The Indian media and entertainment industry grew 8% in 2023 to reach a value of $27.9 billion, according to the annual EY report released during the ongoing Frames conference in Mumbai. The growth was 21% above its pre-pandemic levels in 2019. Digital media remained the single largest component of the sector, with a valuation of $8.3 billion, it shrank 2% from 2022 levels due to advertising declining by 6.5% thanks to a slowdown in gaming and direct-to-consum