India’s Media and Entertainment Industry Expands in High Single Digits, Says ZEE CEO Punit Goenka
India’s media and entertainment sector has entered a renewed growth phase, expanding in high single digits and outpacing nominal gross domestic product (GDP) per capita growth following two sluggish years, according to Punit Goenka, chief executive officer of Zee Entertainment Enterprises (ZEE).
What Happened
Addressing shareholders in ZEE’s FY26 annual report, Chief Executive Officer Punit Goenka reported that the domestic media and entertainment market has rebounded from a two-year lull. The ongoing expansion is primarily being driven by modern segments such as digital media, gaming, visual effects (VFX), and animation.
To leverage this momentum, Goenka outlined ZEE’s strategic pivot toward establishing a wider portfolio designed to capture a larger portion of the attention economy. The company is directing capital into emerging verticals, including micro dramas, programming for children, and live entertainment experiences.
As part of this transformation, ZEE has entered into a strategic collaboration with PhantomFX, an animation and VFX studio. This alliance aims to strengthen content development capabilities across mythology, fantasy, and children’s genres, allowing ZEE to build intellectual properties within the rapidly expanding animation space.
Concurrently, ZEE has expanded its presence in sports broadcasting by introducing four dedicated channels under the Unite8 Sports brand. Goenka noted that the broadcaster has secured broadcasting rights for major international football properties, including FIFA tournaments, the German Bundesliga, and Italy’s Serie A.
Key Highlights
- Industry Growth: The Indian media and entertainment sector is advancing in high single digits, growing faster than nominal GDP per capita after two years of weak performance.
- Growth Drivers: Rapid expansion is being led by digital media, gaming, visual effects, and animation.
- New Business Verticals: ZEE is investing in micro dramas, live entertainment, and children’s programming to build fresh revenue engines.
- PhantomFX Partnership: The tie-up focuses on developing intellectual property and rich visual content in mythology, fantasy, and kids’ entertainment.
- Sports Expansion: ZEE launched four sports networks under the Unite8 Sports umbrella and acquired broadcast rights for FIFA, Bundesliga, and Serie A.
Why This Matters
The rebound indicates strengthening economic activity across India’s content and entertainment landscape following an extended period of subdued performance. For legacy entertainment networks like ZEE, sustaining competitive relevance in the attention economy requires shifting focus beyond traditional television broadcasting toward digital entertainment, high-end animation, and live sports.
By securing marquee international sports rights and entering technical partnerships for VFX and animation, the company is attempting to build cross-synergies across diverse demographic segments, from children and fantasy enthusiasts to global sports fans.
What to Watch Next
Key areas to monitor include the rollout and audience reception of ZEE’s new offerings under the Unite8 Sports umbrella, particularly during major FIFA, Bundesliga, and Serie A broadcasts. Observers will also track the delivery of animated, mythological, and fantasy intellectual properties developed through the PhantomFX partnership, alongside ZEE’s performance in micro dramas and live events.
Frequently Asked Questions
What rate is India’s media and entertainment industry growing at?
According to ZEE CEO Punit Goenka, the sector is currently growing in high single digits and is outpacing the growth of nominal GDP per capita.
Which sectors are driving growth in the media and entertainment industry?
The expansion is primarily led by new-age segments, including digital media, gaming, visual effects (VFX), and animation.
What sports properties has ZEE acquired?
ZEE has acquired rights to major international football competitions, specifically FIFA events, the German Bundesliga, and the Italian Serie A, supporting its four Unite8 Sports channels.
Why did ZEE partner with PhantomFX?
ZEE partnered with animation and VFX studio PhantomFX to enhance its production capabilities and create intellectual properties in categories such as kids’ content, mythology, and fantasy.
Source: Business Standard