Global Entertainment & Media Market is anticipated to grow USD 5,099 Million at a CAGR of 8.60% by 2030 - Report by MRFR
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Entertainment & Media Market1
Global Entertainment & Media Market Research Report: Information by Type (Books & Magazines, Films, Social Media, Music & Theater, Animation, Gaming & Gambling)
NEW YORK CITY, NEW YORK, UNITED STATES, April 19, 2023/EINPresswire.com/ -- Market Research Future InsightsAccording to MRFR analysis, the “global entertainment and media market” is expected to register a CAGR of 8.60% from 2022 to 2030 and hold a value of over USD 5,099.2 million by 2030.
The entertainment and media market refers to the industry that creates, produces, and distributes content for various forms of entertainment and media consumption, including television, film, music, publishing, video games, and digital media.
COVID-19 has had a significant impact on the entertainment and media market, causing disruptions in the production and distribution of content, as well as changes in consumer behavior. Many theaters, theme parks, and other entertainment venues were forced to close or limit capacity due to the pandemic, resulting in revenue losses for companies in the industry.
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The shift to remote work and increased time spent at home also led to changes in consumer behavior, with an increase in demand for streaming services and online content. This has resulted in a significant boost for companies that specialize in digital media, such as Netflix and Amazon Prime Video.
Regional Analysis
Regionally, the impact of COVID-19 on the entertainment and media market has varied. The North American market, which is the largest market in terms of revenue, was hit hard by the pandemic due to the closure of theaters and theme parks. However, the increase in demand for streaming services has helped to mitigate the losses.
In contrast, the Asia Pacific market has experienced growth despite the pandemic, driven by the increased adoption of digital media and the growth of the gaming industry. The Middle East and Africa market has also shown resilience, with the expansion of mobile networks and increased access to online content driving growth in the region.
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Market Segmentation
The Global entertainment and media market has been segmented into based on type and application.
Based on Type - Books & Magazines, Films, Social Media, Music & Theater, Animation, Gaming & Gambling, Outdoor Advertising, Radio Broadcasting, Amusement Park/Facilities, Sports, Toys and Art
Based on Application - Wired and Wireless
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Key players
Some of the top key market players are:
• News Corporation (US)
• Advance (US)
• iHeartMedia Inc. (US)
• Discovery Inc. (US)
• Warner Media LLC. (US)
• Verizon Communications Inc. (US)
• Alphabet Inc. (US)
• The Walt Disney Company (US)
• Baidu Inc. (China)
global entertainment and media market - "Press Release"
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