Segments - Entertainment Market By Type (Television, Cinema, Streaming Services, Video Games, Live Events, Sports, Radio, Books, Others), End User (Gen Z, Millennials, Gen X, Baby Boomers), Application (Personal Entertainment, Group Entertainment, Public Entertainment), Sales Channel (Traditional Broadcast, Theatrical Release, Online Streaming, Retail Stores, ECommerce) and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031
The Global Entertainment Market was estimated at USD 2,484.9 Billion in 2022 and is anticipated to reach USD 5,644.3 Billion by 2031, expanding at a CAGR of 9.9% during the forecast period, 2023-2031. Entertainment is a type of activity that holds the interest and attention of the audience as well as provides pleasure and delight. Attention of the audience is captured by different things, as individuals have different preferences in entertainment.
Over the time, storytelling, music, drama, dance, sports, and other different kinds of performance, which existed in all cultures, developed into sophisticated forms and became available to everyone across the globe. In modern times these performances are recorded and broadcasted to the people in the form of audio-visual formats.
Audience are a key part of entertainment, as entertainment transforms personal free time into a form of fun. The audience plays a passive or active role when viewing a play, opera, television program, or film. However, the audience may play a passive role, as in viewing a play, opera, television show, or film, or it can play an active role, as in games, where the participant/audience roles are frequently switched.
Rising consumer spending is expected to boost the market. This increases spending on entertainment that includes OTT subscription and purchasing games. For instance, according to the Digital Entertainment Group, U.S. consumer spending on home entertainment hit a new milestone in the first quarter of this year, crossing the USD 10 billion mark for the very first time, and it is nearly 15% over consumer spending in the first quarter of 2022.
The gain was driven by a 22% increase in subscription streaming revenue, which grew to USD 8.7 billion, from USD 7.1 billion in Q1 2022.
Rapid digital transformation has been a significant catalyst for the growth of OTT platforms, as smartphone ownership is growing rapidly around the world. Moreover, in the recent years there has been increase in internet speed that allows efficient streaming of video content and browsing entertainment content. Telecommunications providers are investing heavily in infrastructure upgrades that enable them to provide more bandwidth to cater to the rising demand for data speed.
This is expected to provide high digital connectivity to the people. Millions of user’s access entertainment content every second across the internet through different channels and modes. The entertainment industry is currently experiencing a huge shift in the way it delivers content to consumers. Additionally, rising streaming services has increased subscribers and viewers.
Increasing sports popularity across the globe is expected to boost the entertainment market in the coming years. Football is the majorly popular sport followed by basketball, baseball, cricket, and hockey. One of the major factors that propel the market growth is the remarkable growth in the popularity of sports events, such as the Olympics, the football World Cup, the cricket World Cup, and others.
For instance, according to Bundeslega, a premier football leagues of Europe, football is the popular sport with 3.5 million fanbase that is being played across the globe, followed by cricket having 2.5 billion fans, and basketball 2.2 billion.
The rising demand for video-on-demand (VOD) or streaming services is expected to drive the entertainment market in the forecast period. Conventional media and Direct-to-Home (DTH) technology offers movies and other audio-visual information in high-quality streaming and on-demand television through cable and satellite, through a satellite dish connection.
However, video-on-demand (VOD) or streaming services have recently made it easy to view movies or television, owing to advancements in technology. It provides significantly enhanced viewing, sound, and image quality with improved internet connection. For instance, according to a Growth Market Report study, India is expected to have more than 485 million online video subscribers by the financial year 2023.
Stringent regulation and increasing regulatory cost are expected to hamper the market growth during the forecast period. The regulatory burden is increased on data privacy, data localization, and antitrust mandates of online companies.
For instance, in August 2023, the Digital Personal Data Protection (DPDP) Bill was passed in India, states that Multinational corporations and global startups operating out of India have to follow local data storage norms as mandated by sectoral regulators despite the new data bill allowing for easy cross-border transfer and processing of data. Therefore, such MNCs or startups are likely to see an increased cost of operations as they have to follow the regulations.
Advancements in technology in the entertainment industry are expected to create vast opportunities in the forecast period. Advancements in augmented reality (AR), virtual reality (VR), Artificial Intelligence (AI), cloud computing, digital effects, and computer-generated imagery (CGI) have revolutionized the possibilities for audience engagement and storytelling.
These developments captivate audiences and also inspire creators to push the boundaries of their craft. For instance, in August 2023, Globant, a US-based software development company, and LaLiga Tech, a Spain-based technology solutions provider came together to collaborate with Microsoft on a series of initiatives with the goal of fostering the transformation of sports in various domains through the utilization of Artificial Intelligence.
The report on the Global Entertainment Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Entertainment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (Television, Cinema, Streaming Services, Video Games, Live Events, Sports, Radio, Books, and Others), End User (Gen Z, Millennials, Gen X, and Baby Boomers), Application (Personal Entertainment, Group Entertainment, and Public Entertainment), Sales Channel (Traditional Broadcast, Theatrical Release, Online Streaming, Retail Stores, and ECommerce) |
Regional Scope |
Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
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. |
Based on type, the global entertainment market is segmented into television, cinema, streaming services, video games, live events, sports, radio, books, and others. The sports segment is further segmented into badminton, baseball, basketball, cricket, ice hockey, rugby/football/soccer, table tennis, wrestling/boxing, and others.
The sports segment is projected to expand at a notable CAGR during the forecast period, owing to the rise of digital streaming platforms and Over-The-Top (OTT) services.
Based on end users, the global entertainment market is segmented into Gen Z, Millennials, Gen X, and Baby Boomers. The Gen Z is playing a significant role in driving the global entertainment market. This generation heavily contributes to the rise of streaming platforms such as Netflix, YouTube, and TikTok. They prefer on-demand and user-generated content, leading to the growth of short-form videos and vlogs.
The gaming industry has seen a surge in popularity, due to Gen Z. They are avid gamers, both in consoles and mobile devices. Their presence on social media is influential. They follow and engage with content created by influencers, impacting trends in music, fashion, and lifestyle.
Based on application, the global entertainment market is segmented into personal entertainment, group entertainment, and public entertainment. The public entertainment segment plays a significant role as a driver for the global entertainment market. Public entertainment encompasses a wide range of activities and venues that cater to mass audiences and are typically open to the public.
Events in the public entertainment segment often draw large crowds. Major music festivals, sports championships, and cultural events attract a huge number of attendees. This results in substantial ticket sales, concessions, and merchandise revenue.
Based on sales channels, the global entertainment market is segmented into traditional broadcast, theatrical release, online streaming, retail stores, and e-commerce. The theatrical release segment held an significant share of the global entertainment market in 2022. Major film releases, especially blockbuster franchises, and highly anticipated films often generate high box office revenue.
High-profile movie releases create cultural events and often dominate public discourse, contributing to the cultural landscape. Moreover, many Hollywood films have global appeal, leading to significant international box office earnings.
On the basis of region, the global entertainment market is divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa (MEA). The market in North America is a huge one, as the trend of cord-cutting (canceling cable or satellite TV subscriptions in favor of streaming services) has gained significant popularity in North America over the past few decades.
In August 2023, MIXI, a Japan-based mobile entertainment company, launched a corporate venture capital (CVC) fund of USD 50 million in India. Its target is to utilize Yen 30-50 billion (USD 200-350 million) for acquisitions, mergers, and partnerships between FY23 and FY25.
In August 2023, Penn Entertainment, a US-based gambling company, has partnered with Disney’s ESPN to rebrand and relaunch its sportsbook as ESPN Bet.
In January 2022, Microsoft announced that it intends to acquire Activision Blizzard, a US-based video game company, to bring the joy and community of gaming to everyone across every device.
In September 2021, the Creative Artists Agency (CAA) expanded its sports segment in Asia. The company is further set to expand its sports segment, CAA Sports, in Singapore.
In July 2021, ICM STELLAR SPORTS expanded its presence in the US by acquiring National Football League (NFL) agency Select Sports Group. The deal brings 70 National Football League (NFL) players, coaches, and executives under the ICM STELLAR umbrella.
In-depth Analysis of the Global Entertainment Market
Historical, Current, and Projected Market Size in Terms of Value
Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
Industry Drivers, Restraints, and Opportunities Covered in the Study
Recent Industry Trends and Developments
Competitive Landscape & Strategies of Key Players
Key players operating in the Global Entertainment Market are 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.
Market players are pursuing strategies such as acquisitions, product launches, collaborations, and geographic expansion to leverage untapped opportunities in the Global Entertainment Market.
Additional company profiles can be provided on request. For a discussion related to the above findings, click Speak to Analyst
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
Increasing popularity of sports events, rising demand for VOD or streaming services are the factors expected to drive the market growth during the forecast period.
According to this Growth Market Reports report, the Global Entertainment Market is likely to register a CAGR of 9.9% during the forecast period 2023-2031, with a projected valuation of USD ~ 5,644.3 billion by the end of 2031.
Factors such as consumer spending, rising digital connectivity is analyzed in the final report.
Major players include AMC Entertainment Holdings, Inc., Activision Blizzard, Inc., CBS Interactive Inc., The Walt Disney Company, Electronic Arts Inc., Live Nation Entertainment, Inc., Merlin Entertainments, MIXI, Netflix, Inc., Nintendo Co., Ltd., Paramount Global, Penn Entertainment, Sony Pictures Digital Productions Inc., U-NEXT Co., Ltd., Universal Music Group N.V., Warner Bros. Discovery, Inc., and Xaxis.
The pandemic had a significant impeded various market, including the Entertainment market. 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.
Factors such as Regulatory Approvals is expected to hinder the market.
The forecast year considered for the Global Entertainment Market report is 2031.
The base year considered for the Global Entertainment Market report is 2022. The complete analysis period is 2016 to 2031, wherein, 2016 to 2021 are the historic years, and the forecast is provided from 2023 to 2031.