rfc logo transparent

Media & Entertainment - Industry - Global Market, Share and Trends 2023-2028

Report ID:

MEIND1G

|

Industry:

Summary of Media & Entertainment

The global media and entertainment industry generated revenues of $2 trillion in 2022, according to recent analysis. This represents an 11.4% year-over-year growth rate. Based on our estimates, we can say that the global Media and Entertainment industry is forecasted to be a $3448.98 billion industry in 2029 from $2200 in 2023 with a CAGR of 7.51%.

In 2022, the United States media and entertainment market valued at $796 billion. Digital media now accounts for over 50% of total revenues, with video games, online video and streaming music driving growth. Traditional segments like TV, film and print are gradually transitioning their businesses to digital platforms and models.

As digital technologies have evolved, portions of industries like television, film, print publishing, and radio broadcasting have gradually transitioned their businesses to digital models. For example, while television viewing still largely occurs through traditional cable, satellite, and broadcast means, many networks and studios also offer extensive libraries of shows and movies through subscription video on demand services that they provide. Print publishers supplement physical magazine and newspaper sales with digital editions that they make accessible on mobile devices and computers.

Recent Trends and Insights

During the pandemic in 2020, streaming hours on Netflix increased by 50% as people spent more time at home. Disney+ surpassed– 100 million subscribers within 16 months of launch, far exceeding expectations

Global esports revenues reached –$1.1 billion in 2021, a 15.7% increase from 2020, according to a gaming analytics report. Twitch saw 31% year-over-year growth in hours watched in 2020, reaching over 5 billion hours.

TikTok surpassed 1 billion monthly active users globally in September 2021, just 3 years after launching internationally. YouTube Shorts, launched in 2020, now reaches over –1.5 billion logged-in users monthly.

The global VR/AR market is expected to grow from $12 billion in 2020 to $72.8 billion by 2027, according to Research. Facebook invested over–$10 billion in its Reality Labs segment in 2021 to develop the metaverse.

Product Insights

Pay TV continues to be the largest segment, generating — $270 billion globally in 2021. However, younger consumers are increasingly cutting the cord.

Subscription video-on-demand (SVOD) services like Netflix, Hulu and Disney+ actively grew their revenues by 22% in 2021 to $121 billion. Projections show that by 2026, SVOD revenues will actively reach — $182 billion.

Online video advertising actively grew its revenues by 40% to $160 billion in 2021. The growth is being driven by connected TVs, which actively allow for more targeted and engaging ad formats.

Mobile gaming actively surpassed console and PC gaming revenues for the first time in 2020, reaching– $90 billion globally. In 2021, mobile gaming revenues actively grew 12% to $101 billion.

Key Companies

Some major players within this vast domain of industry are

  • Disney
  • Comcast/NBCUniversal
  • WarnerMedia
  • ViacomCBS
  • Sony
  • AT&T
  • Discovery
  • Netflix
  • Amazon
  • Apple

Regional Analysis

North America actively remains the largest market — $424 billion in 2021, driven by strong active growth in digital segments.

Europe is actively the second largest region — $337 billion, with Western Europe leading in streaming adoption.

Asia-Pacific is actively growing the fastest at a 9.5% CAGR, led by China, India and Southeast Asia. Mobile gaming and online video are especially popular.

Latin America is seeing increasing digital penetration, while the Middle East and Africa offer opportunities in developing markets.

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

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Our Methodology

We have offered a well-founded review of the 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.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Global Size of the Media & Entertainment Industry is USD 2200 Billion in 2023 and is expected to grow to USD 3448.98 Billion by 2029

The CAGR of the Media & Entertainment Industry Market in the Global Region is 7.51%

The APAC region accounts for 36% of the total market share of the Media & Entertainment Industry Market

The key players in the Media & Entertainment Industry Market in the Global Region are DreamWorks Animation SKG., Warner Media LLC., Walt Disney Company, News Corporation and Discovery Communications Inc.. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Media & Entertainment Industry Market in the Global Region are Content creation, Distribution, Consumption, Advertising and Monetization. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Summary of Media & Entertainment

The global media and entertainment industry generated revenues of $2 trillion in 2022, according to recent analysis. This represents an 11.4% year-over-year growth rate. Based on our estimates, we can say that the global Media and Entertainment industry is forecasted to be a $3448.98 billion industry in 2029 from $2200 in 2023 with a CAGR of 7.51%.

In 2022, the United States media and entertainment market valued at $796 billion. Digital media now accounts for over 50% of total revenues, with video games, online video and streaming music driving growth. Traditional segments like TV, film and print are gradually transitioning their businesses to digital platforms and models.

As digital technologies have evolved, portions of industries like television, film, print publishing, and radio broadcasting have gradually transitioned their businesses to digital models. For example, while television viewing still largely occurs through traditional cable, satellite, and broadcast means, many networks and studios also offer extensive libraries of shows and movies through subscription video on demand services that they provide. Print publishers supplement physical magazine and newspaper sales with digital editions that they make accessible on mobile devices and computers.

Recent Trends and Insights

During the pandemic in 2020, streaming hours on Netflix increased by 50% as people spent more time at home. Disney+ surpassed– 100 million subscribers within 16 months of launch, far exceeding expectations

Global esports revenues reached –$1.1 billion in 2021, a 15.7% increase from 2020, according to a gaming analytics report. Twitch saw 31% year-over-year growth in hours watched in 2020, reaching over 5 billion hours.

TikTok surpassed 1 billion monthly active users globally in September 2021, just 3 years after launching internationally. YouTube Shorts, launched in 2020, now reaches over –1.5 billion logged-in users monthly.

The global VR/AR market is expected to grow from $12 billion in 2020 to $72.8 billion by 2027, according to Research. Facebook invested over–$10 billion in its Reality Labs segment in 2021 to develop the metaverse.

Product Insights

Pay TV continues to be the largest segment, generating — $270 billion globally in 2021. However, younger consumers are increasingly cutting the cord.

Subscription video-on-demand (SVOD) services like Netflix, Hulu and Disney+ actively grew their revenues by 22% in 2021 to $121 billion. Projections show that by 2026, SVOD revenues will actively reach — $182 billion.

Online video advertising actively grew its revenues by 40% to $160 billion in 2021. The growth is being driven by connected TVs, which actively allow for more targeted and engaging ad formats.

Mobile gaming actively surpassed console and PC gaming revenues for the first time in 2020, reaching– $90 billion globally. In 2021, mobile gaming revenues actively grew 12% to $101 billion.

Key Companies

Some major players within this vast domain of industry are

  • Disney
  • Comcast/NBCUniversal
  • WarnerMedia
  • ViacomCBS
  • Sony
  • AT&T
  • Discovery
  • Netflix
  • Amazon
  • Apple

Regional Analysis

North America actively remains the largest market — $424 billion in 2021, driven by strong active growth in digital segments.

Europe is actively the second largest region — $337 billion, with Western Europe leading in streaming adoption.

Asia-Pacific is actively growing the fastest at a 9.5% CAGR, led by China, India and Southeast Asia. Mobile gaming and online video are especially popular.

Latin America is seeing increasing digital penetration, while the Middle East and Africa offer opportunities in developing markets.

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

By Enterprise Size:

  • Large Industries
  • Small & Medium Industries

By Region:

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Our Methodology

We have offered a well-founded review of the 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.

We value your investment and offer free customization with every report to fulfil your research needs.

Frequently Asked Questions

The Global Size of the Media & Entertainment Industry is USD 2200 Billion in 2023 and is expected to grow to USD 3448.98 Billion by 2029

The CAGR of the Media & Entertainment Industry Market in the Global Region is 7.51%

The APAC region accounts for 36% of the total market share of the Media & Entertainment Industry Market

The key players in the Media & Entertainment Industry Market in the Global Region are DreamWorks Animation SKG., Warner Media LLC., Walt Disney Company, News Corporation and Discovery Communications Inc.. These industry leaders collectively contribute to shaping the landscape of this market and driving growth within the industry.

The factors driving the Media & Entertainment Industry Market in the Global Region are Content creation, Distribution, Consumption, Advertising and Monetization. These factors contribute to the overall growth of this industry, establishing it as a key player in the interconnected global economy.

Jump to Content

GET A FREE SAMPLE

This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.

Or view our licence options:

Ready to get started? Lets get on a Call to discuss your Project

Scroll to Top

REQUEST TOC

rfc logo transparent
Search

About Ruskin Felix Consulting LLC

Industries

Understand multiple industries at a glance, which encompasses change as its core attribute.

Services

RFC helps clients generate long-term value for all stakeholders. We help clients transform, grow, and operate while fostering trust through assurance with our services and solutions, which are made possible by data and technology.

Sustainability

We balance ESG and risk mitigation in our professional services. Our consulting experts make sustainability a business priority with vision and pragmatism.

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.

About Ruskin Felix Consulting LLC

Stay In Touch

Get in touch with our team for customizable services!

rfc logo transparent

Featured Reports

Understand the macroeconomic situations that affect the global positioning of countries.

Businesses can better understand how chatbots can advocate their vision.

DeFi helps reduce dependency on traditional methods of transactions.

Creating a sustainable environment for driving multiple countries into a better tomorrow.

Understand how the U.S. discrepancy in accordance to their debt creates a havoc. 

Sustainable blockchain technology has immense benefit for the environment which cannot go unnoticed.