FDI in I&B sector doubles in Q4 FY25, dips 14% annually

Foreign Direct Investment (FDI) in India’s Information and Broadcasting (I&B) sector surged in the final quarter of FY25, nearly doubling compared to the same period last year. However, on a full-year basis, FDI inflows into the sector declined by 14%, according to the latest data from the Department for Promotion of Industry and Internal Trade (DPIIT).

The sector attracted ₹1,221 crore in FDI during the January-March quarter, up from ₹621 crore in Q4 of FY24. For the full financial year, FDI dropped to ₹6,007 crore from ₹7,012 crore in the previous year.

India’s Information & Broadcasting (I&B) and Print Media sector attracted ₹5,408 crore in Foreign Direct Investment (FDI) equity inflows in 2024, according to the Ministry of Information and Broadcasting Statistical Handbook on Media & Entertainment Sector 2024-25 data released by the Department for Promotion of Industry and Internal Trade (DPIIT).

This marks a decline from the ₹7,211 crore recorded in 2023 but remains significantly above the pandemic-era lows of 2020 and 2021, signalling renewed global interest in India’s media and entertainment landscape.

One of the most significant fund infusions during the quarter came from Inshorts India Advertising and Services, which received ₹920 crore from its parent company under the Reserve Bank of India’s automatic route. The company, known for its online news aggregation platform InShorts, reported a net loss of ₹228 crore on an operating income of ₹181 crore in FY24.

Television production major Balaji Telefilms also saw notable foreign investment. The company secured over ₹40 crore in FDI from investors such as Gothic Corporation, The Duke Endowment, Gothic HSP Corporation, and the Employees Retirement Plan of Duke University. The funds were routed through the automatic approval mechanism.

Earlier, in December 2024, Balaji Telefilms had raised ₹131 crore via a preferential share issue. The round included investments from its promoter Ekta Kapoor and the aforementioned institutional investors.

Regional OTT player STAGE Technologies, which runs the STAGE platform, raised ₹5.5 crore in FDI from NB Ventures and Manoj Sadhuram Shivnani. The investment came ahead of a larger Series B round in March, where STAGE—backed by Olympic gold medallist Neeraj Chopra—closed a $12.5 million funding round led by Goodwater Capital and Blume Ventures, with participation from Physis Capital and angel investors.

In the sports and entertainment segment, Indian Super League (ISL) club Mumbai City FC, jointly owned by Bollywood actor Ranbir Kapoor and English Premier League giants Manchester City, received ₹140 crore in FDI. The investment came from City Football Group, a UK-based holding entity that owns Manchester City FC and is backed by Abu Dhabi United Group, Silver Lake (USA), and China-based firms China Media Capital and CITIC Capital.

The resurgence in 2024 of FDI was led by the radio broadcasting segment, which saw a sharp increase in FDI to ₹3,853 crore—its highest since 2016, when the segment had drawn ₹8,157 crore. The film and advertisement segment continued to be a strong contributor, attracting ₹1,555 crore in 2024. In contrast, electronic media and print media saw no reported inflows for the second consecutive year.

While the absolute inflow figures remain robust, the I&B and Print Media sector’s share in total FDI equity inflows across all sectors in India has declined. In 2024, the sector accounted for 1.22% of the overall ₹4,48,831 crore in FDI inflows. This is a drop from 2.11% in 2023, when the sector drew ₹7,211 crore against an overall FDI of ₹3,41,391 crore.