|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 94.45 Billion||USD 169.62 Billion||7.21%||2022|
Movies And Entertainment Market
The global movies and entertainment market size was worth around USD 94.45 Billion in 2022 and is predicted to grow to around USD 169.62 Billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.21% between 2023 and 2030. The report analyzes the global movies and entertainment market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the movies and entertainment market.
The movies and entertainment industry deals with the production, distribution, and exhibition of music, movies, TV shows, and other forms of entertainment. It includes service providers such as film studios, production companies, broadcasters, streaming services, cinema chains, distribution companies, and other entities that create and distribute content. In recent years, the market has managed to become one of the top revenue-generating segments when considering the total sales profit generated by movies and entertainment shows produced worldwide. It is also one of the most well-funded and technologically advanced sectors. In the last decade, with the emergence and exponential popularity of over-the-top (OTT) platforms such as Netflix, Amazon Prime, and Disney +, the industry has managed to revolutionize itself thus attracting better prospects.
Growing global demand to propel market growth
The global movies and entertainment market is projected to witness high growth owing to the increasing global demand for various forms of movies and other entertainment-related shows. With the advancements in technology, movies, and other programs have become more accessible. Earlier, people could only enjoy lengthy movies in large theaters. However, with the advent and increased adoption of smart devices such as laptops, mobile phones, and tablets, people can now watch their favorite programs from anywhere and at any time. This has also opened doors for gaining access to global movies and shows which was not possible earlier when movies were only shown in physical theaters. Furthermore, the growing population and increasing number of people showing exhaustive interest in the movie-making business is a source of higher revenue. The population of the consumer segment is growing every day.
High competition within the market to restrict the market growth
The global movies and entertainment industry is one of the most competitive industries across all sectors. This is because it is home to a large number of people and includes millions of stakeholders, unlike other industries where the number of people involved in bringing products to the market is relatively limited. Furthermore, art and its form are highly subjective and hence it is difficult for production houses to make entertainment programs that can attract the entire potential consumer group at once. In addition to this, several economic and social factors within the nation can severely impact the performance of a movie or any other entertainment show.
Growing demand for original content to provide growth opportunities
The global movie and entertainment industry players can benefit from launching and creating original content. The market has become highly saturated in recent times. With movies and programs becoming easily accessible, consumers are bored of watching the same kind of programs and shows. However, if recent trends are to be taken seriously, viewers have shown love for content that is more authentic. For instance, Squid Games, a popular show on Netflix, is estimated to have amassed over USD 900 million in its first year on the OTT platform.
Changing consumer preference to pose a major challenge
The global movies and entertainment market faces one of the most difficult challenges to tackle for any product or service provider. Consumer preference in this sector is constantly changing, especially in modern times when people have become more sure of their preferences and what they would like to watch. People are taking control back from the entertainment industry by outright rejecting content that does not meet their expectations. With a vastly dynamic audience to cater to, movie production houses are struggling with cracking the right formula for success.
The global movies and entertainment market is segmented based on mode of watching, product, and region.
Based on mode of watching, the global market segments are theaters and over-the-top platforms. In 2022, the highest growth was observed in the over-the-top platforms segment. The trend was set in motion during Covid-19 which led to theaters across the globe being shut for many months. This year saw a massive surge in the popularity and subscriber list of several OTT platforms. Witnessing the sudden demand, various domestic-level players entered the industry whereas already established business groups invested in further expansion. For instance, Netflix, one of the most popular OTT platforms, boasted of more than 209 million paid subscribers as of 2021, and the number has been rising since then. However, theaters continue to remain significant shareholders in the industry.
Based on product, the global movies and entertainment market segments are music, movies, TV shows, and others. The industry witnessed the highest growth in the movies segment in 2022 followed by music and TV shows. Movies continue to remain one of the most preferred modes of entertainment for a large part of the population. Time and excellent strategic investment toward integrating advanced technology and movie-watching experience have resulted in more people spending extra to enjoy well-made movies. As per Box Office Mojo, Avengers: Endgame crossed more than USD 2.798 billion during its theatrical release in 2019.
|Report Attributes||Report Details|
|Report Name||Movies and Entertainment Market Research Report|
|Market Size in 2022||USD 94.45 Billion|
|Market Forecast in 2030||USD 169.62 Billion|
|Growth Rate||CAGR of 7.21%|
|Number of Pages||199|
|Key Companies Covered||Universal Pictures, Disney, Netflix, Warner Bros., 20th Century Studios, Sony Pictures Entertainment, Focus Features, A24, Paramount Pictures, HBO, Amazon Prime Video, Legendary Pictures, Hulu, DreamWorks Animation, Lionsgate, Apple TV+, MGM Studios, Constantin Film AG, Illumination Entertainment, Blumhouse Productions, Participant Media, Pixar Animation Studios, Open Road Films, STX Entertainment, and Village Roadshow Pictures.|
|Segments Covered||By Mode of Watching, By Product And By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
North America to dominate with the highest CAGR
The global movies and entertainment market is expected to witness the highest growth in North America with the US and Canada leading with the highest growth rate. In 2022, the region accounted for more than 35% of the global market share. The US is home to some of the largest production houses in the world and it has provided viewers with movies and entertainment programs that have managed to change history with time. The movie-making industry in the US is one of the most influential sectors globally. The high amount of investment from the production houses to be used for creative writing and technological growth in the industry is a leading reason for the dominance of the US region. Furthermore, the mature consumer database of several OTT platforms in North America contributes to the regional expansion.
The global movies and entertainment market is led by players like:
By Mode of Watching
The industry deals with the production, distribution, and exhibition of music, movies, TV shows, and other forms of entertainment.
The global movies and entertainment market is projected to witness high growth owing to the increasing global demand for various forms of movies and other entertainment-related shows.
According to study, the global movies and entertainment market size was worth around 94.45 billion in 2022 and is predicted to grow to around USD 169.62 billion by 2030.
The CAGR value of the movies and entertainment market is expected to be around 7.21% during 2023-2030.
The global movies and entertainment market is expected to witness the highest growth in North America with the US and Canada leading with the highest growth rate.
The global movies and entertainment market is led by players like Universal Pictures, Disney, Netflix, Warner Bros., 20th Century Studios, Sony Pictures Entertainment, Focus Features, A24, Paramount Pictures, HBO, Amazon Prime Video, Legendary Pictures, Hulu, DreamWorks Animation, Lionsgate, Apple TV+, MGM Studios, Constantin Film AG, Illumination Entertainment, Blumhouse Productions, Participant Media, Pixar Animation Studios, Open Road Films, STX Entertainment, and Village Roadshow Pictures.