Global Media
& Entertainment market is anticipated to grow during the forecast period
due to emergence of digital behavior, increasing smartphone penetration, and
rise of user-generated content.
Global Media
& Entertainment Market Scope
The media and
entertainment market refers to the industry involved in the creation, production,
distribution, and consumption of various forms of media content. It encompasses
a wide range of sectors, including television, film, radio, music, publishing,
gaming, advertising, and digital media platforms.
Print media
refers to traditional forms of media that are published on paper and
distributed in physical formats. It includes newspapers, magazines, billboards,
and other printed materials used for advertising and communication purposes.
Digital media
refers to electronic forms of media that are created, distributed, and consumed
using digital technologies. It encompasses various platforms and formats,
including television, music and radio streaming, e-signage, and other digital
media channels.
Streaming media
refers to the delivery of digital content over the internet in real-time,
allowing users to access and consume audio and video content without the need
for downloading or storing the files locally. It has become increasingly
popular with the rise of broadband internet connections and the advancements in
digital technology. Two prominent forms of streaming media are OTT
(Over-The-Top) and livestreaming.
Global Media
& Entertainment Market Overview
The global
media & entertainment market has experienced significant growth in recent
years, driven by various factors. One key driver is the increasing demand for
digital content and the proliferation of digital platforms. The rise of
smartphones, high-speed internet connectivity, and the availability of
streaming services have transformed the way people consume media, leading to
the growth of digital media consumption.
Additionally,
the globalization of media content has expanded the market's reach and revenue
potential. Content can now be accessed and distributed globally, allowing for
cross-border collaborations, co-productions, and international distribution
deals. This globalization has also opened up opportunities for localized
content tailored to specific regional markets.
Furthermore,
advancements in technology, such as virtual reality (VR), augmented reality
(AR), artificial intelligence (AI), and blockchain, are shaping the future of
the media and entertainment industry. These technologies are revolutionizing
content creation, distribution, and user experiences, providing new avenues for
storytelling and audience engagement.
Global Media
& Entertainment Market Drivers
The global
media and entertainment market is influenced by several drivers that shape its
growth and evolution. Technological advancements play a significant role in
driving this industry forward. The rapid development of high-speed internet,
mobile devices, and digital platforms has revolutionized how content is
created, distributed, and consumed. The accessibility and convenience offered
by these technologies have led to the rise of streaming services, on-demand
content, and digital platforms, transforming the way audiences engage with
media. Moreover, emerging technologies like Artificial Intelligence (AI),
Virtual Reality (VR), and augmented reality (AR) have opened up new possibilities
for immersive and interactive experiences, creating novel avenues for content
creation and audience engagement.
Globalization
and market expansion also drive the media and entertainment industry. Content
can now be easily distributed and consumed across borders, facilitated by the
internet and digital platforms. Companies are expanding their reach globally,
targeting new markets and audiences. This expansion presents opportunities for
content creators and distributors to tap into diverse customer bases and
generate revenue from different regions. Additionally, cross-cultural exchange
and the adoption of local content in global markets contribute to the growth of
the industry.
Global Media
& Entertainment Market Trends
One of the
notable trends in the media industry that emerged during the global lockdown is
the increased demand for diverse, high-quality video content. As people found
themselves spending more time at home, they sought out various forms of
entertainment to keep themselves engaged. This shift in consumer behavior led
to a decline in pay-per-view TV subscriptions globally , while overall digital
video consumption witnessed a surge.
To meet the
growing demand for content, Over-the-Top (OTT) platforms, such as Hulu,
Netflix, and Amazon Prime, gained significant popularity. These platforms offer
a wide range of video choices and are compatible across multiple devices,
catering to the preferences of modern consumers who prefer to watch videos on
various platforms. This rise in OTT platforms has also resulted in increased
competition, often referred to as "streaming warfare," as companies
strive to capture a larger share of the digital video market.
Additionally,
the direct-to-consumer (D2C) marketing strategy has gained prominence in the
media and entertainment industry. D2C allows companies to promote and sell
their products and services directly to customers, enabling them to regain
control over their marketing efforts and sales strategies. In the context of video
streaming, D2C involves content creators and distributors bypassing traditional
distribution channels and delivering their content directly to consumers
through their own platforms or apps. This approach provides greater flexibility
and control over content delivery, customer engagement, and monetization.
Global Media
& Entertainment Market Challenges
The global
media and entertainment market faces several significant challenges that impact
its growth, profitability, and overall sustainability. One of the foremost
challenges is content piracy and copyright infringement. The easy accessibility
of digital content has led to widespread illegal downloading, streaming, and
sharing of copyrighted material, resulting in substantial revenue loss for
content creators and distributors. Fighting piracy through legal means and
implementing effective anti-piracy measures remains an ongoing battle for the
industry.
Another
challenge is the fragmented audience and changing viewing habits. With the
advent of numerous streaming services, digital platforms, and social media,
audiences have become fragmented across various platforms and devices. This
poses challenges for content creators and distributors in capturing and
retaining a large audience.
Recent
Developments
- In September
2022, Alliance Entertainment announced a partnership with MUBI, starting with
the distribution of feature films to premium film buyers in the US marketplace.
- In October
2022, Verbit recently introduced advanced automatic speech recognition (ASR)
and hybrid options, providing reliable, flexible, and highly accurate automatic
captioning solutions tailored for the media industry. These products are
designed to cater to the specific needs, demands, and expectations of
broadcasters, networks, and content creators worldwide.
- In April 2022,
HCL Technologies unveiled a media marketplace platform aimed at enhancing the
efficiency of content creation and distribution processes in the media
industry. Acting as a human-to-machine interface, this platform facilitates the
development of software-defined workflows and ensures the secure movement of
digital assets throughout the entire production cycle. It enables seamless
integration from studio or set to telcos, carriers, private data centers,
co-location providers, SaaS cloud-based tools, and hyperscale’s, streamlining
pre-production, production, and post-production activities.
- In October
2022, Eros International Media Ltd, a renowned Indian media and entertainment
company, has announced a partnership with the Ministry of Investment in the
Kingdom of Saudi Arabia (MISA) to explore investment opportunities and
undertake projects in the region. This collaboration was officially established
during the sixth edition of the Future Investment Initiative (FII) held in
Riyadh from October 25-27, 2022. The FII, organized by the FII Institute in
conjunction with the Public Investment Fund (PIF), brought together influential
CEOs, policymakers, investors, entrepreneurs, and young leaders to shape the
future of global investment and the world economy. The Ministry of Investment
served as a Vision Partner for the event, alongside other strategic partners
from around the world.
Global Media
& Entertainment Market Opportunities
Artificial
intelligence (AI) is a burgeoning opportunity in the media industry, impacting
various sectors such as TV, VFX, and radio. Entertainment organizations possess
a vast amount of unstructured digital data, which can be effectively organized
and analyzed using AI tools. Through AI, machine learning, and natural language
processing, organizations can predict user engagement with content.
Media &
Entertainment organizations have a wealth of unstructured user digital data at
their disposal. AI has introduced a human-like dimension to the process of
mining and analyzing this data, allowing for deeper insights. AI is
particularly effective in quickly estimating and retrieving emotional changes,
providing valuable information for understanding customer behavior and trends
in digital media consumption. This accurate data enables organizations to
deliver customized recommendations on how to improve content.
Streaming
applications are utilizing AI technologies and smart machine learning
algorithms to offer personalized videos, audio podcasts, and high-quality
streaming music to their audiences. By leveraging AI, these platforms can
predict user engagement, leading to enhanced monetization opportunities. For
example, Spotify utilizes various AI solutions to provide tailored music
recommendations that users are likely to enjoy. As Big Data continues to expand
and algorithms become more sophisticated, these recommendations will become
even more precise.
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Company
Profiles
DreamWorks
Animation LLC, Warner Media, LLC, The Walt Disney Company, Netflix, Inc., News
Corporation, The Bertelsmann SE & Co. KGaA, Gannett Co., Inc., Eros
International Media Ltd, Axel Springer SE, and Facebook, Inc. etc. are the
major players in the Global Media & Entertainment market.
Global Media
& Entertainment Market Segmentation
The Global
Media & Entertainment Market is segmented into type, region and competitive
landscape. Based on Type, the market is segmented into Print Media (Newspaper,
Magazine, Billboards, and Others), Digital Media (Television, Music &
Radio, E-Signage, and Others), Streaming Media (OTT and Livestream).
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Attribute
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Details
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Base
Year
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2022
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Historical
Years
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2018 –
2021
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Estimated
Year
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2023
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Forecast
Period
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2024 – 2028
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Quantitative
Units
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Revenue
in USD Billion and CAGR for 2018-2022 and 2023-2028
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Report
Coverage
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Revenue
forecast, company share, competitive landscape, growth factors, and trends
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Segments
Covered
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Type
Region
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Regional
Scope
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Asia-Pacific,
North America, Europe, Middle East & Africa, and South America
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Country
Scope
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China, India, Japan, South Korea, Australia, United States,
Canada, Mexico, Germany, France, United Kingdom, Italy, Spain, Saudi Arabia,
UAE, South Africa, Turkey, Brazil, Argentina, Colombia
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Key Companies Profiled
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DreamWorks Animation
LLC, Warner Media, LLC, The Walt Disney Company, Netflix, Inc., News
Corporation, The Bertelsmann SE & Co. KGaA, Gannett Co., Inc., Eros
International Media Ltd, Axel Springer SE, and Facebook, Inc. etc.
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Customization
Scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing
and Purchase Options
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Avail of customized
purchase options to meet your exact research needs. Explore purchase options
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Delivery
Format
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PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request)
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Report
Scope:
In this report,
the Global Media & Entertainment Market has been segmented into the
following categories, in addition to the industry trends which have also been
detailed below:
- Media & Entertainment
Market, By Type:
- Print Media
- Digital Media
- Streaming Media
- Media & Entertainment Market,
By Region:
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Australia
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- South America
- Brazil
- Argentina
- Colombia
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the Global Media & Entertainment
Market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
- Detailed analysis and profiling of
additional market players (up to five).
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& Entertainment Market is an upcoming report to be released soon. If you
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