What Is The Projected Size and Growth for the Entertainment and Media Market?
The entertainment and media market has been witnessing considerable growth over the years. It is projected to escalate from $2671.36 billion in 2024 to $2871.79 billion in 2025, marking a compound annual growth rate (CAGR) of 7.5%. The exceptional progress in the historic period can be attributed to factors like the ubiquity of smartphones, the rising popularity of social media, the dominance of streaming services, content personalization, and globalization of content.
A robust increase in market size is anticipated in the years to come, reaching $3825.97 billion in 2029 at a CAGR of 7.4%. This burgeoning growth in the forecast period can be attributed to the uptake of subscription models, evolution of live events, growth of podcasting, interactive and immersive content, sustainability trends in entertainment, along with significant regulatory shifts. Technologies like blockchain in media, AI and machine learning, remote production technologies, augmented reality (AR) and virtual reality (VR), and the budding metaverse evolution are projected to be major trends in the forecast period.
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What Are The Key Drivers Propelling The Entertainment And Media Market?
The accelerating penetration of smartphones propels the growth of the entertainment and media market. Because of their portability and connectivity, smartphones have garnered widespread adoption, enabling users to access a myriad of information and entertainment anytime and anywhere. With increased smartphone penetration, we can expect the entertainment and media market to scale new heights. For instance, as per a UK-based statistics report, there were 71.8 million active mobile connections in 2022 which is expected to rise significantly, fueling the entertainment and media market growth.
What Are The Major Segments Of The Entertainment And Media Market?
The report organizes the entertainment and media market into the following segments:
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
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Who Are The Major Players In The Entertainment And Media Market?
Prominent players in the entertainment and media market include 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., 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.
What Are The Emerging Trends In The Entertainment And Media Market?
The integration of advanced technologies is an emerging trend gaining traction in the entertainment and media market. Key market players are focusing on incorporating these technologies to maintain their market positions. For instance, in April 2022, HCL Technologies, an India-based IT services company, rolled out an innovative All-Access Media Marketplace Platform to streamline the various stages of content development and delivery in the media and entertainment domain. This development showcases how technology is transforming the entertainment and media sector.
Which Region Will Have The Fastest Growth In The Entertainment And Media Market?
North America was the largest region in the entertainment and media market in 2024. The report also covers regions including Asia-Pacific, Western Europe, Eastern Europe, South America, Middle East, and Africa.
What Does The Entertainment And Media Market Report 2025 Offer?
Entertainment and media cover a wide array of industries engaged in various forms of entertainment and communication, including television, film, radio, music, publishing, advertising, and digital media that create, produce, and disseminate content to entertain and engage audiences on diverse platforms and channels. The Entertainment And Media Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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