The Global Entertainment & Media (E&M) Revenue Projected To Reach US$2.6 Trillion In 2025

PALM BEACH, Fla., Nov. 22, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - More than a year into the most globally disruptive event of most consumers' lifetimes, COVID-19 remains the unavoidable force driving the dynamics of the media and entertainment industry. Although uncertainty persists due to varied vaccination rates and the risk of resurgent waves of infection from new variants of the disease, we forecast that the combination of vaccines and more developed virus control systems should support a tentative return to normal for most developed nations in the second half of the year. For the media and entertainment industry, consumers' desire to once again enjoy live music and cinema will be tempered by caution and ongoing venue capacity limitations. Habits accrued during long periods of lockdown and restrictions will remain embedded, and trends already developing prior to the pandemic – namely a growing shift towards digital products and online sales – accelerated by years. And while sectors like cinema, live music, and trade shows suffered unprecedented setbacks, the persistent growth of digitization softened the blow for the broader industry.  A recent report from PwC said that The global entertainment & media (E&M) industry has regained its momentum, with revenues outpacing the economy as a whole. The $2+ trillion industry is on track to grow 6.5% in 2021 and 6.7% in 2022, fueled by strong demand for digital content and advertising.  "From 2021 to 2025, we project global E&M revenue to grow at a healthy compound annual growth rate (CAGR) of 5.0%, taking industry revenues to US$2.6trn in 2025… Traditional TV/home video remains the largest E&M consumer segment (US$219.0bn).  Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Target Corporation (NYSE: TGT), Amazon.com, Inc. (NASDAQ: AMZN), Mattel, Inc. (NASDAQ: MAT), Walmart Inc. (NYSE: WMT).

It continued: "As more global regions emerge from lockdown and see increasing rates of vaccination, a forecast year-on-year rise of 6.5% in 2021 and a further 6.7% rise in 2022 will help drive total global E&M revenue to increase at a 5.0% five-year CAGR.  It concluded with a quote from Werner Ballhaus, Global Entertainment & Media Industry Leader Partner, PwC Germany, who said: "The pandemic slowed the entertainment and media industry last year, but it also accelerated and amplified power shifts that were already transforming the industry. Whether it's box office revenues shifting to streaming platforms, content moving to mobile devices, or the increasingly complex relationships among content creators, producers and distributors, the dynamics and power within the industry continue to shift. Our Outlook shows that the hunger for content, continued advances in technology and new business models and ways of creating value will drive the industry's growth for the next five years and beyond."