FDI in information and broadcasting sector surges 231% to Rs 3,745 crore in FY23

Foreign direct investment (FDI) in the information and broadcasting sector, including print media, surged 231% to Rs 3,745 crore in FY23 from Rs 1,129 crore in the previous fiscal, according to the Department for Promotion of Industry and Internal Trade (DPIIT).

FDI in the sector more than doubled to Rs 820 crore in the fourth quarter ended March from Rs 375 crore a year earlier.

On a sequential basis, investments by foreign investors dropped by 47% during the quarter against Rs 1,535.2 crore in the third quarter ended December 2022.


In the fourth quarter, film and advertisement sub-segments attracted Rs 811 crore in FDI, while radio broadcasting brought in Rs 9 crore.

Irelia Sports India, owner of Gujarat Titans franchise of Indian Premier League (IPL), got a fund infusion of Rs 540 crore from Irelia Company, which is owned by CVC Capital Partners, during the quarter.

Irelia had bid Rs 5,625 crore for acquiring the franchise rights for IPL’s Ahmedabad team.

While this investment doesn’t qualify under the government's definition of the I&B sector, it is part of the media and entertainment (M&E) ecosystem, which comprises films, TV, music, sports, print, radio, digital media, and gaming.

Walt Disney-owned Lucasfilm Entertainment Company infused Rs 160 crore into its India unit Lucasfilm Visual Effects India during the March quarter.

Amsterdam-based global digital agency Dept Holding paid Rs 159 crore to fully acquire Mumbai-based Tekno Point Multimedia India, a marketing agency that specialises in Adobe DX solutions. The deal marked the firm’s entry into India.

Ivy Entertainment Holdings, a company with B4U Network CEO Ishan Saksena as a director, has made an investment of Rs 48 crore in its Indian motion picture unit Ivy Entertainment.

Bengaluru-based media tech company Amagi Media Labs has received an investment of Rs 72.51 crore from General Atlantic Singapore.

In the third quarter of FY23, Amagi had secured FDI worth Rs 582.5 crore from the growth equity firm. In November, Amagi closed a $100-million investment deal with General Atlantic.

Japanese advertising giant Hakuhodo has invested Rs 35 crore to pick up 51% stake in Mumbai-based MA&TH Entertainment, which provides content creation services to film producers, studios, OTT platforms, broadcast companies, and international brands.

Except for Dept’s acquisition of Tekno Point, all the other investments have been made under the Reserve Bank of India’s automatic route.

Among other key investments in the wider M&E sector, Swedish gaming firm MTGx Gaming Holding AB has invested over Rs 350 crore to acquire shares in Indian game developer Playsimple Games. In 2021, MTG had acquired PlaySimple for $360 million.