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What is the Projected Compound Annual Growth Rate (CAGR) of the Entertainment And Media Market from 2025 to 2034, and What Factors Influence It?

The size of the entertainment and media market has experienced significant growth in the past few years. The market, which is projected to expand from $2671.36 billion in 2024 to $2871.79 billion in 2025, has a compound annual growth rate (CAGR) of 7.5%. Factors such as the increased use of smartphones, the impact of social media, the prevalence of streaming services, content customization, and content globalization have contributed to the growth during the historic period.

Anticipations are high for significant expansion in the entertainment and media market within the ensuing years, projected to reach $3825.97 billion by 2029 with a 7.4% compound annual growth rate (CAGR). This predicted expansion during the forecast period is due in part to the uptake of subscription-based models, developments in live events, podcasting surges, engagement with interactive and immersive content, commitments to sustainability in the entertainment sector, and legislative shifts. Key trends during this forecast timeline encompass the use of blockchain within media, the implementation of artificial intelligence (AI) and machine learning, the rise of remote production technologies, the application of augmented reality (AR) and virtual reality (VR), and the evolution of the metaverse.

Which Major Market Drivers Are Expected to Boost the entertainment and media Market’s Growth Potential?

The escalating prevalence of smartphones is anticipated to stimulate the expansion of the entertainment and media market. Smartphones, being portable electronic devices, allow users to browse the internet, communicate via text, and make phone calls. Their enhanced mobility and connectivity enable users to access information and entertainment virtually anywhere and at any time. Therefore, this growing prevalence of smartphones is set to boost the entertainment and media market’s growth. For instance, a 2022 report by Uswitch Limited, a UK-based online and telephone comparison and switching service, recorded 71.8 million active mobile connections. By 2025, the UK population is projected to be 68.3 million, with 95% owning smartphones. Furthermore, Catch Connect, an Australian mobile plans provider, estimated in April 2022 that roughly 79.60% of the Australian population used smartphones. The count of smartphone users is anticipated to hit 2.8 million by 2022. Hence, this escalating prevalence of smartphones is catalyzing the expansion of the entertainment and media market.

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Who Are the Leading Players Fueling Growth in the Entertainment And Media Market?

Major companies operating in the entertainment and media market include:

• Comcast Corporation

• Grupo Televisa S.A.B.

• Vivendi SE

• The New York Times Co.

• Viacom 18 Media Pvt. Ltd.

What Are the Emerging Trends Shaping the Future of the Entertainment And Media Market?

A key trend emerging in the entertainment and media sector is the increasing uptake of advanced technology. To maintain their market position, firms in this sector are zeroing in on embracing the latest technologies. HCL Technologies, an Indian company that provides Information Technology services, offers a great example of this trend. In April 2022, they launched the All-Access Media Marketplace Platform. This platform simplifies the content development process across pre-production, production, and post-production stages in the media and entertainment industry. The HCL Workflow Creator functions as an interface between machines and humans, aiding in the formulation of software-defined workflows and facilitating the safe relay of information from the set or studio to data centers, shared space providers, cloud-based tools (SaaS), and hyperscalers through telcos and transporters. This solution was crafted in association with Microsoft and CoreSite, a firm under American Tower Corporation (“CoreSite”), to tackle workflow development, applications, and vendor discovery issues often encountered by media creators.

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How Are the Key Segments of the Entertainment And Media Market Driving Opportunities and Innovations?

The entertainment and media market covered in this report is segmented –

1) By Product: Film, Music, Social Media, Video And Animation, Video Games, Other Products

2) By Revenue Type: Advertisement Revenue, Subscription-Based Revenue, Other Revenues

3) By Application: Wire, Wireless, Other Applications

Subsegments:

1) By Film: Feature Films, Documentaries, Short Films, Animated Films

2) By Music: Recorded Music, Live Music Performances, Music Streaming Services, Music Publishing

3) By Social Media: Social Networking Platforms, Content Creation and Sharing Platforms, Influencer marketing

4) By Video And Animation: Online Streaming Videos, Animated Series And Shorts, Corporate And Promotional Videos

5) By Video Games: Console Games, PC Games, Mobile Games, Virtual Reality (VR) Games

6) By Other Products: E-books, Podcasts, Live Events And Experiences, Merchandise

Which Regions Are Driving Growth in the Entertainment And Media Market?

North America was the largest region in the entertainment and media market in 2024. The regions covered in the entertainment and media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

What Defines the Scope of the Entertainment And Media Market?

Entertainment and media refer to the broad range of industries encompassing various forms of communication and entertainment, including television, film, radio, music, publishing, advertising, and digital media. It creates, produces, and distributes content that informs, entertains, and engages audiences across various platforms and channels.

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