Media & Entertainment Market: Size, Share, Trends & Forecast (2024-2029)
The report covers a comprehensive analysis segmented by Type (Print Media (Newspaper, Magazines, Billboard, Banner, Leaflets, Flyers)), Digital Media (Television, Music & Radio, Mobile Advertising, Electronic Signage, Podcasts), Streaming Media (OTT Streaming, Live Streaming)), By Geography (North America, South America, Asia Pacific, Europe, the Middle East, Africa).
Media and Entertainment Market Snapshot
Media and Entertainment Market Overview
The global media and entertainment market is projected to grow from $2670.72 billion in 2024 to $3447.86 billion in 2029. For the projection period of 2024–2029, the worldwide media and entertainment industry is growing at a compound annual growth rate (CAGR) of 15.66%.
The media and entertainment sector is constantly evolving and multifaceted industry that encompasses a broad spectrum of activities involving the creation, distribution, and consumption of content. In recent times, various significant developments have impacted its organization and functioning. Advancements in technology, especially high-speed internet and mobile devices, have driven shifts in consumer habits. The rise in popularity of mobile streaming applications has led users to enjoy content at their convenience, regardless of location. Additionally, advanced technologies such as (VR) virtual reality and (AR) augmented reality are starting to shape the entertainment scene, providing audiences with immersive experiences.
(AR) Augmented Reality and (VR) Virtual Reality are revolutionizing the entertainment and media industry. AR overlays digital content onto the real world, enhancing experiences in gaming, live events, and marketing. VR immerses users in virtual environments, offering interactive storytelling in gaming, cinematic experiences, and virtual tourism. Both technologies redefine how audiences engage with content, fostering deeper immersion and interactivity. From interactive concerts to virtual movie theaters, AR and VR create new avenues for content creation and consumption. As adoption grows, they are certain to become integral components of the entertainment landscape, shaping the future of storytelling and audience engagement.
Recently, AI (Artificial Intelligence) has been widely used in the entertainment and media industry. AI remodels the media industry by enhancing content creation, distribution, and audience engagement. It powers personalized content recommendations, automates content generation, and optimizes editing processes. AI-driven analytics provide valuable insights into audience behavior, informing content strategy and advertising targeting. Virtual assistants and chatbots interact with audiences, delivering customized experiences and support. AI also aids in copyright protection by detecting unauthorized use of content. From streamlining production workflows to improving user experiences, AI is transforming the way media organizations function in the increasingly digital environment. In summary, the media and entertainment market are characterized by technological innovation, globalization, and regulatory scrutiny. It remains a vibrant and evolving industry, continually adapting to meet the changing preferences and behaviors of consumers worldwide.
​​​Media and Entertainment Market Coverage
| Historical & Forecast Period | 2018-2029 |
| Base Year | 2023 |
| Forecast Period | 2024-2029 |
| Units | Billion US$ |
| Segments | Type |
| Geographies | North America, South America, Asia Pacific, Europe, The Middle East, Africa |
| Key Vendors |
The Walt Disney Co., The Bertelsmann SE & Co. KGaA, DreamWorks Animation SKG, Inc., Comcast Corp., Vivendi SE |
Key Geographies of Media and Entertainment Market, 2023
Porter’s 5 Forces Analysis of Media and Entertainment Market
Media and Entertainment Market Trends
The way that people consume video has evolved due to streaming technologies. With the proliferation of streaming services, there is a growing demand for original and exclusive content. Companies are investing heavily to produce high-quality movies, series, and documentaries to attract subscribers. For example- services like Netflix, Amazon Prime Video, Disney+, are developing original content in their streaming platforms to attract more potential subscribers. Influencers on social media platforms can spread the opinions and choices of their followers. Major brands are also teaming up with influencers to advertise their products and services. Moreover, the world of entertainment is experiencing a rise in gaming popularity as more people are turning to gaming for fun and relaxation.
Meanwhile, music streaming services are thriving, that offer vast libraries of songs for subscribers to enjoy anytime, anywhere. Sports and mindfulness have merged with apps combining physical activity and mental well-being practices and thus, mental health applications are gaining preference that provide support and resources to those in need. Content personalization continues to evolve that customizes recommendations to individual preferences. Additionally, over-the-top (OTT) content advertisements are becoming more prevalent, that reaches audiences through streaming platforms with targeted marketing messages.
AI is transforming how content is created, distributed, and engage with audiences. AI-powered systems customize content suggestions on streaming platforms, boosting user experience and retention. Additionally, AI algorithms automate tasks like content generation, editing, and optimization, streamlining production processes and improving efficiency. AR and VR technologies are offering new and exciting experiences in entertainment, thereby AR adds digital elements to the real world, enhancing gaming, live events, and marketing. VR immerses users in virtual environments, allowing for interactive storytelling in gaming, movies, and virtual tours. These technologies give content creators fresh ways to engage audiences and create innovative experiences. For example, Apple’s ARKit framework lets developers make immersive augmented reality apps for iOS devices, integrating virtual elements into real-world settings using the device’s camera. Apple also offers the Measure app, which lets users measure objects in their surroundings using their iPhone or iPad.
Media and Entertainment Market Driving Factors
Several drivers shape the media and entertainment market as well as the key factors among these are technological advancements, which have a powerful impact. Innovations such as high-speed internet, mobile devices, and streaming platforms have reconstituted content consumption methods. This digital transformation has resulted in the emergence of on-demand and customized entertainment options, feeding the expansion of streaming services and mobile. Changing consumer preferences also drives market dynamics reflecting a growing demand for flexibility, convenience, and diverse content offerings. Consumers increasingly seek immersive experiences, that leads to the adoption of emerging technologies like VR, AR in entertainment.
Globalization stands as a central force driving the media and entertainment market forward. Content creators and distributors are increasingly expanding their horizons, reaching out to international audiences. Streaming platforms have played a vital role in this global expansion by offering seamless distribution channels, that ensures content can be accessed by diverse audiences across the globe. This enhanced accessibility not only broadens the reach of content but also fosters cultural exchange and diversity in entertainment offerings, enriching the experiences of audiences worldwide. Overall, these drivers collectively shape the media and entertainment market, driving innovation, expansion, and evolution in response to changing consumer demands and technological advancements.
Media and Entertainment Market Challenges
The media and entertainment sector encounters diverse hurdles that affect its functioning and expansion. A key obstacle is the swiftly evolving technological environment, necessitating ongoing adaptation and financial commitments to improve competitiveness. The transition towards digital platforms and streaming services has disorganized conventional revenue sources, presenting difficulties for rooted industry participants. Furthermore, piracy and unauthorized content distribution persist as significant challenges, resulting in revenue depletion and the devaluation of intellectual property rights. Heightened regulatory scrutiny, `focusing on content moderation, data privacy, and antitrust issues, presents a growing challenge.
Media companies must navigate regulatory compliance while safeguarding creative liberties, striking a delicate balance. Additionally, the fragmentation of audiences across numerous platforms and devices adds complexity to content distribution and revenue generation strategies. Talent retention and skill shortages pose significant challenges, especially in emerging fields such as AI, AR. Prioritizing adaptation to the evolving landscape and devising creative strategies to captivate audiences amidst these difficulties remain imperative for the media and entertainment sector.
Media and Entertainment Market – Key Industry News
- In March 2024, Paramount Global, the parent company of MTV, has announced its plan to sell off its remaining shares in Viacom18 to Reliance Industries, indicating its withdrawal from the media and entertainment sector in India.
- In April 2023, Twitter announced its merger with the X Corp., which is a is a social networking website for creating and sharing ideas.
- In Feb 2024, Reliance Industries Ltd., Viacom18 Media Pvt. Ltd. (Viacom18), and The Walt Disney Co. have signed binding agreements to establish a joint venture merging Viacom18’s media operations into Star India Pvt. Ltd. (SIPL).
Media and Entertainment Market Competitive Landscape
In the entertainment and media market, numerous players actively seek to secure market share and capture consumer attention, fostering a dynamic competitive environment. Numerous entities, ranging from traditional media conglomerates to tech giants and emerging startups, compete across various segments, including film, television, music, gaming, and digital content. Advancements and differentiation are critical strategies for gaining a competitive edge, whether through the development of original content, technological advancements, or strategic partnerships. Additionally, the globalization of the entertainment and media market, coupled with the widespread adoption of streaming platforms, has heightened competition. Companies are striving to increase their audience reach and indulge diverse global demographics. To maintain competitiveness in this ever-changing landscape, it is imperative for businesses to stay informed about market trends and consumer preferences.
The participants in the global media and entertainment industry are always developing their strategies to preserve a competitive advantage. Companies primarily use acquisitions, R&D, partnerships, and technological launches. Several important entities in the media and entertainment market include The Walt Disney Co., The Bertelsmann SE & Co. KGaA, DreamWorks Animation SKG, Inc., Comcast Corp., Vivendi SE, and others.
Media and Entertainment Market Company Share Analysis, 2023 (%)
Media and Entertainment Market – Key Companies
Reason to Buy from us
Table of Contents
| 1. Introduction |
|---|
| 1.1. Research Methodology |
| 1.2. Scope of the Study |
| 2. Market Overview / Executive Summary |
| 2.1. Global Media and Entertainment Market (2018 – 2022) |
| 2.2. Global Media and Entertainment Market (2023 – 2029) |
| 3. Market Segmentation |
| 3.1. Global Media and Entertainment Market by Type |
| 3.1.1. Print Media (Newspaper, Magazines, Billboard, Banner, Leaflets & Flyers) |
| 3.1.2. Digital Media (Television, Music & Radio, Mobile Advertising, Electronic Signage, Podcasts) |
| 3.1.3. Streaming Media (OTT Streaming, Live Streaming) |
| 4. Regional Segmentation |
| 4.1. North America |
| 4.1.1. The U.S |
| 4.1.2. Canada |
| 4.1.3. Mexico |
| 4.2. South America |
| 4.2.1. Brazil |
| 4.2.2. Argentina |
| 4.2.3. Colombia |
| 4.2.4. Chile |
| 4.2.5. Rest of South America |
| 4.3. Asia Pacific |
| 4.3.1. China |
| 4.3.2. India |
| 4.3.3. Japan |
| 4.3.4. South Korea |
| 4.3.5. Rest of Asia Pacific |
| 4.4. Europe |
| 4.4.1. UK |
| 4.4.2. Germany |
| 4.4.3. Italy |
| 4.4.4. France |
| 4.4.5. Spain |
| 4.4.6. Rest of Europe |
| 4.5. The Middle East |
| 4.5.1. Turkey |
| 4.5.2. UAE |
| 4.5.3. Saudi Arabia |
| 4.5.4. Rest of the Middle East |
| 4.6. Africa |
| 4.6.1. Egypt |
| 4.6.2. South Africa |
| 4.6.3. Rest of Africa |
| 5. Value Chain Analysis of the Global Media and Entertainment Market |
| 6. Porter Five Forces Analysis |
| 6.1. Threats of New Entrants |
| 6.2. Threats of Substitutes |
| 6.3. Bargaining Power of Buyers |
| 6.4. Bargaining Power of Suppliers |
| 6.5. Competition in the Industry |
| 7. Trends, Drivers and Challenges Analysis |
| 7.1. Market Trends |
| 7.1.1. Market Trend 1 |
| 7.1.2. Market Trend 2 |
| 7.1.3. Market Trend 3 |
| 7.1.4. Market Trend 4 |
| 7.1.5. Market Trend 5 |
| 7.2. Market Drivers |
| 7.2.1. Market Driver 1 |
| 7.2.2. Market Driver 2 |
| 7.2.3. Market Driver 3 |
| 7.2.4. Market Driver 4 |
| 7.2.5. Market Driver 5 |
| 7.3. Market Challenges |
| 7.3.1. Market Challenge 1 |
| 7.3.2. Market Challenge 2 |
| 7.3.3. Market Challenge 3 |
| 7.3.4. Market Challenge 4 |
| 7.3.5. Market Challenge 5 |
| 8. Regulatory Landscape |
| 9. Competitive Landscape |
| 9.1. The Walt Disney Co. |
| 9.2. The Bertelsmann SE & Co. KGaA |
| 9.3. DreamWorks Animation SKG, Inc. |
| 9.4. Comcast Corp. |
| 9.5. Vivendi SE |
| 9.6. Company 6 |
| 9.7. Company 7 |
| 9.8. Company 8 |
| 9.9. Company 9 |
| 9.10. Company 10 |
Media and Entertainment Market – Frequently Asked Questions (FAQs)
What is the current size of the global media and entertainment market?
The market size for the global media and entertainment market in 2024 is $2670.72 Bn.
Who are the major vendors in the global media and entertainment market?
The major vendors in the global media and entertainment market are The Walt Disney Co., The Bertelsmann SE & Co. KGaA, DreamWorks Animation SKG, Inc., Comcast Corp., Vivendi SE.
Which segments are covered under the global media and entertainment market segments analysis?
This report offers in-depth insights into each type.