Movies and Entertainment Market Size, Share, Growth, Trends and Industry Statistics Report
by Susan Hill Business ConsultantGlobal movies & entertainment market is estimated to
reach USD 114.93 billion by 2025, according to a new report by Grand View
Research, Inc. Introduction to newer marketing and distribution platforms such
as IPTV, digital newspapers, DTH, digital cable, and online sales of music
& movies is anticipated to boost industry progress.
Decline in
revenue growth in mature markets such as the U.S. and few European countries is
witnessed. Major players have adopted strategies like regional expansion and
distribution partnerships for expansion to untapped markets. These players have
shifted their focus on the production of regional content to establish a strong
connection with the audience in these markets.
Big studios
are witnessed to adopt enhanced marketing strategies that use advanced digital
technology for communication. Investment in promotional activates has increased
drastically. Introduction of improved promotional channels is expected to
positively influence revenue growth.
Rapid
increase in streaming of music has created new opportunities for players to
expand their business. Reduction in piracy rates due to the emergence of online
streaming service providers is anticipated to prevent loss incurred by artists
and producers.
The market
has a low competitive rivalry due to the presence of a broad range of audience
with different tastes. However, players need to compete to gain large share
revenue by attracting more audience. Key players concentrate on establishing a
strong connection with the audience through promotional events, consumer goods,
and television shows.
Lucrative
growth in Asia Pacific countries such as China, South Korea, and India is
projected. This is due to the presence of higher young population, rapid
adoption of digital technology, and increased disposable income of families in
these countries.
Further key
findings from the study suggest:
- Movies
dominated the market with 56.1 % share revenue in 2016.
- Innovation in
the production of movies through advanced graphics techniques contributes
to lucrative growth.
- Release of 3D
motion pictures with sound & visual effects giving users the
experience of virtual
reality is anticipated to positively influence revenue growth.
- Music &
video are poised with fastest growth rate owing to the rapid adoption of
online streaming by the audience.
- Emergence of
online streaming service providers reflects decline in piracy rates in
developed regions.
- Influence of
Hollywood on other regional cinemas is expected to drive progress in other
countries.
- Efforts to meet
higher quality standards and expectations of the audience is attributive
to this progress.
- Dominance of
Hollywood in the global market is a major factor that contributes to the
largest revenue share of North America in 2016.
- However, close
competition to Hollywood from emerging markets such as China and India is
projected to drive growth for APAC region.
- Key players
operating in this industry include CBS Corporation and CBS Broadcasting
Inc., Sony Corporation, Disney, Time Warner, 21st Century Fox, Viacom
Inc., Comcast (NBCUNIVERSAL MEDIA, LLC. & DreamWorks Animation LLC.).
- Major players
focus on the development of regional content to grab the untapped markets.
Access
full research report on global movies & entertainment market:
www.grandviewresearch.com/industry-analysis/movies-entertainment-market
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Created on Nov 19th 2019 01:34. Viewed 461 times.