The UK’s multi-billion entertainment and media industry is set to grow in the coming years, making it one of the largest markets in Europe, according to research published today. The industry is constantly innovating and bringing new applications to the market. shaping the entertainment and media industry in South Africa, Nigeria, Kenya, Ghana and Tanzania 8th annual edition September 2017 Entertainment and media outlook: 2017 2021 An African perspective. The U.S. media and entertainment (M&E) industry is the largest in the world. The global media and entertainment industry will be a driver of emerging technologies the frontier of which will be led by Augmented and Virtual Reality. Global is the leading outdoor media company in the UK and one of the largest in Europe, with an extensive portfolio of over 253,000 sites combining airports, roadside posters, premium digital screens and more. 'result' : 'results'}}. All rights reserved. Moreover, the shift in consumer demand for personalization is putting constant pressure on entertainment companies to drive innovation and embrace new technologies. Our mission is to help leaders in multiple sectors develop a deeper understanding of the global economy. Please see www.pwc.com/structure for further details. These trends are backed by the increasing shift towards mobile data consumption which is estimated to exceed that of fixed broadband in the year 2020. The shift to digital platforms for media consumption implies that demand for data will continue to grow. By 2021, Indian media and entertainment industry will reach Rs 2.35 trillion. McKinsey’s Global Media & Entertainment Practice helps leading media companies address the industry’s challenges – including approaches for achieving sustainable growth, creating value from digital opportunities, enhancing consumer spend and advertising revenues, and transforming media processes. Global Entertainment & Media Industry Leader, PwC Germany, Global Outlook Support Team, PwC United States. While the slowdown in the global economy owing to the Coronavirus pandemic is expected to take a toll on the overall growth of the M&E industry globally, higher time spent by individuals at home due to the lockdown in different parts of the world is expected to continue to support the digital and video-streaming platforms. Nonetheless, actual reality is that digital media is disrupting the industry and players in the traditional industry are losing the market. In addition, AI also assists companies in streamlining both pre as well as post-production processes, thereby making all steps cohesive and therefore less resource consuming. At present, advertising revenue accounts for around 0.38% of India’s gross domestic product. Kevin Westcott, Deloitte’s US Tech, Media, and Telecom leader, explores the biggest media trends for 2021 and shares his entertainment industry analysis. With the incorporation of AI and virtual reality, publishers can personalize content resulting by maximizing its impact on the consumers. PwC’s Global Entertainment & Media Outlook provides a single comparable source of consumer and advertiser spending data and analysis. China’s absolute growth in the entertainment and media industry is expected to exceed that of the United States for the first time ever. The entertainment and media (E&M) sector will be worth £76 billion by 2021, up from £68bn this year, according to accountancy giant PwC’s latest Global Entertainment & Media (E&M) Outlook 2018-2022. Consumer habits can take a lifetime to learn – but just a lockdown to lose. While the ever-changing trends in the industry have allowed for several growth opportunities for the industry players, they also pose several challenges due to the continuous pressure of increasingly being able to satiate consumer experience. From online streaming platforms disrupting the music industry by brutally challenging the traditional radio medium, to OTT (over-the-top) content providers rattling the once stronghold of the conventional TV, the world is watching a revolution unfold in the entertainment industry. The media industry is evolving at an exceptional level, and with increased usage of smartphones and digital media, a number of consumers are getting connected to a new entertainment world enabled by disruptive technologies. Mergers and acquisitions are top of the agenda again for a media and entertainment industry looking to accelerate growth and the move to digital. In 2023, the global entertainment industry is expected to reach a worth of 2.6 trillion U.S. dollars. Streaming services are capturing the whole industry and accounted as critical platforms for marketing. But that was a consequence of the price-barrier of standalone AR/VR devices, which is also beginning to get pocket-friendly. As per some estimates, the US M&E industry is said to be the largest globally, clocking in revenues to the tune of US$ 735 bn annually, contributing approx. 2018 witnessed the rising popularity of viewing sports on both new devices as well as platforms whilst social media evolved into an entertainment hub. At $717 billion, it represents a third of the global M&E industry, and it includes motion pictures, television programs and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and products. Since spring 2020, the COVID-19 pandemic has been accelerating structural challenges and trends that have long faced the media and entertainment (M&E) industry. Meanwhile, new disruptors are putting pressures on the business, from generating profitable growth to talent acquisition. Brandwatch data reveals some of the biggest consumer trends for the entertainment industry as we head into 2020. Privacy Policy | McKinsey Global Institute. S&P Global Ratings 1 naveen.sarma@ Industry Top Trends 2019 Media and Entertainment November 13, 2018 Key Takeaways – Ratings Outlook: Rating trends remain broadly stable but negatively biased due to the convergence of content and distribution, ongoing secular shifts in media consumption and advertising spending, and The media & entertainment market landscape is highly competitive and consists of some of the prominent players leading across the industry. Media rights is the fastest-growing sub-sector of the US eSports market, rising at a 17.5% CAGR, though still trailing sponsorship revenues growing at a 11.7% CAGR. Industry Top Trends 2020: Media and Entertainment S&P Global Ratings November 19, 2019 4 expected to spend approximately $14 billion-$15 billion on content in 2019, up from $12 billion in 2018. a third to the global M&E industry. Blockchain is eliminating the middlemen from the distribution channel by offering more equitable system for creators, producers and consumers. Site map, Copyright © 2020 Televisory | All Rights Reserved. In fact, as per PWC’s Global Entertainment & Media Outlook Report 2019-2023, in 2018, revenue earned from mobile internet advertising exceeded its wired equivalent for the very first time. As in previous years, we’ve taken a deep dive into our wealth of detailed data, forecasts and analyses, and created new perspectives and insights to help you shape your strategies for years ahead. The industry is under transformation phase with both the traditional and the emerging models continue to coexist led by multiple devices and platforms, digitization as well as globalization of services which have remodelled the entire M&E segment over the past decade. The ever-changing trends, specifically in the entertainment industry, have transformed the way in which people consume content via new platforms, mediums as well as features. The global media and entertainment industry is predicted to contract by 5.6 per cent during 2020 according to the annual Global Entertainment & Media Outlook 2020–2024 report by PWC. In terms of market share, some of the major players currently dominate the market. According to the analysts, amid a global recession, 2020 will see the sharpest fall in global E&M revenue in the 21-year history of its research, dropping more than $120 billion in absolute terms. It is the owner of the largest commercial radio company in Europe having expanded through a number of historical acquisitions, including Chrysalis Radio, GCap Media and GMG Radio. By the help of the consumer engagement, the companies are able to improve the commercial success on their business front. The Global Media and Entertainment industry, one of the largest in terms of revenue and market size, is made up primarily of five distinct sub-segments– including TV, film, video games, publishing and music. The increasing need for personalization will continue to be critical for every M&E player in the industry. Internet advertising The United States remains the largest global internet advertising market, despite shrinking 3.4% from US$125.2bn in 2019 to US$121.0bn in 2020 as brands cut advertising spend amid the COVID-19 pandemic. Terms of Use | McKinsey Quarterly. The media and entertainment industry in India consists of many different segments under its folds such as television, print, and films.It also includes smaller segments like radio, music, out-of-home advertising, animation, gaming and visual effects (VFX) and internet advertising. In our 2020 Global Entertainment & Media (E&M) Outlook, we predict that total E&M revenues in the UK will rise at a compound annual growth rate (CAGR) of 2.8% to reach £79.8bn in 2024. Together, our outdoor inventory reaches over 95% of the UK population and beyond. Regardless of how you influence business decisions, the Outlook can help you understand industry trends so you can capitalise on new opportunities. Based on the Media & Entertainment Outsourcing industrial chain, this report mainly elaborates the definition, types, applications and major players of Media & Entertainment Outsourcing market in details. Global Entertainment & Media Outlook 2020–2024 Pulling the future forward: The entertainment and media industry reconfigures amid recovery Five-year projection of consumer and advertiser spending data across 14 segments and 53 territories For instance, with the new wave of the popularity of video gaming and video streaming, advertisers as well as other publishers are increasingly moving to digital platforms. Growing blockchain technology – this trend came out as a radical change as it is helping companies that are financially divested from the distributors and various labels. The COVID-19 pandemic has accelerated and amplified ongoing shifts in consumers’ behaviour, pulling forward digital disruption and forcing industry tipping points that wouldn’t have been reached for many years. The “Global Media and Entertainment Storage Market 2020-2024” report has been added to ResearchAndMarkets.com’s offering. Global (also known as Global Media & Entertainment) is a British media company formed in 2007. Furthermore, it can help in bringing in decentralization and efficiency in M&E industry. Terms of Access | The past few years have seen much hype but less adoption of AR/VR. The media and entertainment industry is squaring up to the challenges of shifting customer demands, technology innovation, regulatory and policy upheaval, and a strategic reshaping of the competitive landscape. Our Global Media Report 2016 is just one of the tools we have developed to help our clients better … The Global Media and Entertainment industry, one of the largest in terms of revenue and market size, is made up primarily of five distinct sub-segments– including TV, film, video games, publishing and music. In the current year (2020), it is rather clear that the growth of video streaming will continue to show decent growth. However, with the advancement in the emerging network technology (5G) across the OTT services, new players are increasing their market presence thereby expanding their … Extended reach means more data which implies towards employment of big data technology to gain better insights into services provided. As the streaming wars continue to intensify, industry players have deployed new technologies in order to reach out to their broader customer base: Thriving popularity of Artificial intelligence (AI) – The M&E industry is poised to look on to a major transformation due to the advent of transformative technologies such as AI, which has been deployed by several companies in the entertainment industry in order to make personalized recommendations based on consumer usage and further making the system more effective for content creation. Now in its 21st year, this year’s Outlook takes into account the effects of COVID-19 on the entertainment and media industry. 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