Global Movies and Entertainment Market Is Predicted to Grow Around USD 169.62 Billion By 2030

The global movies and entertainment market size was worth around USD 94.45 Billion in 2022 and is predicted to grow to around USD 169.62 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.21% between 2023 and 2030.

The movies and entertainment industry deals with the business of distributing, producing, and exhibiting television shows, movies, live performances, music, and other forms of entertainment to consumers. It includes a wide range of activities such as music production & distribution, film production, video game development & publishing, marketing and distribution, live events and ticketing, and more. The market works with the aid of traditional media channels such as broadcast television, cinemas, and radio, as well as newer digital platforms that have managed to change the way movies and entertainment programs are consumed. Some examples of new-age platforms are streaming services, social media, and mobile applications. It is a multi-billion dollar industry that has been in existence for close to a century and does not show any signs of stopping.

The global movies and entertainment market is projected to grow owing to the increasing consumption of media and entertainment programs across different platforms including theaters and over-the-top (OTT) platforms. The growth trend is further fueled by the increasing efforts of the production houses to improve movies or any other entertainment program-watching experience. They have been able to achieve this by investing in superior-grade technologies that improve the overall production quality of the program. Production companies have managed to create visually stunning and immersive content, which in turn has helped to drive audience engagement and growth.

In addition to this, these companies spend hefty amounts on marketing and promotions which aims to create curiosity amongst the target audience. Furthermore, the movies and entertainment industry has managed to become one of the few industries that offer a diverse range of products including movies, TV shows, live concerts, sports entertainment, and music to name a few. These segments further diversify into sub-segments. For instance, making use of social medical platforms, Spotify, podcasts, and other programs.

Although the growth in the global movies and entertainment market is exemplary, it does face multiple limitations with the major one being in terms of piracy-related complaints which are observed globally. It refers to the event of illegal distribution of movies and entertainment content and can lead to a significant loss of revenue for the production house and distributors. Apart from the monetary losses, it also leads to other damages such as a reduction in the perceived value of content. Industry players have been trying to curb this issue but have failed to completely eradicate it from the system.

The growing demand for original content could provide growth opportunities while the changing consumer preference may pose a major challenge.

The global movies and entertainment market is segmented based on mode of watching, product, and region.

Based on mode of watching, the global market segments are theaters and over-the-top platforms. In 2022, the highest growth was observed in the over-the-top platforms segment. The trend was set in motion during Covid-19 which led to theaters across the globe being shut for many months. This year saw a massive surge in the popularity and subscriber list of several OTT platforms. Witnessing the sudden demand, various domestic-level players entered the industry whereas already established business groups invested in further expansion. For instance, Netflix, one of the most popular OTT platforms, boasted of more than 209 million paid subscribers as of 2021, and the number has been rising since then. However, theaters continue to remain significant shareholders in the industry.

Based on product, the global market segments are music, movies, TV shows, and others. The industry witnessed the highest growth in the movies segment in 2022 followed by music and TV shows. Movies continue to remain one of the most preferred modes of entertainment for a large part of the population. Time and excellent strategic investment toward integrating advanced technology and movie-watching experience have resulted in more people spending extra to enjoy well-made movies. As per Box Office Mojo, Avengers: Endgame crossed more than USD 2.798 billion during its theatrical release in 2019.

During the forecast period, the global movies and entertainment market is projected to witness the highest growth in North America. The historical development of entertainment programs in the US and mainly its Hollywood area in Los Angeles has been the center of the movie industry revolution since its inception. The regional industry continues to influence other regional markets. The excellent infrastructure and long-standing history of the US in making the global market reach its current value remains indisputable. Furthermore, the increasing use of advanced technology in the entertainment industry to improve overall product quality is a major driving factor along with the presence of a large and affluent consumer base. The region has a robust financial system and hence the companies operating in the industry have easier access to necessary funds for production and marketing activities.

This review is based on a report by Zion Market Research, titled “Movies And Entertainment Market By Mode of Watching (Theaters and Over-the-Top Platforms), By Product (Music, Movies, TV Shows, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030.”- Report at https://www.zionmarketresearch.com/report/global-movies-entertainment-market

Recent Developments:

• In January 2023, Sony announced the launch of LME-FR7 which is an interchangeable lens camera that comes with built-in pan/tilt/zoom (PTZ) functionality and a full-frame image sensor
• In March 2023, Imax and Cineplexx Austria, leading theater chains, announced the expansion of their existing partnership directed toward a three-theater deal
• In February 2023, The CEO of Netflix stated that India was the fastest-growing market for the OTT platform considering the overall global scale

The global movies and entertainment market is led by players like:

• Universal Pictures
• Disney
• Netflix
• Warner Bros.
• 20th Century Studios
• Sony Pictures Entertainment
• Focus Features
• A24
• Paramount Pictures
• HBO
• Amazon Prime Video
• Legendary Pictures
• Hulu
• DreamWorks Animation
• Lionsgate
• Apple TV+
• MGM Studios
• Constantin Film AG
• Illumination Entertainment
• Blumhouse Productions
• Participant Media
• Pixar Animation Studios
• Open Road Films
• STX Entertainment
• Village Roadshow Pictures.

The global movies and entertainment market is segmented as follows:

By Mode of Watching

• Theaters
• Over-the-Top Platforms

By Product

• Music
• Movies
• TV Shows
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

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