Entertainment & Media Market Share, Growth & Forecast [2031]
Entertainment & Media Market Share, Growth & Forecast [2031]
Segments - Entertainment & Media Market by Type (Books & Magazines, Films, Gaming & Gambling, Social Media, Music & Theater, Animation, Outdoor Advertising, Radio Broadcasting, Amusement Park/Facilities, Sports, Toys, and Art), Application (Wired and Wireless), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023–2031
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| Report ID :CG-4089
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Report Description
Entertainment & Media Market Outlook 2031
The global entertainment & media market size was USD 2763 Billion in 2022 and is projected to reach USD 5991 Billion by 2031, expanding at a CAGR of 8.98% during 2023–2031. The market growth is attributed to the high consumer spending on entertainment and media services.
Increasing internet penetration and smartphone usage are anticipated to fuel the market. The widespread availability of high-speed internet, coupled with the increasing affordability of smartphones, makes digital content accessible to a broader audience. The convenience of accessing entertainment and media content on smartphones allows consumers to enjoy their favorite movies, music, TV shows, games, and news on-demand, anytime and anywhere.
Rising investments in advertising and marketing are likely to propel the market. The shift towards digital platforms opens up new avenues for targeted advertising, allowing companies to reach a more specific audience. This trend is supported by the growing use of data analytics, which enables advertisers to understand consumer preferences and deliver relevant ads. As a result, advertising revenues are expected to increase, contributing significantly to the fuel the market.
Impact of Artificial Intelligence (AI) in Entertainment & Media Market
Artificial Intelligence has a positive impact on entertainment & media market. AI's ability to analyze vast amounts of data and generate insights is enabling a personalized and engaging user experience. Streaming platforms leverage AI algorithms to recommend content based on a user's viewing history and preferences, enhancing user engagement and retention. In content creation, AI tools are being used to automate certain processes, such as video editing and animation, increasing efficiency and reducing costs. Furthermore, AI is playing a pivotal role in advertising within this sector. Advanced algorithms predict consumer behavior and preferences, allowing for targeted advertising that increases the effectiveness of marketing campaigns.
Entertainment & Media Market Dynamics
Major Drivers
Increasing consumer demand for high-quality content is expected to drive the entertainment & media market. This surge is primarily due to the growing preference for immersive and interactive experiences, particularly among younger demographics. The proliferation of digital platforms, such as streaming services and online gaming platforms, further fuels this demand, offering consumers a wider range of content options than ever before. Consequently, content creators and distributors are investing heavily in producing high-quality, original content to attract and retain audiences.
Existing Restraints
High cost of content production and distribution hamper the market. The creation of high-quality content requires significant investment in technology, talent, and marketing. Furthermore, the distribution of this content, particularly on digital platforms, involves additional costs related to bandwidth, data storage, and security. These high costs limit the ability of companies, especially smaller ones, to compete effectively in the market.
Emerging Opportunities
Growing technological advancements creates a lucrative opportunity for the market. Innovations in virtual reality (VR), augmented reality (AR), and artificial intelligence (AI) are transforming the way content is created, distributed, and consumed. These technologies enable the creation of engaging and personalized content, thereby enhancing the user experience. Furthermore, advancements in data analytics and machine learning are providing valuable insights into consumer behavior, enabling companies to tailor their offerings effectively.
Scope of the Entertainment & Media Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics are included in the report.
|
Attributes |
Details |
|
Report Title |
Entertainment & Media Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
|
Base Year |
2022 |
|
Historic Data |
2016 -2021 |
|
Forecast Period |
2023–2031 |
|
Segmentation |
Type (Books & Magazines, Films, Gaming & Gambling, Social Media, Music & Theater, Animation, Outdoor Advertising, Radio Broadcasting, Amusement Park/Facilities, Sports, Toys, and Art) and Application (Wired and Wireless) |
|
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
|
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
|
Key Players Covered in the Report |
Advance; Alphabet Inc; Baidu, Inc; Bertelsmann SE & Co. KGaA; Comcast Corporation; Discovery, Inc.; Disney; Grupo Globo; Hasbro Inc.; Iheartmedia Inc.; Mattel Inc.; Meta Platforms, Inc.; News Corporation; Verizon Communications Inc.; Viacomcbs (Paramount); and Warner Media, Llc. |
Entertainment & Media Market Segment Insights
Type Analysis
Based on type, the entertainment & media market is divided into books & magazines, films, gaming & gambling, social media, music & theater, animation, outdoor advertising, radio broadcasting, amusement park/facilities, sports, toys, and art. The films segment held the major share of the market in 2023 due to the rising global appeal of movies.
Many Hollywood films have a broad international appeal, allowing them to attract audiences not only in North America but also in markets around the world. The global distribution of films contributes to their dominance within the entertainment & media market. The rise of digital platforms also contributed to this growth, offering consumers convenient ways to access films. Furthermore, the production of high-budget blockbuster films, coupled with advancements in film technology that enhance the viewing experience, solidified the leading position of this segment.
The gaming & gambling segment is expected to expand at a significant growth rate in the coming years due to the increasing popularity of online and mobile gaming and the rising technological advancements. The proliferation of smartphones, coupled with advancements in internet connectivity, leads to a surge in online and mobile gaming. Players now have access to a wide variety of games on their smartphones, tablets, and computers, enabling gaming experiences on the go. This accessibility expands the gaming audience and increases engagement levels. Furthermore, the integration of advanced technologies, such as virtual reality and artificial intelligence, into gaming is enhancing the user experience, making games immersive and interactive.
Application Segment Analysis
On the basis of application, the global market is segregated into wired and wireless. The wired segment held largest market share in 2023 due to the widespread use in broadcasting and distributing content, particularly in television and radio.
Wired connections, such as cable and fiber-optic networks, offer high levels of reliability and stability compared to wireless connections. This makes them ideal for broadcasting applications where uninterrupted transmission of content is crucial, such as live television and radio broadcasts. Furthermore, the high-quality signal transmission offered by wired technologies, free from interference and signal loss, contributes to propel the market.
The wireless segment is anticipated to grow at a substantial CAGR during the forecast period due to the increasing consumer preference for on-demand and mobile content. Wireless technologies, such as Wi-Fi and cellular networks, enable consumers to access content anytime, anywhere, enhancing convenience and flexibility. The proliferation of smartphones and tablets, coupled with the growing availability of high-speed wireless internet, is expected to further propel this trend. Furthermore, advancements in wireless technologies, such as the rollout of 5G networks, are likely to enhance the quality and speed of content delivery, thereby boosting the wireless application segment in the coming years.
Regional Outlook
In terms of region, the global entertainment & media market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America held a major market share in 2023 due to the rising technological advancements and the high consumption of both traditional and digital media in the region.
North America is recognized for its large and affluent consumer base with high levels of media consumption. The region has a strong appetite for various forms of entertainment, including movies, TV shows, music, video games, and digital content. This high demand boosts revenue within the entertainment and media sector. Furthermore, North America is often at the forefront of technological innovation, including advancements in internet infrastructure, mobile technology, and digital platforms. These innovations enable the widespread adoption of digital media consumption and facilitate the development of new entertainment experiences
The market in Asia Pacific is projected to grow at a significant pace in the years to come owing to the rapidly expanding middle-class population, increasing disposable incomes, and surging internet penetration in the region. The increasing popularity of local content, coupled with the government's push for digital transformation, is likely to fuel the market in Asia Pacific. Moreover, the rising demand for mobile-friendly content, given the high smartphone usage in the region, is expected to provide additional growth opportunities for companies in the entertainment and media market.
Segments
The entertainment & media market has been segmented on the basis of
Type
- Books & Magazines
- Films
- Gaming & Gambling
- Social Media
- Music & Theater
- Animation
- Outdoor Advertising
- Radio Broadcasting
- Amusement Park/Facilities
- Sports
- Toys
- Art
Application
- Wired
- Wireless
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Advance
- Alphabet Inc
- Baidu, Inc
- Bertelsmann SE & Co. KGaA
- Comcast Corporation
- Discovery, Inc.
- Disney
- Grupo Globo
- Hasbro Inc.
- Iheartmedia Inc.
- Mattel Inc.
- Meta Platforms, Inc.
- News Corporation
- Verizon Communications Inc.
- Viacomcbs (Paramount)
- Warner Media, Llc
Competitive Landscape
Key players competing in the global entertainment & media market are Advance; Alphabet Inc; Baidu, Inc; Bertelsmann SE & Co. KGaA; Comcast Corporation; Discovery, Inc.; Disney; Grupo Globo; Hasbro Inc.; Iheartmedia Inc.; Mattel Inc.; Meta Platforms, Inc.; News Corporation; Verizon Communications Inc.; Viacomcbs (Paramount); and Warner Media, Llc.
These companies use development strategies including mergers, acquisitions, partnerships, collaboration, and product launches to expand their consumer base worldwide. For instance,
- In March 2023, iHeartMedia launched Outspoken, a fresh podcast network distributed through iHeartPodcasts, aimed at amplifying, elevating, and reflecting the diversity, richness, and humanity of voices within the LGBTQ+ community.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Entertainment & Media Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Entertainment & Media Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Entertainment & Media Market - Supply Chain
4.5. Global Entertainment & Media Market Forecast
4.5.1. Entertainment & Media Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Entertainment & Media Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Entertainment & Media Market Absolute $ Opportunity
5. Global Entertainment & Media Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Entertainment & Media Market Size and Volume Forecast by Types
5.3.1. Books & Magazines
5.3.2. Films
5.3.3. Gaming & Gambling
5.3.4. Social Media
5.3.5. Music & Theater
5.3.6. Animation
5.3.7. Outdoor Advertising
5.3.8. Radio Broadcasting
5.3.9. Amusement Park/Facilities
5.3.10. Sports
5.3.11. Toys
5.3.12. Art
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Entertainment & Media Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Entertainment & Media Market Size and Volume Forecast by Applications
6.3.1. Wired
6.3.2. Wireless
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Entertainment & Media Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Entertainment & Media Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Entertainment & Media Demand Share Forecast, 2019-2026
8. North America Entertainment & Media Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Entertainment & Media Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Entertainment & Media Market Size and Volume Forecast by Types
8.4.1. Books & Magazines
8.4.2. Films
8.4.3. Gaming & Gambling
8.4.4. Social Media
8.4.5. Music & Theater
8.4.6. Animation
8.4.7. Outdoor Advertising
8.4.8. Radio Broadcasting
8.4.9. Amusement Park/Facilities
8.4.10. Sports
8.4.11. Toys
8.4.12. Art
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Entertainment & Media Market Size and Volume Forecast by Applications
8.7.1. Wired
8.7.2. Wireless
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Entertainment & Media Demand Share Forecast, 2019-2026
9. Latin America Entertainment & Media Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Entertainment & Media Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Entertainment & Media Market Size and Volume Forecast by Types
9.4.1. Books & Magazines
9.4.2. Films
9.4.3. Gaming & Gambling
9.4.4. Social Media
9.4.5. Music & Theater
9.4.6. Animation
9.4.7. Outdoor Advertising
9.4.8. Radio Broadcasting
9.4.9. Amusement Park/Facilities
9.4.10. Sports
9.4.11. Toys
9.4.12. Art
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Entertainment & Media Market Size and Volume Forecast by Applications
9.7.1. Wired
9.7.2. Wireless
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Entertainment & Media Demand Share Forecast, 2019-2026
10. Europe Entertainment & Media Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Entertainment & Media Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Entertainment & Media Market Size and Volume Forecast by Types
10.4.1. Books & Magazines
10.4.2. Films
10.4.3. Gaming & Gambling
10.4.4. Social Media
10.4.5. Music & Theater
10.4.6. Animation
10.4.7. Outdoor Advertising
10.4.8. Radio Broadcasting
10.4.9. Amusement Park/Facilities
10.4.10. Sports
10.4.11. Toys
10.4.12. Art
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Entertainment & Media Market Size and Volume Forecast by Applications
10.7.1. Wired
10.7.2. Wireless
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Entertainment & Media Demand Share Forecast, 2019-2026
11. Asia Pacific Entertainment & Media Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Entertainment & Media Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Entertainment & Media Market Size and Volume Forecast by Types
11.4.1. Books & Magazines
11.4.2. Films
11.4.3. Gaming & Gambling
11.4.4. Social Media
11.4.5. Music & Theater
11.4.6. Animation
11.4.7. Outdoor Advertising
11.4.8. Radio Broadcasting
11.4.9. Amusement Park/Facilities
11.4.10. Sports
11.4.11. Toys
11.4.12. Art
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Entertainment & Media Market Size and Volume Forecast by Applications
11.7.1. Wired
11.7.2. Wireless
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Entertainment & Media Demand Share Forecast, 2019-2026
12. Middle East & Africa Entertainment & Media Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Entertainment & Media Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Entertainment & Media Market Size and Volume Forecast by Types
12.4.1. Books & Magazines
12.4.2. Films
12.4.3. Gaming & Gambling
12.4.4. Social Media
12.4.5. Music & Theater
12.4.6. Animation
12.4.7. Outdoor Advertising
12.4.8. Radio Broadcasting
12.4.9. Amusement Park/Facilities
12.4.10. Sports
12.4.11. Toys
12.4.12. Art
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Entertainment & Media Market Size and Volume Forecast by Applications
12.7.1. Wired
12.7.2. Wireless
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Entertainment & Media Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Entertainment & Media Market: Market Share Analysis
13.2. Entertainment & Media Distributors and Customers
13.3. Entertainment & Media Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Advance
13.4.2. Alphabet Inc
13.4.3. Baidu, Inc
13.4.4. Bertelsmann SE & Co. KGaA
13.4.5. Comcast Corporation
13.4.6. Discovery, Inc.
13.4.7. Disney
13.4.8. Grupo Globo
13.4.9. Hasbro Inc.
13.4.10. Iheartmedia Inc.
13.4.11. Mattel Inc.
13.4.12. Meta Platforms, Inc.
13.4.13. News Corporation
13.4.14. Verizon Communications Inc.
13.4.15. Viacomcbs (Paramount)
13.4.16. Warner Media, Llc
Methodology
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