global movies and entertainment market was valued at 80.98 billion in 2016 and is anticipated to continue with the winning streak in the forecast period. Rising popularity of 3D movies enable virtual reality for audience. Video streaming services, digitization and showcasing filtered content are likely to contribute to the market growth in the forecast period. Upgradation in technological infrastructure for digitization of cable services is likely to open new ventures for movies and entertainment market.
However, overseas trade barriers,
non-English speaking communities, unevenness of monetization, and money
rotation in certain markets coupled with piracy rackets and black economy are
likely to hinder the growth for movies and entertainment market in the forecast
period upto 2025.
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Movies and entertainment market at an
international level is expected to gain a wider attention due to government
flexibilities and consumers’ demand for authentic content. United Kingdom being
the topmost and robust market for movies and entertainment industry accounts
for a major share and being an English speaking country leverages international
trade practices. India and China stand second and third in the global market
scenario due to significant potential in local markets, rise in FDI, rise in
middle-class consumers for daily soaps and TV serials. Also, the market is
flourishing due to rise in innovative mode of channels.
Music industry also witnesses rise of
several opportunities but encounters the threats of piracy in the major
geographical markets. Music sector being a highly volatile market enables the
market players to look for innovative techniques to monetize the opportunities.
In comparison with music, publishing industry witnesses a boom in major
geographical markets owing to digitization and growth in number of e-readers.
Tablets, smartphones, and laptops are still paving the way for new market
entrants.
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Geographical segmentation for market
includes North America, Latin America, Europe, Asia-Pacific, Middle East and
Africa. North American market is sub-divided into two hubs, namely, the Los
Angeles Community and the New York City with respective regional hubs. In
addition, media, entertainment, communications and high-tech industries are
blending to create new hubs.
U.S. regions enjoy the most lucrative market
positon owing to enhanced production infrastructure, filming incentives, and
small clusters involved in film production. Subsequently, consumers’ access to
media and entertainment via video and music content is likely to augment the
market in the forecast period.
Asia-Pacific’s market is expected to gain a
leading market position owing to rise in entertainment industry offering
content streaming services. Other factors such as proliferation of devices and
subscription to filtered content are expected to contribute to the market
growth. Augmented and virtual reality is trending in APAC’s movies and
entertainment market not only in M&E but is also expanding in the other
sectors too. Rise in number of stage artists, film artists, film creators, and
business executives is fueling the market growth in APAC sector.
The key players in the movies and
entertainment market include CBS Corporation and CBS Broadcasting Inc., Sony
Corporation, Disney, Time Warner, 21st Century Fox, Viacom Inc., Comcast
(NBCUNIVERSAL MEDIA, LLC. & DreamWorks Animation LLC.
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