The Entertainment Market was worth US$ 185 billion in 2021 and is projected to reach the valuation of US$ 652.5 billion by 2027 and is predicted to register a CAGR of 20.82% during 2022-2027.
A hilarious or interesting performance or presentation is defined as entertainment. An example of entertainment is a ballet performance. Good entertainment allows people to have a good time. People are more engaged and learn more while they are having fun. The energy level rises, and the mood improves dramatically.
Currently, the majority of entertainment services are available online, allowing customers to access more content. Social media, online video games, online casinos, music streaming, and video streaming are the most popular kinds of internet entertainment. The worldwide online entertainment market is predicted to rise as smartphone usage increases and internet connection becomes more inexpensive. The rapid use of internet-enabled smart gadgets, such as smartphones, smart TVs, laptops, desktops, and smart projectors, has increased demand for online entertainment material dramatically. Because of its advantages such as ease, low cost, and flexibility in scheduling, internet-based entertainment has acquired a lot of attention. Gaming is currently the most popular form of entertainment in the world, with the gaming business generating more cash than television, movies, and music combined last year. Other sources of entertainment, on the other hand, are declining Entertainment Market.
Because of shifting consumer tastes and trends in how consumers obtain and use information, the global entertainment market is likely to undergo significant changes over the forecast period. Consumer behaviour is changing at a rapid rate, which has accelerated the entertainment industry's evolution. In reaction to the continuously changing market, the entertainment industry is projected to evolve dramatically with new inventions and concepts.
The mobile market is likely to be driven by a growing user base and advancements in mobile technologies. Because of the rising visual content, cellular smartphones have evolved into media devices in the industry. The ability to view TV episodes, news, and movies on the internet has made the web-based domain a prominent section of the global market. Market development is projected to be aided by an increase in smartphone users and the number of applications downloaded.
High-definition and three-dimensional televisions, as well as the existence of high-tech network infrastructure (4G/5G mobile network) and wireless broadband technologies, are projected to be important driving forces in the global entertainment business. E-books have become increasingly popular, accounting for a significant share of current book sales.
Overseas trade obstacles, non-English speaking populations, unequal monetization, and money rotation in specialised industries, as well as piracy rackets and the underground economy, are anticipated to stymie the Movies and Entertainment Market's expansion throughout the projection period.
According to online entertainment market data, the video sector accounted for almost one-third of the online entertainment market share in 2021, and this proportion is likely to hold throughout the forecast year. This is mostly due to the increased usage of digital media for product and service ads and promotions. Because of the numerous benefits connected with digital advertising, such as real-time trackability, rapid gratification, targeted, segmented audiences, and cost-effectiveness, it has acquired tremendous popularity among businesses. As a result, an increase in digital media advertising contributes significantly to the expansion of the online entertainment sector.
The market is divided into residential and commercial segments based on application. As big studios embrace upgraded marketing tactics that leverage advanced digital technologies for communication, the commercial segment is likely to dominate this segment in terms of revenue generation and volume. The amount of money spent on promotional activities has skyrocketed. The deployment of improved promotional channels is projected to have a favourable impact on revenue growth.
On the basis of device, the market is divided into many groups. However, advancements in smartphone technology and increased smartphone usability are projected to have the greatest impact on market growth. The increased size of smartphones and touchscreen displays has improved viewers' visual and auditory experiences. As a result, the increased use of smartphones is likely to propel the online entertainment industry forward over the forecast period.
The expansion of content streaming services in the entertainment industry is expected to provide Asia-Pacific with a large portion of the market in the forecast period. Other reasons, including the increase in devices and the subscription to filtered material, are projected to contribute to market expansion. The market expansion in the APAC sector is being fuelled by an increase in the number of stage artists, filmmakers, film artists, and business executives.
In 2021, North America dominated the online entertainment industry, and it is predicted to continue to do so during the forecast period. The availability of modern digital infrastructure, a high percentage of digital literacy, and quick acceptance and favourable response to technical improvements are all major factors driving the growth of the online entertainment market in the region. Furthermore, the expansion of the online entertainment sector is aided by the rise in the popularity of online games.
During the projection period, the European media and entertainment market is expected to rise significantly. The exponential rise of the region's online media and entertainment platform is one of the primary drivers driving the market growth. Some of the biggest online media and entertainment firms contributing to the European media and entertainment industry are Amazon, Netflix, Apple TV, and Roku. Furthermore, Europe is regarded as one of the top tourist destinations in the world, with a plethora of hotspots, theme parks, and live events, all of which contribute to the expansion of Europe's offline media and entertainment business.
By 2027, the Middle East movies and entertainment market is expected to have grown at an annual rate of 8.5 per cent, reaching USD 3.57 billion. Growth is expected to be propelled by the increasing popularity of 3D movies that provide a virtual reality experience to the audience. Furthermore, new marketing and distribution platforms like IPTV, digital newspapers, DTH, and digital cable, as well as online music and movie sales, are expected to accelerate industry growth.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Entertainment Market , By Type
6.1.4 Internet Radio
6.1.6 Market Size Estimations & Forecasts (2022-2027)
6.1.7 Y-o-Y Growth Rate Analysis
6.1.8 Market Attractiveness Index
6.2 Entertainment Market , By Application
6.2.3 Market Size Estimations & Forecasts (2022-2027)
6.2.4 Y-o-Y Growth Rate Analysis
6.2.5 Market Attractiveness Index
6.3 Entertainment Market , By Devices
6.3.2 Smart TVs
6.3.3 Projectors, & Monitors
6.3.4 Laptop, Desktops, & Tablets
6.3.6 Market Size Estimations & Forecasts (2022-2027)
6.3.7 Y-o-Y Growth Rate Analysis
6.3.8 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Entertainment Market , by Region
7.2 North America - Market Analysis (2022-2027)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.2.4 By Devices
7.3.1 By Country
220.127.116.11 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.3.4 By Devices
7.4 Asia Pacific
7.4.1 By Country
18.104.22.168 South Korea
22.214.171.124 South East Asia
126.96.36.199 Australia & NZ
188.8.131.52 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.4.4 By Devices
7.5 Latin America
7.5.1 By Country
184.108.40.206 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.5.4 By Devices
7.6 Middle East and Africa
7.6.1 By Country
220.127.116.11 Middle East
7.6.2 By Type
7.6.3 By Application
7.6.4 By Devices
8. Key Player Analysis
8.1 CBS Broadcasting Inc.
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Sony Entertainment, Inc.
8.3 The Walt Disney Company
8.4 21st Century Fox
8.5 Viacom Inc.
8.8 Universal Pictures
8.9 Disney/ABC Television Group
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
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