In 2023, the value of the media and entertainment market reached 2.83 trillion U.S. dollars, experiencing a growth of five percent compared to 2022. In the following years the growth is set to slow down, but dollar figures are expected reach 3.4 trillion by the end of 2028. Entertainment and media market revenue – additional informationThe entertainment and media market encompasses every broadcasting medium from newspapers, magazines, TV and radio and popular forms of entertainment such as film, music and books.The compound annual growth rate of the entertainment and media spending worldwide has been predicted between 2022 and 2026, by sector. Projections indicated that the sector which will see the most compound annual growth rate will be data consumption, at 26 percent, followed by virtual reality, which will grow by 24 percent during the stated time. In comparison, newspapers and magazines publishing is expected to shrink on an annual basis by two percent in the same period.

The Media and Entertainment Industry Overview is Segmented by Type (Print Media (Newspaper, Magazines, Billboard, Banner, Leaflets & Flyers), Digital Media (Television, Music & Radio, Electronic Signage, Mobile Advertising, Podcasts), Streaming Media (OTT Streaming, Live Streaming)) and Geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia Pacific), Latin America, and Middle East and Africa). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

The market size of the arts, entertainment, and recreation industry in the United States grew by 8.8 percent in 2023 over the previous year, amounting to nearly 477 billion U.S. dollars. As forecast, this figure was expected to exceed 496 billion U.S. dollars in 2024.

The report covers Global Mobile Entertainment Market Trends and it is segmented by Type (Games, Video, Music), Operating System (iOS, Android), and Geography.

According to Cognitive Market Research, the global Electronic entertainment market size will be USD 295845.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 15.50% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 118338.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 13.7% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 88753.56 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 68044.40 million in 2024 and will grow at a compound annual growth rate (CAGR) of 17.5% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 14792.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 14.9% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 5916.90 million in 2024 and will grow at a compound annual growth rate (CAGR) of 15.2% from 2024 to 2031.
The games held the highest Electronic entertainment market revenue share in 2024.

Market Dynamics of Electronic entertainment Market

Key Drivers for Electronic entertainment Market

Expanding digital content libraries to increase the demand globally

Expanding digital content libraries significantly boosts global demand by offering a diverse array of entertainment options to cater to varied tastes and preferences. By continuously adding new movies, TV shows, games, and music, content providers keep audiences engaged and attract new subscribers. This extensive selection not only enhances user satisfaction but also drives higher subscription rates and longer engagement times. Moreover, a rich content library appeals to global audiences, breaking geographical and cultural barriers, and fostering international growth. As consumers increasingly seek personalized and on-demand experiences, a vast and varied content library becomes a crucial factor in meeting their evolving entertainment needs.

Increased internet penetration to propel market growth

Increased internet penetration is a key driver propelling market growth in the electronic entertainment sector. As high-speed internet becomes more accessible globally, it facilitates seamless streaming, gaming, and digital content consumption. This wider reach enables consumers in previously underserved regions to access online platforms and services, expanding the market's customer base. Enhanced connectivity supports richer, more immersive experiences, such as high-definition streaming and interactive gaming. Additionally, greater internet access encourages the development of new entertainment technologies and services, further stimulating market expansion. As connectivity improves, it unlocks new opportunities for growth, engagement, and revenue in the electronic entertainment industry.

Restraint Factor for the Electronic entertainment Market

Limited internet access in certain regions to limit the sales

Limited internet access in certain regions hampers the growth of the electronic entertainment market by restricting the availability and consumption of digital content. In areas with inadequate or unreliable internet infrastructure, users face challenges in streaming high-quality video, participating in online gaming, and accessing digital entertainment platforms. This lack of connectivity can lead to lower adoption rates of entertainment services and reduced market penetration. Consequently, content providers and technology developers may experience limited sales and revenue opportunities in these regions. Addressing these connectivity issues is crucial for unlocking market potential and achieving broader global reach in the electronic entertainment industry.

Impact of Covid-19 on the Electronic entertainment Market

The COVID-19 pandemic negatively impacted the electronic entertainment market by disrupting production schedules and delaying content releases. While there was a temporary surge in demand for streaming services and gaming as people sought indoor entertainment, the market faced significant challenges. Supply chain interruptions and remote work constraints hindered the development and distribution of new content and gaming hardware. Additionally, economic u...

In China, the market size of the pan-entertainment industry has seen steady growth in all three sectors for five consecutive years since 2015, amounting to 916.6 billion yuan in 2019, as measured by retail value. This growing trend was projected to continue, with a forecasted market size of 1.78 trillion yuan in 2024.

According to Cognitive Market Research, the global corporate entertainment market will be USD 815.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 21.20% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD 326.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 19.4% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD 244.56 million.
Asia Pacific held a market of around 23% of the global revenue with a market size of USD 187.50 million in 2024 and will grow at a compound annual growth rate (CAGR) of 23.2% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD 40.76 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.6% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD 16.30 million in 2024 and will grow at a compound annual growth rate (CAGR) of 20.9% from 2024 to 2031.
The sales in the live music segment are set to rise. For a good reason, live music is a popular choice for corporate entertainment. It can create a positive and memorable experience for guests, employees, or clients.

Market Dynamics of Corporate Entertainment Market

Key Drivers of Corporate Entertainment Market

Increasing Acceptance Of Interactive Videos to Increase the Demand Globally

One of the main drivers of expanding the corporate entertainment market is the increasing popularity of interactive videos. Professional growth is facilitated via interactive videos. These movies demonstrate skill development programs that make remote learning easier. Interactive films are a popular way for organizers of company conferences and annual meetings to share information with employees worldwide. These videos also aid in employees' comprehension of the company's future growth.

Interactive videos are highly sought after because they give consumers much freedom. Well-known websites that provide interactive learning options are Coursera and edX. When combined with corporate marketing and advertising, interactive videos are becoming increasingly popular in the corporate entertainment sector. Consequently, these factors impact the market's growth during the projection period.

Growing Interest in Online Activities to Propel Market Growth

The emergence of virtual reality (VR) is a product of technological progress. This is a relatively new trend in the entertainment industry, mostly seen in digital gaming. To collect money for their projects, manufacturers have turned to crowdsourcing techniques. This will enhance awareness among prospective clients and present numerous chances for smaller vendors to thrive in the fiercely competitive industry. The expansion of the corporate entertainment sector has been largely attributed to ongoing technological advancements. How people consume entertainment content has changed dramatically due to advancements in high-definition screens, virtual reality, augmented reality, and streaming platforms, among other areas. These developments created new chances for content producers and distributors and enhanced users' visual and auditory experience.

Restraint Factors Of Corporate Entertainment Market

Insecurity Regarding Return on Investment to Limit the Sales

A significant obstacle to expanding the worldwide corporate entertainment business is the lack of clarity regarding return on investment. Corporate events are becoming increasingly important to businesses to entertain staff members and boost productivity and income, despite these events demanding a large upfront cost. The organizing firms determine the budgets in terms of platforms and technologies. Before planning the event, the businesses must evaluate the service provider, determine whether the event's objectives align with those of the workforce, and ascertain which services are handling the event's organization. Before planning an event, businesses should evaluate the service provider, confirm that the event's objectives align with the workforce, and inspect the suppliers' offerings. The return on investment (ROI) is hard to determine since businesses view corporate entertainment events as a cost center. As a result, throughout the forecast peri...

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AI Market In Media And Entertainment Industry Size 2024-2028

The AI market in media and entertainment industry size is forecast to increase by USD 30.73 billion at a CAGR of 26.4% between 2023 and 2028. The market is experiencing significant growth, driven by the usage of multimodal AI to enhance consumer experience, analyze audience behavior, and automate content production. Multimodal AI, which combines text, speech, and visual data, is revolutionizing media and entertainment by enabling personalized recommendations, real-time sentiment analysis, and advanced content creation. Additionally, the utilization of blockchain technology is gaining traction in the industry, offering secure and transparent data sharing, and ensuring data privacy and security. Furthermore, the reliance on external sources of data to train AI models is a key trend, as media and entertainment companies seek to leverage diverse datasets to improve their offerings and stay competitive. These factors are expected to fuel market growth in the coming years.

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Artificial Intelligence (AI) is revolutionizing the media and entertainment industry by enhancing various applications, including game play, fake story recognition, plagiarism detection, production planning, talent discovery, and virtual creation. AI's integration in media and entertainment is enabling high-definition graphics, real-time virtual worlds, and internet video streaming on Ott platforms. In the gaming sector, AI is used to create intelligent opponents, personalize gameplay experiences, and analyze player behavior for sales and marketing purposes. Social media platforms leverage AI and Machine Learning (ML) for natural language processing to provide personalized content recommendations. AI is also transforming sports analysis by generating live footage and identifying patterns to enhance the online gaming experience. Overall, AI is a game-changer in the media and entertainment industry, offering innovative solutions in content creation, distribution, and consumption. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.

Further, AI-powered rendering engines can create lifelike visuals by analyzing data from real-world environments and applying it to virtual creations. This not only enhances the viewing experience for consumers but also reduces production costs by allowing for more efficient and cost-effective production. AI is also being used to improve the online gaming experience. Real-time virtual worlds can be created using AI, allowing players to interact with each other and their environment in a better way. AI-generated live footage is also being used to enhance sports analysis, providing more accurate and detailed information to broadcasters and fans. In the realm of sales and marketing, AI is being used to analyze consumer behavior and preferences to create targeted marketing campaigns.

AI-powered chatbots can interact with customers, providing personalized recommendations and support. Additionally, AI can be used to analyze social media trends and identify potential marketing opportunities. In conclusion, AI is transforming the media and entertainment industry in numerous ways, from gameplay and talent discovery to high-definition graphics and sales and marketing. As AI and ML technologies continue to advance, we can expect to see even more innovative applications in this industry.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Technology

  Machine learning
  Computer vision
  Speech recognition


End-user

  Media companies
  Gaming industry
  Advertising agencies
  Film production houses


Geography

  North America

    Canada
    US


  Europe

    Germany
    UK


  APAC

    China


  South America



  Middle East and Africa

By Technology Insights

The machine learning segment is estimated to witness significant growth during the forecast period. The media and entertainment industry has witnessed significant advancements with the integration of artificial intelligence (AI) and machine learning (ML) technologies. ML, in particular, has been instrumental in revolutionizing video data management and analysis. One illustration of this trend is the latest developments in object storage solutions, such as those provided by Wasabi Technologies. These solutions incorporate AI and ML capabilities for automated tagging of video data, facilitating efficient storage in S3-compatible object storage systems.

The India Media & Entertainment Market, valued at USD 30 Billion in 2024, is projected to reach USD 48 Billion by 2030, growing at a CAGR of 9.8% from 2025-2030.

The global movies and entertainment market is expected to expand from USD 105.63 billion in 2024 to USD 283.84 billion by 2037, demonstrating a CAGR of over 7.9% throughout the forecast period, from 2025 to 2037. Key industry players include Warner Media, LLC, Viacom18 Media Pvt. Ltd., Comcast Corporation, among others.

APAC M&E Sector Market Report is Segmented by Type (Business-To-Business (B2B), Book Publishing, Filmed Entertainment) and Country. The Market Size and Forecasts are Provided in Terms of Value (USD Million) for all the Above Segments.

Between 2024 and 2028, the entertainment and media market in the United Kingdom is expected to grow at a four percent compound annual growth rate (CAGR) and reach 121 billion British pounds. Shifting consumer habits shape the industry’s future The entertainment and media sector is a dynamic and fast-paced ecosystem that is constantly adapting to the ever-evolving needs and demands of consumers. As such, the industry contains some of the sectors most heavily affected by the coronavirus (COVID-19) pandemic, alongside others that were among its primary beneficiaries. For example, SVOD revenue in the UK jumped by approximately 27 percent amid national lockdowns during the first year of the pandemic, while UK box office revenues simultaneously plummeted by 76 percent. And even though some traditional media formats are already experiencing an uplift in demand and revenues, recovery is not equally as swift across the UK’s entire media and entertainment landscape. Media and entertainment is on a global upward path The continuous growth of the UK market is in line with overarching global industry trends. In 2023, the global entertainment and media market was valued at 2.8 trillion U.S. dollars, and according to the latest projections, this figure will reach 3.4 trillion by 2028. A more in-depth look at the future of the E&M industry reveals that virtual reality, cinema, and data consumption were expected to see the highest growth rates among all media and entertainment segments in the next few years, whereas traditional media such as newspapers are set to experience negative growth.

The Middle East Media and Entertainment Market is Segmented by Type (Digital Music (Music Downloads and Music Streaming), Video Games, Video-On-Demand (SvoD and TVoD, Video Downloads), E-Publishing, Advertising (Digital Advertising, Newspaper, Magazine, Television, Radio, and Outdoor Advertising), and Internet Access) and Country (Saudi Arabia, United Arab Emirates, Qatar, and the Rest of Middle East). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

According to recent calculations, the entertainment and media market grew by five percent in 2023 compared to 2022. The market growth is expected to slow down in the coming years at CAGR of four percent between 2024 and 2028.

The global Location-Based Entertainment Market is projected to reach USD 68.69 billion by 2034 With at a CAGR of 28.4% during the forecast period.

The Entertainment And Media Market is projected to grow at 7.4% CAGR, reaching $3825.97 Billion by 2029. Where is the industry heading next? Get the sample report now!

The Immersive Entertainment Market Report is Segmented by Application (themed Entertainment, Haunted Attractions and Escape Rooms, Immersive Theatre, Experiential Art Museums, and Other Applications (including Exhibitions, Etc. )) and Geography (North America, Europe, Asia-Pacific, Australia, New Zealand, and the Rest of the World). The Market Size and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

This statistic presents data on the revenue development of the entertainment and media industry in Germany from 2015 to 2023, with forecasts from 2024 to 2028. In 2025, revenues generated by the German entertainment and media industry were forecast to amount to almost 113 billion euros.

In 2024, the entertainment and media industry in Taiwan was projected to generate an annual revenue of roughly 21.2 billion U.S. dollars. Cinema, OTT video, and internet advertising would remain as the largest industry revenue contributors.

The Immersive Display in Entertainment Market Share size and share are expected to exceed USD 29.87 billion by 2034, with a compound annual growth rate (CAGR) of 23.7% during the forecast period.