USD 90.92 billion
Report ID: SQMIG25H2030 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 60 | Figures: 75
Movies and Entertainment Market size was valued at USD 90.92 billion in 2021 and is poised to grow from USD 97.47 billion in 2022 to USD 169.68 Billion by 2030, growing at a CAGR of 7.2% in the forecast period (2023-2030).
The global movies and entertainment market is growing as a result of favorable demographics, changing consumer preferences, rising disposable incomes, and a desire to spend money on entertainment and leisure. The COVID-19 epidemic, however, has had a negative effect on the market's expansion. The closure of theaters as a result of COVID-19 standards implemented in multiple countries had an impact on the market's expansion. For instance, starting in mid-March 2020, roughly 10,000 movie theaters will be closed, according to a blog post by Livemint. A significant American movie theater company also announced that it would temporarily close hundreds of its facilities in the United States and the United Kingdom.
Moreover, the market is anticipated to be driven by the increasing popularity of 3D films that give viewers a virtual reality experience. (VR). It is projected that new marketing and distribution channels, including IPTV, digital newspapers, DTH, and digital cable, as well as online music and movie sales, will hasten industry expansion.
Additionally, the availability of music and video content on streaming platforms increases the availability of music for everyone, anywhere. Other advantages of streaming platforms, such as the significantly better sound quality of streamed content, are fostering the market's expansion. In addition, users may simply make their own audio and video playlists, therefore increasing the popularity of these platforms among millennials is likely to favor the market's growth.
The availability of an audience via numerous platforms, such as television and the internet, has led to the emergence of new talent. Increased internet and mobile communication use in countries like China, South Korea, and India is a key factor in the success of growing businesses. Due to growing demand and quick growth in Asian nations, the global market stagnation imposed on by the development of key markets like the United States has to be overcome.
Due to high levels of piracy and low profit margins from global internet streaming, revenue creation is constrained. It is being observed that there are currently additional competitors in the online streaming market. Losses for the participants are anticipated to be decreased through advances in security measures and stricter legal sanctions against piracy.
US Movies and Entertainment Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 90.92 billion
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The global movies and entertainment market is segmented on the basis of product, application, and region. In terms of product, the market is segmented into movies and music & videos. Based on application, the market is segmented into residential and commercial. Geographically, the global movies and entertainment market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Movies and Entertainment Market Analysis by Product
The movies segment led the market in terms of revenue in 2021, holding a share of 55.4%. Over the years, movies have largely influenced the cultures of the world. In most nations, films have become the main form of entertainment due to its prominence in people's lives. Additionally, improvements in quality, faster production, and better storage options are fueling the expansion of the movie market. Product announcements and other strategic initiatives are assisting businesses in meeting changing client needs and gaining an advantage over rivals. For instance, the newest foreign films are available through a new theater service that beIN Media Group, LLC established in April 2020. In order to deliver the newest movies directly to members before they are viewed in theaters, the firm announced a groundbreaking partnership with film distributors.
Music and videos are anticipated to grow at a CAGR of 7.5% during the projection period. This positive rise may be related to a change in the ways that music labels operate, such as their cooperation with internet streaming services and radio broadcasters. For instance, in November 2021, Spotify and Netflix collaborated to enter the audio sector. Netflix hopes to do this by consolidating the audio productions related to its programming.
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North America dominated the global movie and entertainment business in 2021 with a 34.5% market share. This is true since Hollywood has the longest-running film business in the world. The greater percentage of screens in the region also adds to its higher revenue share. In 2020, there will be 40,998 movie screens in the United States, according to the National Association of Theatre Owners.
Asia Pacific is predicted to have the highest CAGR of 8.2% between 2022 and 2030. The rise is mostly due to consumers spending more money on leisure and recreation. Additionally, the industry is growing since major firms are turning their attention to developing nations like India.
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Movies and Entertainment Market Drivers
Rising Demand for High-Quality Content
Growing Popularity of Social Media
Movies and Entertainment Market Restraints
High Production Costs
Regulatory and legal challenges
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A small number of well-established players and recent entrants define the industry. The expanding trend of entertainment and cinema has attracted the attention of many major players. In order to maintain market share, players in the sector are broadening the services they offer.
Movies and Entertainment Market: Top Player’s Company Profiles
Movies and Entertainment Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, we found that the Movies and Entertainment market is anticipated to be driven by the increasing popularity of 3D films that give viewers a virtual reality experience. (VR). It is projected that new marketing and distribution channels, including IPTV, digital newspapers, DTH, and digital cable, as well as online music and movie sales, will hasten industry expansion. Due to high levels of piracy and low profit margins from the internet streaming, revenue creation is constrained. It is being observed that there are currently additional competitors in the online streaming market. Losses for the participants are anticipated to be decreased through advances in security measures and stricter legal sanctions against piracy.
|Market size value in 2021||USD 90.92 billion|
|Market size value in 2030||USD 169.68 Billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Movies and Entertainment Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Movies and Entertainment Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Movies and Entertainment Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Movies and Entertainment Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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