Entertainment and Media Market: 2020 Global Industry Share
Posted by Ehtesham Peerzade on January 17th, 2020
The global entertainment and media market is spanned across North America, Europe, Asia-Pacific, and the rest of the world. North America is expected to be the largest market for entertainment and media market, with a significant growth rate during the forecast period. For the purpose of analysis, North America has been categorized into three regions—the US, Canada, and Mexico. During the forecast period, the US is expected to be the leading region in terms of market share, growing at a CAGR of 8.65%, followed by Canada with 9.55% and Mexico with 10.87%.
The US entertainment and media market has witnessed rapid growth due to contribution from the US film and media enterprises. The music and gaming industry also generate a surplus amount of revenue every year. The consumers demanding access to live media and entertainment over smartphones drive the investment of various key players in the country.
The country has a presence of small and large media and entertainment conglomerates including television, films, movie theaters, video and streaming services, music services, newspaper, cable and magazine subscriptions, and an excellent network of video distribution as well as high consumption of media and entertainment services. The US publishing sector is one of the largest in the world that publishes content and e-books in professional and educational sectors leading to growing consumer demand for an enhanced reading experience.
The global entertainment and media market have been segmented on the basis of type, application, and region. The market, by type, has been segmented into films and theatrical, music, social media, animation, video games, sports, art, amusement park/ facilities, radio & broadcasting, book & magazines, toys, and outdoor advertising. By application, the global entertainment and media market has been segmented into wired and wireless.
Asia-Pacific is expected to foresee the fastest growth in the entertainment and media market owing to the presence of major media providers and large population in the countries such as India and China demanding high-quality media content.
Among the countries in this region, China accounts for the largest market share followed by Japan, due to the rising adoption of smartphones and tablets in these countries. China has witnessed a rapid growth in entertainment and media industry in the recent years due to the increasing digitalization and advent of digital media over the Internet which promotes the adoption of media and entertainment products and services such as videos, advertisements, video games, and films. The Chinese government is heavily investing in the market and allowing foreign companies to invest in the magazines and local newspapers to increase the country’s share in the media and entertainment market.
However, the emergence of new culture and development of new media content is hampering the market growth as China has stringent regulations regarding the censorship rules of the Chinese cultural content. The Chinese market has significant growth potential for the market as China’s consumers mostly seek high-quality entertainment content, and businesses are introducing innovative models to sustain and gain a competitive edge in the market. Europe accounts for the second largest market share in the global entertainment and media market. The increasing penetration of internet across the European nations is one of the major factors contributing to the growth of media and entertainment market in this region.
Western Europe, that includes countries such as the UK, Germany, Spain, France, holds a strong market for radio broadcasters. The media sector contributes heavily towards the European economy by delivering a variety of quality content to consumers and holds immense potential for growth in the coming years. Growing access to the Internet in countries including Russia, Denmark, Italy, and Sweden drives the video and entertainment industry across this region.
The global Entertainment and media market is expected to reach USD 6.7 trillion at a CAGR of over 10.4% by the end of the forecast period 2018–2030.
Taste the market data and market information presented through more than 30 market data tables and figures spread over 100 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global Entertainment and media Market Research Report -Forecast to 2023”.
Some of the prominent players in the global entertainment and media market are Baidu Inc. (China), News Corporation (US), Advance Publications, Inc. (US), iHeartMedia, Inc. (US), Discovery, Communication Inc (US), Grupo Globo (Brazil), Warner Media, LLC (US), Verizon Communications Inc (US), Alphabet Inc. (US), Comcast Corporation (US), Facebook, Inc. (US), Bertelsmann SE & Co. KGaA (Bertelsmann) (Germany), Viacom, Inc (US), CBS Corporation (US), and The Walt Disney Company (US)
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About the AuthorEhtesham Peerzade
Joined: May 22nd, 2019
Articles Posted: 355
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