Overview and Scope
Entertainment and media refer to the broad range of industries encompassing various forms of communication and entertainment, including television, film, radio, music, publishing, advertising, and digital media. It creates, produces, and distributes content that informs, entertains, and engages audiences across various platforms and channels.
Sizing and Forecast
The entertainment and media market size has grown strongly in recent years. It will grow from $2507.25 billion in 2023 to $2706.24 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to smartphone adoption, social media influence, streaming services dominance, content personalization, globalization of content.
The entertainment and media market size is expected to see strong growth in the next few years. It will grow to $3545.76 billion in 2028 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to adoption of subscription models, live events evolution, podcasting growth, interactive and immersive content, sustainability in entertainment, regulatory changes. Major trends in the forecast period include blockchain in media, ai and machine learning integration, remote production technologies, augmented reality (ar) and virtual reality (vr), metaverse development.
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Segmentation & Regional Insights
The entertainment and media market covered in this report is segmented –
1) By Product: Film, Music, Social Media, Video And Animation, Video Games, Other Products
2) By Revenue Type: Advertisement Revenue, Subscription-Based Revenue, Other Revenues
3) By Application: Wire, Wireless, Other Applications
North America was the largest region in the entertainment and media market in 2023. The regions covered in the entertainment and media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Increasing penetration of smartphones is expected to propel the growth of the entertainment and media market going forward. Smartphones are portable electronic gadgets enabling users to browse the internet, send and receive texts, and call others. Due to their enhanced portability and connection, smartphones allow users to access information and entertainment practically wherever and anytime they choose, so the increasing penetration of smartphones will propel the growth of the entertainment and media market. For instance, according to a report published by Uswitch Limited, a UK-based online and telephone comparison and switching service, in 2022, 71.8 million mobile connections were active. There will be 68.3 million people living in the UK by 2025, and 95% will have smartphones. Moreover, in April 2022, according to Catch Connect, an Australia-based mobile plans provider, 79.60% of the total population in Australia used a smartphone. The number of smartphone users is predicted to reach 2.8 million by 2022. Therefore, the increasing penetration of smartphones is driving the growth of the entertainment and media market.
Key Industry Players
Major companies operating in the entertainment and media market report are Comcast Corporation, Grupo Televisa S.A.B., Vivendi SE, The New York Times Co., Viacom 18 Media Pvt. Ltd., The Walt Disney Company, Bertelsmann SE & Co. KGaA, Sun TV Network Limited, Dish TV India Limited, Zee Entertainment Enterprises Limited, Sony Group Corporation, Eros International, New Delhi Television Ltd., Priya Village Roadshow Cinemas, Reliance MediaWorks Ltd., News Corporation, Advance Publications Inc., iHeartMedia Inc., Discovery Inc., Warner Media LLC, Verizon Communications Inc., Alphabet Inc., Baidu Inc., Bilibili Inc., Lagardère SCA, Time Magazine Inc., Rolling Stone LLC, Billboard, Variety Ltd., The Hollywood Reporter
The entertainment and media market report table of contents includes:
1. Executive Summary
2. Entertainment And Media Market Characteristics
3. Entertainment And Media Market Trends And Strategies
4. Entertainment And Media Market – Macro Economic Scenario
5. Global Entertainment And Media Market Size and Growth
…
31. Global Entertainment And Media Market Competitive Benchmarking
32. Global Entertainment And Media Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Entertainment And Media Market
34.Entertainment And Media Market Future Outlook and Potential Analysis
35. Appendix
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