FDI in the sector more than doubled to ₹820 crore in the fourth quarter ended March from ₹375 crore a year earlier.
On a sequential basis, investments by foreign investors dropped by 47% during the quarter against ₹1,535.2 crore in the third quarter ended December 2022.
In the fourth quarter, film and advertisement sub-segments attracted ₹811 crore in FDI, while radio broadcasting brought in ₹9 crore.
Irelia Sports India, owner of Gujarat Titans franchise of Indian Premier League (IPL), got a fund infusion of ₹540 crore from Irelia Company, which is owned by CVC Capital Partners, during the quarter. Irelia had bid ₹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 ₹48 crore in its Indian motion picture unit Ivy Entertainment.
Bengaluru-based media tech company Amagi Media Labs has received an investment of ₹72.51 crore from General Atlantic Singapore.
In the third quarter of FY23, Amagi had secured FDI worth ₹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 ₹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.
