Global Movies and Entertainment Market Growth Analysis With Investment Opportunities
Movies And Entertainment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
The Business Research Company's Movies And Entertainment Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LANDON, GREATER LANDON, UK, June 26, 2024 /EINPresswire.com/ -- The movies and entertainment market1 encompasses a diverse array of activities and media designed to entertain, educate, and engage audiences worldwide. It serves as a cultural expression and leisure activity, offering both escapism and social interaction.
Market Size
The movies and entertainment market has experienced robust growth, increasing from $95.36 billion in 2023 to an estimated $103.76 billion in 2024, marking a compound annual growth rate (CAGR) of 8.8%. This growth is attributed to innovations in cinematic technology and storytelling, the influence of celebrities, globalization of the film industry, and the rise of blockbuster films. Looking forward, the market is projected to grow to $140.18 billion by 2028, with a CAGR of 7.8%. Factors driving this growth include the dominance of streaming services, the production of original content, integration of virtual reality (VR), and increased consumer demand for convenience.
Driver: Rising Presence of Online Video Platforms
The expansion of online video platforms is a significant driver propelling the movies and entertainment market. These platforms enable global access to a wide range of content, making movies and entertainment more accessible than ever before. In 2021 alone, global audiences spent approximately 548 billion hours streaming content via mobile devices, highlighting the growing popularity and reach of online video platforms.
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Major Players and Market Trends
Key companies driving the movies and entertainment market include Amazon.com Inc., Apple Inc., The Walt Disney Company, Netflix Inc., and others. These companies are focused on developing advanced solutions such as streaming and playout SaaS (Software as a Service) to enhance service delivery and customer satisfaction. For example, Evertz launched evertz.io in October 2021, a streaming and playout SaaS offering extensive video handling capabilities and compatibility with high-definition formats like 4K UHD and HDR.
Segments:
The movies and entertainment market covered in this report is segmented –
1) By Type: Print Media, Digital Media, Streaming Media
2) By Mode Of Watching: Theatres, Over-The-Top Platforms
3) By Application: Residential, Commercial
Geographical Insights: North America Leading the Market
North America emerged as the largest region in the movies and entertainment market in 2023, driven by technological advancements and substantial consumer spending. Meanwhile, Asia-Pacific is expected to witness the fastest growth during the forecast period, fueled by increasing internet penetration and rising disposable incomes.
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Movies And Entertainment Global Market Report 20242 from TBRC covers the following information:
Market size data for the forecast period: Historical and Future
Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Trends, opportunities, strategies and so much more.
The Movies And Entertainment Global Market Report 2024 by The Business Research Company3 is the most comprehensive report that provides insights on movies and entertainment market size, movies and entertainment market drivers and trends, movies and entertainment market major players, competitors' revenues, market positioning, and market growth across geographies. The movies and entertainment market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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