Media And Entertainment Industry Statistics By Region, Market Leaders, Revenue, Usage, Country and Trends

Introduction

Media and Entertainment Industry Statistics: The media and entertainment industry is one of the fastest-changing sectors in the global economy. It covers many areas like movies, TV, streaming, social media, music, video games, and live events. In 2024, this industry is set to grow a lot, thanks to new technology like virtual reality (VR), augmented reality (AR), and 5G.

More people are also choosing subscription-based services and on-demand content. Sustainability and personalized content are in increasing demand, too, making this industry important for both culture and the economy. The industry influences trends and behaviors worldwide and boosts the economy through advertising, content creation, and tech use. This article will explain the global market trends and insights from recent years.

Editor’s Choice

• Media and Entertainment Industry Statistics show that by the end of 2024, the global media and entertainment market is expected to earn USD 2.96 trillion in revenue.
• The United States leads the global media and entertainment market, accounting for 33% of the total revenue worldwide.
• The video streaming industry is expected to make more than USD 130 billion in revenue.
• Meanwhile, from 2022 to 2026, Cinema spending is expected to increase by 18.9% yearly, boosting box office revenues significantly.
• In 2024, gaming will add about USD 196 billion to the global entertainment market’s total value.
• Social media advertising will grow by 12% in 2024, reaching USD 130 billion worldwide.
• The digital music market is expected to grow by 9.6% yearly, reaching USD 34 billion during this period.
• Media and Entertainment Industry Statistics further state that the virtual reality (VR) entertainment sector will grow by 15%, reaching more than USD 7 billion in revenue.
• By 2024, subscription streaming platforms are expected to make up 50% of global TV revenue.
• The global publishing industry, including books, newspapers, and magazines, is expected to generate more than 250 billion.

General Media and Entertainment Industry Statistics

• In 2024, 81% of global media consumption is expected to be digital, contributing to the growing market share of platforms like Netflix, YouTube, and Spotify.
• Video, social media, and gaming account for over 75% of all internet data traffic globally.
• The global video-on-demand market is expected to grow by 211%, reaching USD 257.59 billion by 2029.
• About 60% of the 8.01 billion people worldwide use social media, resulting in 4.76 billion users.
• Additionally, the amount of data generated by media digitization is expected to grow from 3.1 zettabytes in 2023 to 4.5 zettabytes by 2027.
• Media and Entertainment Industry Statistics: around 57% of households globally are projected to subscribe to at least one streaming platform, boosting recurring revenue.

(Source: thebusinessresearchcompany.com)

• The global market size of the entertainment and media industry has grown to USD 2507.25 billion in 2023 and is expected to reach around USD 2706.24 billion by the end of 2024.
• By the end of 2028, the market size will reach up to USD 3545.76 billion.
• Moreover, the annual growth rate of the market will grow at 7% CAGR from 2023 to 2028.

Top Five Key Trends Shaping the Media and Entertainment Industry in 2024

• Growth of Streaming Platforms: Crunchyroll and BritBox are growing in terms of catering to specific interests and demographics.​
• Surge in Live Event Revenues: The live events are rebounding, with global revenue will surpass around USD 68.7 billion in 2024​
• Expansion of Gaming as a Media Giant: Gaming is evolving as a mainstream entertainment medium, with the global gaming market expected to reach USD 312 billion by 2027, driven by innovations like augmented reality (AR) and virtual reality (VR)​
• Increased Use of AI in Content Creation: Generative AI has been increasingly adopted for content production, from video games to movies, creating new ways to engage audiences and streamline production.​
• Personalized and Interactive Media Consumption: Consumers are demanding more personalized experiences across streaming, social media, and gaming, fueled by AI and data-driven recommendations.​

Revenue Statistics of the Media and Entertainment Industry

(Reference: statista.com)

• In 2023, the media and entertainment market was worth 2.83 trillion dollars, growing 5% from 2022.
• By the end of 2024, the value of the entertainment and media market worldwide will reach around USD 2.96 trillion, followed by 2025 (USD USD 3.08 trillion), 2026 (USD 3.2 trillion), 2027 (USD 3.31 trillion), and 2028 (USD 3.42 trillion).

Revenue Growth Rate Statistics

(Source: pwc.com)

• Media and Entertainment Industry Statistics show that the market’s annual growth rate will be around 4.8% in 2024.
• The market’s annual growth rates for the coming years are stated as 2025 (4%), 2026 (4%), 2027 (3.3%), and 2028 (3.5%).

Growth of the Media and Entertainment Spending Statistics By Sector

(Reference: statista.com)

• A Statista report on Global forecasts predicts that the Data Consumption spending will increase by 26% per year from 2022 to 2026.
• The second and third-highest sector spending growth in the same duration resulted in 24.1% and 18.9%, respectively.
• Moreover, the compound annual growth rate of selected sectors of global media and entertainment spending of other sectors is followed by Video games and eSports (8.5%), Internet access (4%), Business-to-business (3.5%), Consumer books (1.2%), and Newspapers and consumer magazines (-2.1%).

The Top 5 Media and Entertainment Market Leaders Statistics

• Walt Disney Company will be a dominant player in the media and entertainment industry in 2024, with a revenue of USD 205 billion.
• Comcast Corporation, being the parent company of NBCUniversal and Sky, is forecasted to exceed USD 192 billion in revenue.
• Media and Entertainment Industry Statistics show that other leading company’s market size in 2024 is supposed to be Netflix (USD 150 billion), Warner Bros. Discovery (USD 53 billion), and Paramount Global (USD 12 billion).

Media and Entertainment Industry Statistics By Region

• The North American media and entertainment market will reach up to USD 830 billion by the end of 2024, accounting for approximately 35% of the global market.
• Streaming services continue to dominate, with a projected 12% growth in digital media consumption by 2024
• The U.S. remains the largest film market globally, contributing nearly 40% of worldwide box office revenue.

Furthermore, other region’s market size and growth rate of the media and entertainment Industry in 2024 are detailed in the table below:

Consumer Growth Rate of Media and Entertainment Industry Statistics By Country

(Reference: enterpriseappstoday.com)

• From 2021 to 2026, Turkey will secure the highest consumer growth rate, with a CAGR of 14.2%, while Argentina will account for around 10.4%.
• Furthermore, other countries’ consumer growth rates in the same duration will be India (9.1%), Nigeria (8.8%), Colombia (7.6%), Saudi Arabia (7.3%), Mexico (7.1%), Pakistan (7.1%), Indonesia (7.1%), and Chile (7%).

Media and Entertainment Usage Statistics By Age Group

(Reference: statista.com)

• As of September 2023, in the United States of America, BeReal was used by users aged 30 to 39, with a share of 40%, followed by users aged 18 to 29 (35%), 40 to 49 (19%), and 50 to 64 (5%).

Moreover, the distribution of leading social media platform users shares by age group:

Top 10 Entertainment Industry Statistics By Trends Shaping Lifestyle Destinations

• As of 2024, Virtual and augmented reality experiences in lifestyle destinations are estimated to grow by 22%.
• Eco-friendly events are becoming increasingly popular, with around 70% of venues now using sustainable practices to improve their environmental impact.
• Wellness tourism, combining entertainment and health activities, is expected to reach USD 1.5 trillion worldwide by 2025.
• Temporary pop-up entertainment venues will increase, generating more than USD 6 billion in revenue.
• Digital concerts may see 25% more participation, combining both in-person and online audiences.
• AI-driven personalized content will cater to specific tastes, influencing 45% of people’s choices for entertainment venues.
• Media and Entertainment Industry Statistics state that by 2024, major resorts will feature esports events, and the global esports market will have grown beyond USD 3.5 billion.
• Local culture and global entertainment collaborations are expected to grow, improving destinations by 30% in the forecast period.
• Influencer partnerships are expected to shape entertainment destinations, contributing USD 10 billion to the industry in the future.
• Vacation spaces for creators to make content are expected to grow by 18% in the coming years.

U.S. Subscribe Share Statistics By Streaming Services in 2024

(Source: morningconsult.com)

Top Websites Statistics in the Media and Entertainment Industry

Valuation of the Media and Entertainment Industry Statistics in India

(Reference: statista.com)

• Media and Entertainment Industry Statistics show that India’s media and entertainment industry will be worth almost 2,553 billion rupees in 2024, up from 2,317 billion rupees in 2023.
• In the coming year, the estimated valuation of the media and entertainment industry will be around 2025 (2,832 billion rupees) and 2026 (3,081 billion rupees).

In China

(Reference: statista.com)

• In 2023, the value of China’s entertainment and media market was about USD 241 billion and is supposed to grow around USD 255 billion, followed by 2025 (USD 271 billion) and 2026 (USD 287 billion).
• Furthermore, the figure was expected to grow at a 6.1% yearly rate until 2027, resulting in USD 305 billion.

In the United Kingdom

(Reference: statista.com)

• The media and entertainment market in the United Kingdom will grow by 4% annually from 2024 to 2028, reaching 121 billion British pounds.
• Meanwhile, the market size was 85 billion British pounds in 2023 and is expected to reach 100 billion British pounds by 2025.

Product Statistics of the Media and Entertainment Industry

Streaming Services

• The streaming industry is expected to reach USD 167 billion globally in 2024.
• Major platforms like Netflix, Amazon Prime Video, and Disney+ dominate the sector.
• Netflix alone will generate an estimated USD 31.6 billion in 2024 revenue.

Social Media

• In 2024, social media will generate USD 102 billion in advertising revenue, with Facebook, Instagram, and TikTok leading the market.
• Meta (Facebook and Instagram) brings in around $117 billion from ad sales.

Video Gaming

• Media and Entertainment Industry Statistics show that the gaming industry’s revenue is expected to hit USD 227 billion in 2024.
• Leading gaming platforms include Sony PlayStation, Microsoft Xbox, and Nintendo.
• Sony is forecasted to earn USD 30 billion from gaming and network services.

Media and Entertainment Industry Statistics By Paying to Connect

(Reference: pwc.com)

• In the financial year 2024, the global revenue in the media and entertainment industry based on connectivity, advertising, and consumers is expected to be USD 1,176 billion, USD 917 billion, and USD 866 billion, respectively.

OTT Streaming Revenue Statistics By Segments

(Reference: pwc.com)

• According to Media and Entertainment Industry Statistics, annual OTT video revenues will exceed USD 200 billion by the end of 2028.

The table below shows the segmental revenue analyzed from 2024 to 2028:

Sustainable Initiatives of the Media And Entertainment Industry

• The media and entertainment industry is supposed to reduce its carbon emissions by 5% in 2024, driven by shifts toward renewable energy use in content production and streaming services.
• Major players like Netflix and Disney are targeting carbon neutrality by 2030.
• 75% of film and TV productions in the US are expected to adopt sustainable practices by 2024.
• Green film productions have contributed to a 10% increase in the use of eco-friendly equipment across Hollywood studios.
• The global video gaming sector is projected to invest over $2 billion in green technology and low-energy game development processes by 2024.
• Sony and Microsoft lead sustainability initiatives, pledging to use 100% renewable energy to produce all gaming consoles by 2025.
• Streaming platforms like Amazon Prime Video and Apple TV+ aim to power their data centers with 100% renewable energy.
• The shift from physical media (CDs, DVDs, magazines) to digital formats will save 1.2 million tons of paper and plastic in 2024 alone.

Conclusion

The media and entertainment industry is supposed to grow enormously in 2024, thanks to new technology and changes in how people watch content. In recent years, on-demand shows, personalized experiences, and the use of new tech like VR, AR, and 5G are demands of billions. Subscription services in this industry are changing how businesses operate.

Media, technology, and entertainment are blending, making the lines between them less clear. This industry is important for the global economy and culture. Media and entertainment industry statistics will guide the understanding of these trends and analyses that will help companies and stakeholders succeed in this fast-changing world.

Tajammul Pangarkar

Tajammul Pangarkar is the co-founder of a PR firm and the Chief Technology Officer at Prudour Research Firm. With a Bachelor of Engineering in Information Technology from Shivaji University, Tajammul brings over ten years of expertise in digital marketing to his roles. He excels at gathering and analyzing data, producing detailed statistics on various trending topics that help shape industry perspectives. Tajammul's deep-seated experience in mobile technology and industry research often shines through in his insightful analyses. He is keen on decoding tech trends, examining mobile applications, and enhancing general tech awareness. His writings frequently appear in numerous industry-specific magazines and forums, where he shares his knowledge and insights. When he's not immersed in technology, Tajammul enjoys playing table tennis. This hobby provides him with a refreshing break and allows him to engage in something he loves outside of his professional life. Whether he's analyzing data or serving a fast ball, Tajammul demonstrates dedication and passion in every endeavor.

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