysis of entertainment, media consumption and advertising spending across 53 territories and 13 sectors. The report predicted that India’s entertainment and media sector would reach $73.6 billion at 9.48% CAGR.
As for India’s OOH sector, it said that the market is rapidly expanding with total revenue in 2022 being $681 million – a staggering increase of 63.4%. PwC predicts that this pace will be sustained in the coming years and with 9.9% CAGR, the Indian OOH sector is set outperform every other market in the Asia Pacific region in the forecast period.
The report also pointed that OOH currently has low penetration in India and there have been many roadblocks that have curbed its development rate.
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