Overview and Scope
Film refers to a motion image, a movie, or a collection of still images on film that are quickly displayed on a screen using light. Music refers to a pattern of sounds produced by musical instruments, voices, computers, or a mix of these, and is meant to be enjoyed by those who hear it.
Sizing and Forecast
The film and music market size has grown strongly in recent years. It will grow from $341.06 billion in 2023 to $363.76 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to growth in distribution channels, piracy and copyright issues, cultural trends, globalization, economic factors, emergence of new genres and formats.
The film and music market size is expected to see strong growth in the next few years. It will grow to $469.7 billion in 2028 at a compound annual growth rate (CAGR) of 6.6%. The growth in the forecast period can be attributed to streaming services dominance, data-driven content creation, live events and experiences, global collaboration and co-production, sustainability initiatives. Major trends in the forecast period include immersive technologies, technological advancements in production, blockchain for royalties, emergence of virtual concerts and film premieres, rise of nfts in the creative industry.
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Segmentation & Regional Insights
The film and music market covered in this report is segmented –
1) By Type: Music Recording, Film And Video
2) By Genre: Action, Horror, Comedy, Documentary, Drama, Other Genres
3) By End User: Individual Users, Commercial Users, Other End Users
Subsegments Covered: Record Production, Music Publishers, Record Distribution, Sound Recording Studios, Film And Video Production, Film And Video Distribution, Post-Production Services, Film And Video Theatres, Other Film And Video Industries
North America was the largest region in the film and music market in 2023. Western Europe was the second-largest region in the film and music market. The regions covered in the film and music 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
The penetration of newer distribution platforms such as internet protocol television (IPTV) and Direct-to-home (DTH) and online platforms such as YouTube, Vimeo is driving the growth of the film and music market. Digitization of TV platforms is paving the way for better sound and picture quality for viewers and increased revenues for stakeholders in the value chain. This is also resulting in more bandwidth for broadcasters to provide value-added services, thereby boosting revenues. Digital production techniques in films have reduced processing and storage costs. Digital distribution and exhibition have led to enhanced picture quality and shortened release window. These factors are expected to positively impact the growth of the market during the forecast period.
Key Industry Players
Major companies operating in the film and music market report are Sumitomo Electric Industries Ltd., 3M Company, Fiberhome Telecommunication Technologies Co. Ltd., Hengtong Group, Aptiv plc, Prysmian Group, TE Connectivity Ltd., Corning Inc., Molex LLC, Amphenol Corporation, CommScope Inc., Nexans SA, Fujikura Ltd., Yangtze Optical Fibre and Cable Joint Stock Limited Company, Leoni AG, Finisar Corporation, Coherent Inc., Belden Inc., Sterlite Technologies Ltd., AFL Communications LLC, Radiall Pvt. Ltd., LS Group, HUBER + SUHNER, OFS Fitel LLC, The Siemon Company, EXFO Inc., EMCORE Corporation, Hitachi Cable America Inc., Optical Cable Corporation, General Cable Corporation, Furukawa Electric Co. Ltd, Shenzhen HTGD Intelligent Equipment Co. Ltd.
The film and music market report table of contents includes:
1. Executive Summary
2. Film And Music Market Characteristics
3. Film And Music Product/Service Analysis -Product/Service Examples
4. Film And Music Market Trends And Strategies
5. Film And Music Market – Macro Economic Scenario
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68. Global Film And Music Market Competitive Benchmarking
69. Global Film And Music Market Competitive Dashboard
70. Key Mergers And Acquisitions In The Film And Music Market
71. Film And Music Market Future Outlook and Potential Analysis
72. Appendix
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