According to a recent market study published by Growth Market Reports, titled, “Global Entertainment Market by Type, By End User, By Application, By Sales Channel, and By Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at US$ 2,484.9 Billion in 2022 and is anticipated to expand at a growth rate of 9.9% by 2031.

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Entertainment is extremely important for people, as it facilitates relaxation and stress reduction that are key to preserving excellent mental health. Additionally, it’s an opportunity to socialize and get to know people, which fosters a sense of belonging and community. People discover new concepts, viewpoints, and cultures through entertainment, which broadens their horizons and increases their knowledge. Additionally, a lot of sectors rely on entertainment as a big source of revenue, which helps economy of the society to thrive.

The television is a common source of amusement. Television has become a significant mass medium with the advanced technology. Nowadays, TV has a wide variety of educational and instructive channels that serve as both sources of knowledge and enjoyment.

The Global Entertainment Market has been segmented in terms of type, by end user, by application, by sales channel. In terms of type, the Global Entertainment Market is split into television, cinema, streaming services, video games, live events, sports, radio, books, and others. On the end user, the market is fragmented into Gen Z, millennials, Gen X, and baby boomers.

On the basis of application, the market is fragmented into personal entertainment, group entertainment, and public entertainment. On the basis of sales channel, the market is fragmented into traditional broadcast, theatrical release, online streaming, retail stores, and ecommerce. Considering regions, the market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The outbreak of coronavirus disease in 2019 (COVID-19) restrained the global economy, created global interdependence, and challenged the governments of various nations. The pandemic raised concerns among economies and businesses by shifting focus towards online supply of consumer electronic gadgets and automotive components, thereby creating manufacturing issues.

The COVID-19 outbreak affected almost every industry. The long-term effects of the pandemic are expected to hamper various industries during the forecast period, especially across Eastern Europe, the European Union, Eastern & Central Asia, and the US.

Key Takeaways from the Study:

  • Players in the Global Entertainment Market include Activision Blizzard, Inc. , AMC Entertainment Holdings, Inc., CBS Interactive Inc., Creative Artists Agency, Electronic Arts Inc., GESTIFUTE MEDIA, ICM STELLAR SPORTS , Independent Sports & Entertainment, LLC., Live Nation Entertainment, Inc. , Merlin Entertainments, MIXI, Netflix, Inc., Newport Sports Management Inc., Nintendo Co., Ltd., Octagon, Paramount Global, Penn Entertainment, PRO SPORT MANAGEMENT , ROC NATION, Sony Pictures Digital Productions Inc., The Walt Disney Company, U-NEXT Co., Ltd., Universal Music Group N.V., Viral Nation Inc., Warner Bros. Discovery, Inc., Wasserman Media, and Xaxis.

  • Sporting events, concerts, and awards shows were canceled during the pandemic and overall revenue has declined due to a decrease in foot traffic and the prolonged shutdown of movie theatres.

  • Based on type, the global entertainment market is segmented into television, cinema, streaming services, video games, live events, sports, radio, books, and others. The streaming services segment has registered significant growth in recent years. The convenience and accessibility of streaming services have led to substantial growth in the number of subscribers. The outbreak of COVID-19 accelerated the consumption of streaming services, as people sought entertainment options at home during the pandemic. Integration of new OTT services across already existing subscription-based streaming devices is expected to drive the entertainment market in the coming years.

  • For instance, In July 2023, Wasserman Media, a global frontrunner in sports, music, entertainment, and culture, launched Wasserman Speakers, a speakers bureau and centralized hub for best-in-class speaking talent. Wasserman Speakers works with a diverse range of clients, including sports and media figures, such as Alex Morgan, Chipper Jones, and Derrick Rose.

  • Based on end users, the global entertainment market is segmented into Gen Z, Millennials, Gen X, and Baby Boomers. The Gen X segment plays a substantial role in the global entertainment market. Gen X are known for their diverse media consumption habits. They subscribe to streaming services, watch television, and engage with various forms of digital content. They have a preference for content that caters to their age group and interests. Moreover, Gen X often make entertainment choices for their families, including selecting movies, games, and activities suitable for their children, which influences family entertainment trends.

  • Based on application, the global entertainment market is segmented into personal entertainment, group entertainment, and public entertainment. The group entertainment segment held a significant market share in 2022. Group entertainment activities, such as theater performances, standup performances, and bowling activities, often rely on group ticket sales. This, in turn, boosts the group ticket sales and revenue for event organizers, as people attend these events in a group with friends or family. Moreover, movie theaters, circus shows, or bowling activities benefit from group visits, which lead to increased concession sales, including snacks, food, and beverages, thus boosting the segment.

  • For instance, In October 2023, Wasserman Media completed its acquisition of CSM Sport & Entertainment. Wasserman Media is a global frontrunner in sports, music, entertainment, and culture. This acquisition allows Wasserman Media to expand its service capabilities and geographic footprint in the sports, music, entertainment, and culture industries.

  • Based on sales channels, the global entertainment market is segmented into traditional broadcast, theatrical release, online streaming, retail stores, and e-commerce. The e-commerce segment held an notable share of the global entertainment market in 2022. The consumption of entertainment content, including movies, music, and video games, is shifting to digital downloads, and online platforms are becoming the preferred means of accessing content. Moreover, the COVID-19 pandemic further accelerated the shift towards digital entertainment options online. Sales of physical media such as DVDs and CDs had been declining for several years with some entertainment retailers pivoting to digital sales and diversifying their offerings. These above factors are expected to boost the e-commerce segment in the coming years.

  • Based on regions, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in Asia Pacific held notable share of the global entertainment market in 2022. This growth is attributed to the rapid expansion of the film industry in India. Additionally, cinema made in Asia Pacific, including films produced in China and South Korea, has gained recognition on the global stage. Thus, many renowned players have shifted their focus to emerging trends in movies and entertainment.

Report of Entertainment Market Scope:

Report Metric

Details

Market Value in 2022

US$ 2,484.9 Billion

Market Growth Rate (from 2022 to 2031)

9.9%

Historical Data

2016 & 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (US$ Billion)

Market Segments

By Type, By End User, By Application, Sales Channel and By Region

Key Companies Profiled

Activision Blizzard, Inc., AMC Entertainment Holdings, Inc., CBS Interactive Inc., Creative Artists Agency, Electronic Arts Inc., GESTIFUTE MEDIA, ICM STELLAR SPORTS, Independent Sports & Entertainment, LLC., Live Nation Entertainment, Inc. , Merlin Entertainments, MIXI, Netflix, Inc., Newport Sports Management Inc., Nintendo Co., Ltd., Octagon, Paramount Global, Penn Entertainment, PRO SPORT MANAGEMENT, ROC NATION, Sony Pictures Digital Productions Inc., The Walt Disney Company, U-NEXT Co., Ltd., Universal Music Group N.V., Viral Nation Inc., Warner Bros. Discovery, Inc., Wasserman Media, and Xaxis.

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Production Houses, Media Agencies, OTT Platforms, Distributors.

  • Regulatory Side: Concerned government authorities, and other approved regulatory bodies.

      • US Federal Trade Commission (FTC)

      • The French Regulatory Authority for Audiovisual and Digital Communication, France

      • National Commission of Markets and Competition, Spain

      • The Ministry of Information and Broadcasting (MIB), India

      • National Radio and Television Administration (NRTA) and the State Administration of Press and Publication (SAPP), China