The global entertainment & media (E&M) industry is thriving, with revenues reaching $2.8 trillion in 2023 and projected to hit $3.4 trillion by 2028, according to PwC’s Global Entertainment & Media Outlook 2024-28. Advertising revenue is set to exceed $1 trillion in 2026, with streaming services exploring new models to drive growth amidst increasing competition. The gaming industry continues to grow rapidly, driven largely by the Asia-Pacific region, while in-person events like global cinema and live music are rebounding. Market players are looking to Generative AI to innovate and transform business models.
Advertising revenue is expected to grow at a 6.7% compound annual growth rate (CAGR) through 2028, with internet advertising playing a significant role. Streaming services are focusing on new revenue streams beyond subscriptions, including ad-based models and live sports. Global gaming revenue is on track to surpass $300 billion by 2028, with Asia-Pacific leading the way.
In-person events like live music and global cinema are experiencing growth, with global cinema revenues expected to exceed pre-pandemic levels by 2026. Leveraging new technologies like Generative AI is crucial for the E&M industry to thrive in the digital age.
To stay competitive in the evolving E&M landscape, companies must reimagine their business models and embrace new opportunities. By tapping into the power of technologies like Generative AI, market players can create value, innovate, and connect with consumers in new and meaningful ways.
For a comprehensive analysis of the global E&M industry and insights into future trends, refer to PwC’s Global Entertainment & Media Outlook 2024-28. Stay ahead of the curve and explore the full report at http://www.pwc.com/outlook.
About PwC: PwC is a leading global professional services firm with a focus on helping businesses navigate the challenges and opportunities presented by the ever-changing E&M landscape. Visit http://www.pwc.com for more information on how PwC can support your business growth.
(Source: PwC)
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