Media and Entertainment - Industry - Europe Market, Share and Trends 2023-2028

Summary of Media and Entertainment

The European media and entertainment industry was valued at over €350 billion in 2021, making it one of the largest regional markets globally. The industry is transforming with consolidation of media companies and entry of tech giants bringing new distribution models and monetization opportunities to European audiences.

Western European countries like the UK, Germany, France and Italy collectively account for over 60% of regional revenues. Eastern Europe is also a fast growing market. Traditional pay-TV remains an important segment in Europe and though subscription numbers are declining due to cord-cutting. Streaming video is rising rapidly, led by global platforms and local services.

Gaming, music and filmed entertainment also generate significant revenues across the region. Digital advertising is another fast growing segment— now accounting for over 40% of regional ad spend. Based upon our estimates, we project that the regional media and entertainment segment in Europe is forecasted to grow from $ 462 billion in 2023 to $ 636.59 billion in 2029 with a CAGR of 5.43 %.

Streaming video subscription revenues have grown over 20% annually across Europe led by Netflix, Amazon Prime Video, Disney+ and local services. While less pronounced than in North America, pay-TV losses have accelerated in Western Europe due to rising cord-cutting amidst availability of streaming alternatives.

Recent Trends and Insights

Our projections – based on current norms – poise U.K. to maintain its position as the leading entertainment and media market in Europe over the next few years – ahead of Germany and France – according to many industry norms and evaluations.

U.K. E&M revenue is expected to reach £58.14 billion ($74 billion) this year with growth forecast at a compound annual growth rate (CAGR) of 3.89 % over the next few years to generate revenue of £73.04 billion ($93 billion) overall by 2029. Our analysis leads us to predict that the next biggest European E&M markets – Germany, which is expected to reach $ 97.02 billion in 2023 and France, set to touch $ 60.06 billion in 2023 – will grow to $ 130.02 billion and $ 76 billion by 2029 respectively.

Mobile gaming drives significant revenues while esports is also growing rapidly across Europe both as a spectator and participation sport. Paid music streaming through platforms like Spotify, Apple Music, and YouTube Music now accounts for over 80% of European music revenues.

Advanced TV and digital video advertising is rising rapidly in Europe given improved targeting through connected TVs and BVOD platforms. Both global and local streaming platforms are investing heavily in European language content production to better serve local audiences.

Product Insights

Major publishers are Ubisoft, EA, Activision Blizzard, Nintendo, Bandai Namco. Mobile gaming drives significant monetization across the region. Leading platforms are: Spotify, Apple Music, Deezer, YouTube Music. Live music is also recovering strongly post-pandemic across Europe.

Google, Facebook dominate while regional players like: Axel Springer, Schibsted, and domestic broadcasters are growing their digital ad revenues. Europe remains a top film producer and the theatrical box office is recovering. SVOD platforms are premiering films as well.

Cinema will continue its post pandemic recovery growth over the next four years at 7 % CAGR with box office revenues expected to exceed pre-pandemic levels by 2025 at £1.3 billion.

The video games sector is gaining is lot of traction after the pandemic and is now emerging as one of the main media sectors— with revenues continuously growing, primarily driven by mobile games. This highlights that gaming technologies are increasingly being used in other industrial sectors. Games are becoming platforms to develop other activities such as: social interactions, concerts and shopping— are opening new grounds to exploit intellectual property rights. The use and deployment of new technologies call for new skills – for example – in virtual production.

Key Companies

Some major players within this vast domain of industry are

• Netflix
• Amazon Prime Video
• Disney+
• Sky in UK
• Canal+
• Bertelsmann SE & Co. KGaA
• Vivendi
• Lagardère
• Viacom
• Paramount Global
• Comcast
• Live Nation

Regional Analysis

The UK continues to be a leader in Europe for its strong creative industries and global export of TV/film content. However, the industry is facing uncertainties from Brexit. Germany is a major market for streaming, music and publishing. France and Italy also have well-developed media sectors with domestic streaming platforms complementing global services. Overall Western European markets are transforming to new streaming and digital advertising models.

Countries like: Sweden, Denmark and Finland have highly educated, tech-savvy populations that are early adopters of new media like streaming. However— piracy also remains an issue. Public service broadcasters in the region are global pioneers in on-demand and digital services. Norway in particular has strong revenues from music streaming exports.

Markets like Poland and Czech Republic have seen rapid growth in streaming video subscriptions, gaming, and digital advertising revenues as infrastructure and incomes improve. Local content production also receives government support. Russia is a large market but also faces geopolitical challenges. Overall— the region presents opportunities for global and local media platforms.

Market Segmentation

By Type:

• Film & Music
• TV & Video
• Publishing
• Radio
• Video Games

By End User:

• Residential: SVOD, Pay TV, Online Streaming
• Commercial: Digital Signage, Cinema Advertising
• Institutional: Academic Media, Corporate Communications

By Enterprise Size:

• Large Industries
• Small & Medium Industries

By Country:

• Germany
• United Kingdom
• France
• Italy
• Russia
• Netherlands
• Switzerland

Our Methodology

We have offered a well-founded review of the European regional media and entertainment Industry market along with ongoing trends and upcoming projections to highlight proximate investment opportunities in this report. Moreover, an extensive analysis of any future prospects, challenges, competitors, or navigating aspects is also provided. A methodical detailed regional examination is presented.

Primary Research  

Our multi-pronged research approach includes interviews with industry leaders and a global survey of advanced manufacturing professionals to gain qualitative insights. We utilize our proprietary databases encompassing key performance indicators worldwide in order to collate relevant data points. A multivariate forecasting framework considering historical performance, current dynamics and qualitative factors are utilized to develop market sizing and growth projections through 2029.

We supplement our primary research with a careful examination of secondary materials such as– case studies, news stories and references from other sources. Organizations can benefit from the strategic advice and conclusions offered because they will be better equipped to respond to the dynamic nature of this industry and seize emerging possibilities.

We employ a comprehensive and iterative research methodology focused on minimizing deviation to provide the most accurate market estimates. Our research utilizes a combination of bottom-up and top-down approaches across segments and utilizes databases, primary research insights and industry experts for analysis.

Raw data is obtained from multiple sources and thoroughly filtered to ensure only authenticated and validated sources are considered. We collect data from raw material suppliers, industry associations, technology providers, and buyers to gain a holistic perspective.

Quantitative Analysis

Our market estimates are derived through statistical models, beginning with collection of historical data and analysis of macro- and micro-economic factors influencing the market. Gathered information on market dynamics, technology and pricing trends are utilised to build the models.

Econometric and technological models are applied to project short- and long-term market potential respectively. A bottom-up approach is preferred to minimize errors. Key parameters considered include market drivers and restraints, material pricing trends, regulatory scenarios, and capacity additions.

Weights are assigned to these parameters based on impact analysis and market forecasting is performed via statistical tools and techniques. We believe this methodology results in an accurate and realistic market picture.