Media & Entertainment Market Landscape - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Media & Entertainment Market Landscape - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Media & Entertainment Market Landscape is expected to register a CAGR of over 13% during the forecast period (2021 - 2026). The rapid evolution of technology has transformed the media and entertainment industry, along with the integration of new disruptors for generating profitable growth across the sector.

Key Highlights

• The emergence of social media is disrupting the industry and players in the traditional industry are switching towards digital platforms, thereby increasing their ads spend on the digital media due to which the industry is significantly benefitted by digital tools and platforms thereby facilitating efficient production, distribution, and consumption of content revolutionizing the market growth.
• With the emergence of digital behavior, subscription models are playing a primary role in the monetization of the digital platform with evolving technologies thereby creating opportunities for comp.anies in the media and entertainment industry to achieve greater operational efficiencies.
• Also, smartphone penetration along with low data tariff, as well as investments in original and regional digital content, are some of the favorable factors for digital access and content supply respectively, for driving the online consumption across the media & entertainment industry.

Key Market TrendsStreaming Media Sector is Gaining Traction Due to Emergence of OTT Media Across Online Platform

• In the recent past, several live streaming virtual multichannel video programming distributors (MVPDs) had launched multiple offerings with a combination of live networks and on-demand contents.
• With consumers across all age groups streaming more content than ever before, there is an ongoing dynamic shift from traditional pay TV, to subscription-based paid streaming video services along with the growth in the number of smartphone & tablet devices.
• The rising popularity of high-quality videos in terms of their clarity is expected to boost the demand for better streaming media services. Furthermore, the focus of the OTT service providers such as Netflix and Amazon towards providing 3D movies along with the increasing popularity of 4K UHD content will be primary growth for the global media and entertainment contents thereby influencing the market’s growth positively.

North America to Register the Largest Growth Region During the Forecast Period

• The North America media and entertainment industry is the largest growing industry that includes motion pictures, television programs & commercials, streaming content, music & audio recordings, broadcast, radio, book publishing, along with the evolving social media presence over the region.
• Integration of new OTT services across the already existing subscription-based streaming devices among the US household is expected to drive the media & entertainment sector across the region. For instance, Comcast announced in summer 2018 to add Amazon Prime Video to the online content available through its service thereby enhancing the application of the OTT media, which already includes streaming services such as Netflix, YouTube, and Pandora.
• Further, According to the American media measurement and analytics company comScore, Netflix capture 74% of the total penetration of US OTT household, followed by Youtube with 54% and Amazon by 33% penetration. Such high deployment of the OTT services across the region is expected to drive the demand of the video & entertainment industry.

Competitive Landscape

The media & entertainment market landscape is highly competitive and consists of some of the prominent players leading across the industry. In terms of market share, some of the major players currently dominate the market. However, with the advancement in the emerging network technology (5G) across the OTT services, new players are increasing their market presence thereby expanding their business footprint across the emerging economies.

• October 2019 - HarperCollins Publishers acquired world rights to Back, the first-ever memoir authored by Tiger Woods, one of the most storied and accomplished athletes in history. The deal was negotiated by Executive Editor Shannon Welch at HarperOne and Judith Curr, President and Publisher, HarperOne Group.
• May 2019 - The Walt Disney Company and Comcast Corporation announced that Disney will assume full operational control of Hulu, effective immediately, in return for Disney and Comcast entering into a put/call agreement regarding NBCUniversal’s 33% ownership interest in Hulu.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

News Corporation
DreamWorks Animation SKG
Eros International PLC
Discovery Communications Inc.
Warner Media LLC
Comcast Corporation
Viacom Inc.
Walt Disney Company
Facebook, Inc.
Pearson PLC
Bertelsmann SE & Co. KGaA
Axel Springer SE
Ogilvy & Mather Pvt Ltd.
Dentsu Inc.
BBDO Worldwide

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