Market Size of Media & Entertainment Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR (2024 - 2029) | 7.80 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Media and Entertainment Market Analysis
The Media & Entertainment Market is expected to register a CAGR of 7.80% during the forecast period.
The market size was estimated at USD 27.72 billion in the current year and it is expected to reach USD 40.36 billion in five years.
Rapid technological developments have transformed the media and entertainment industry and its integration of new disruptors, leading to profitable growth in all sectors.
- Social media impacts the industry, and traditional sector players are shifting to electronic platforms, driving their ad spending in this field. Digital technologies and platforms have significantly benefited the sector in facilitating the effective creation, distribution, and consumption of content, revolutionizing market growth.
- There have been several significant changes in the media landscape. The media environment and consumption have rapidly changed with the rapid development of information technologies and new communication devices. A significant shift in content supply has occurred in the media worldwide. It is not just that the content and media channels have evolved but have also changed their nature.
- Also, smartphone penetration, low data tariff, and investments in original and regional digital content are favorable factors for digital access and content supply, respectively, for driving online consumption across the media & entertainment industry.
- However, several countries have been called upon to take action against these acts and to introduce various legislation aimed at combating infringements of intellectual property rights, protection of copyrighted material, blocking unlawful websites as well as all forms of illicit cyber activity given the emergence of differing pirated content on several media outlets.
- Businesses are suffering significantly from an increased spread of COVID-19 throughout the regions. Several initiatives are being launched by some players in the region aimed at mitigating this situation, which will lead to a positive impact on the media and entertainment market.
