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.
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.
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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.
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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