Global Entertainment & Media Market Is Expected To Accumulate A Value Of US$ 6,056.3 Billion By 2032 Registering A CAGR of 9.1% During 2023-2032: MRFR Study

Market Research Future Insights

According to MRFR analysis, the “global entertainment and media market” Size was valued at USD 2,580.0 billion in 2022. The Entertainment and Media market industry is projected to grow from USD 2,763.4 Billion in 2023 to USD 6,056.3 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.1% during the forecast period (2023 – 2032). Entertainment and Media Market Research Report Information By Type (Books & Magazines, Films, Social Media, Music & Theater, Animation, Gaming & Gambling, Outdoor Advertising, Radio Broadcasting, Amusement Park/Facilities, Sports, Toys, and Art), Application (Wired and Wireless), And By Region (North America, Europe, Asia-Pacific, And Rest Of The World) –Market Forecast Till 2032

Market Segmentation

The Global entertainment and media market has been segmented into based on type and application.

Based on Type: Books & Magazines, Films, Social Media, Music & Theater, Animation, Gaming & Gambling, Outdoor Advertising, Radio Broadcasting, Amusement Park/Facilities, Sports, Toys and Art

Based on Application: Wired and Wireless

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The shift to remote work and increased time spent at home also led to changes in consumer behavior, with an increase in demand for streaming services and online content. This has resulted in a significant boost for companies that specialize in digital media, such as Netflix and Amazon Prime Video.

Regional Analysis

Regionally, the impact of COVID-19 on the entertainment and media market has varied. The North American market, which is the largest market in terms of revenue, was hit hard by the pandemic due to the closure of theaters and theme parks. However, the increase in demand for streaming services has helped to mitigate the losses.

In contrast, the Asia Pacific market has experienced growth despite the pandemic, driven by the increased adoption of digital media and the growth of the gaming industry. The Middle East and Africa market has also shown resilience, with the expansion of mobile networks and increased access to online content driving growth in the region.

The entertainment and media market refers to the industry that creates, produces, and distributes content for various forms of entertainment and media consumption, including television, film, music, publishing, video games, and digital media.

COVID-19 has had a significant impact on the entertainment and media market, causing disruptions in the production and distribution of content, as well as changes in consumer behavior. Many theaters, theme parks, and other entertainment venues were forced to close or limit capacity due to the pandemic, resulting in revenue losses for companies in the industry.

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Key players

Some of the top key market players are:

• News Corporation (US)
• Advance (US)
• iHeartMedia Inc. (US)
• Discovery Inc. (US)
• Warner Media LLC. (US)
• Verizon Communications Inc. (US)
• Alphabet Inc. (US)
• The Walt Disney Company (US)
• Baidu Inc. (China)

Here are some recent updates and trends in the entertainment & media industry:

Streaming continues to dominate: The rise of streaming services like Netflix, Hulu, and Amazon Prime has disrupted the traditional entertainment industry and continues to change the way content is produced and distributed. Moving forward, streaming video is expected to remain a dominant force.

Investment in original content: As the demand for quality content grows, companies are increasing their investment in creating original content. Streaming platforms in particular are investing heavily in creating their own original series and movies.

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Augmented reality and virtual reality: The use of augmented reality (AR) and virtual reality (VR) technologies is also becoming more prevalent in the entertainment industry. This allows for more immersive experiences for viewers and opens up new possibilities for storytelling.

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