Entertainment and Media Market to Witness Robust Expansion Throughout the Forecast Period 2021 – 2030

In a recent published report, Kenneth Research has updated the market report for Entertainment and Media Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Entertainment and Media Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023

The global entertainment and media market is expected to grow at a 10.40% CAGR during the forecast period 2018–2030.

The entertainment and media industry is expected to attain a rapid growth with advancements in digital technologies and the emergence of 5G network connectivity services. Artificial Intelligence (AI) is expected to have an impact on the gaming sector with consumers demanding enhanced gaming experience; this is expected to present an opportunity for key players to invest in the market. However, the challenges of controlling piracy and proper enforcement of copyright laws remains a restraint for the market players. The entertainment and media market witnesses losses worth billions of dollars due to piracy and illegal file sharing. Growing cyberattacks on online platforms also pose a challenge for the market players.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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The increasing demand for more efficient and faster mobile networks from end users has contributed to the overall demand for 5G network connectivity and its development. Companies such as AT&T and Verizon have opened 5G test sites in cities such as Dallas, Atlanta, Sacramento, and Los Angeles. The 5G technology is expected to be commercially deployed in the US by 2022. Governments in different countries such as India have started various initiatives such as the 5G India Forum (5GIF) to speed up deployment. The rollout of 5G technology is expected to transform the entertainment and media industry completely. It is expected to be 10 times faster than 4G technology which will make the process of downloading videos, audio, and gaming content online almost instantaneous.

Based on application, the media and entertainment market has been segmented into wired and wireless applications. Both wired and wireless applications use channels used for data transmission between transmitters and receivers.

The wired media provides a connection between devices through cables. Various types of cables are used for connecting two or more devices; the cables that are primarily used as a traditional means for data transmission are twisted pair cables, coaxial cables, and optical fiber cables. One of the major benefits of using wired media over a wireless technology is the reliability and consistency of the signal with a secure network. Some other benefits of these cables are a superior performance at a higher data rate, insulation from noise and electromagnetic interference and superior capacity and network bandwidth. Gamers use the LAN (Local Area Network) cables as they offer a continuous gaming experience without any lag and connection inconsistency. Set-top boxes, Wi-Fi modems, telephone lines, and gaming devices such as PS4, Xbox use wired connectivity for communication and transmission of data.

The ownership of wireless connected devices is proliferating due to the increasing adoption of cloud platforms, video streaming, IoT technology, social media platforms, and online content platforms by enterprises. The wireless connectivity is usually operated by radio waves, microwaves, and infrared waves; they find various applications in AM and FM radios transmission, cordless phones, mobile phone communication, television content distribution, TV remotes, wireless mouse, keyboard, gaming console, remote, and others.

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Advances in technology are transforming the market of traditional wire connectivity towards wireless connectivity due to the ability of the wireless networks to exchange data from anywhere. One of the major benefits wireless connectivity offers is access to the information such as news, videos, image over the Internet through devices such as laptops, mobiles, tablets, and others without using cables. Currently, various gaming consoles such as PSP and Xbox One Xare moving towards wireless connectivity for live game streaming. The increasing popularity of games such PUBG and Clash of Titans has increased their live streaming which has impacted the growth of the wireless connectivity segment. Moreover, the utilization of Smart TVs for accessing various content platforms such as Netflix, HotStar, and Amazon’s Prime Video has also contributed to the growth of the market

Regional Analysis

Global Entertainment and Media Market, by Region, 2018 (%)

The entertainment and media market, by region, has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. North America accounted for the largest market value of USD 878.3 billion in 2018; the market is expected to register a CAGR of 8.84% during the forecast period. Europe was the second-largest market in 2018, valued at USD 576.5 billion; the market is projected to exhibit a CAGR of 9.07%. However, the market in Asia-Pacific is expected to register the highest CAGR of 13.30%. China has witnessed a rapid growth in the 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.

The Japanese entertainment and media market is growing at a fast pace since the digital media industry of the country is one of the fastest growing among other Asia-Pacific countries. This growth is a result of the usage of search engines and social media platforms by the large population of the country. Yahoo is a leading player for entertainment and media in Japan as it is the most widely used search engine which is ahead of Google in the country. The US gaming industry also contributes to the market growth of media and entertainment in the country. The gaming sector comprises offline and online video games and world class gaming equipment such as gaming consoles, virtual, and augmented reality (VR/AR) sets, online mobile gaming applications, and cloud-based gaming platforms, thereby fostering the market growth. Furthermore, rising investments by Microsoft Corporation to promote video games, e-sports, and gaming equipment are expected to attract a large number of customers, further generating revenue for the media and entertainment industry.

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Companies Covered

The key players of 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).

Key Developments 

On May 2018, Baidu, Inc. entered into an agreement with certain investors for sales of DU ads and tool apps including Du Caller, Mobojoy, Photo Wonder, and DU Recorder.

In October 2018, Move Inc., the operator of realtor.com and a subsidiary of News Corporation, acquired Opcity Inc. that offers market-leading real estate technology platform. This acquisition strengthens realtor.com marketing reach by generating leads to benefit consumers and professionals.

In October 2018, Advance Publications, Inc. acquired Stage Entertainment from CVC Fund VI and Joop van den Ende to strengthen its market reach for Advance Publication in the live entertainment segment.

In February 2018, Jake Brennan, the host and producer of the rock and roll true crime podcast “Disgraceland” partnered with iHeartMedia Inc. to provide two additional seasons of “Disgraceland” to the iHeartPodcast Network.

In April 2019, Discovery Inc. entered into a multi-year distribution agreement with YouTube. This agreement leads to the extension of Discovery’s portfolio of real-life passion brands to YouTube TV’s live TV and on-demand subscription service.

Market Segmentation

By Type – Book & magazine, Films and Theatrical, Social media, Music, Animation, Video Games, Outdoor Advertising, Radio and Broadcasting, Amusement park/facilities, Sports, Toys, and Art

By Application – Wired and Wireless

Key questions addressed by the report

What was the historic market size (2017)?

Which segmentation (Type / Application) is driving market?

What will be the growth rate by 2030?

Who are the key players in this market?

What are the strategies adopted by key players?

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Darlene Dooley is a research expert and freelance writer. She is very dedicated towards her work and writing. She enjoys to write on current news on any industry and conclude the news with highly professional report. She has almost 8 years of experience in the same field. She has strong professional skill in Market research, Business Strategies, online marketing, Industry analysis interested in innovative and trending technologies.

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