The media & entertainment market landscape is highly competitive and consists of prominent players leading across the industry. Lucia Moses. Dr. Pradeep K. Mukherji & Saugata Sengupta. Actor. Media & Entertainment (M&E) industry is in a transformation phase as both old and new continues to coexist. Ultimately, these tools could shape a fundamentally new world of media and entertainment.2, Generative AI is being fueled by investors shifting capital into the tools and companies bringing it to life (figure). Nancy Scola, The Washington crowd gets an alarming crash course in AI, The Information, March 10, 2023. Thank you for Your Interest, Please Download the full article by entering your details. Rebel Girls raised $8 million in Series A to expand its empowerment-focused . Simply select text and choose how to share it: Email a customized link that shows your highlighted text. The United States media and entertainment (M&E) industry is a $703 billion market [1], comprised of businesses that produce and distribute motion pictures, television programs and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games and supplementary services and products. The M&E industry is one to watch closely in the next five years, with Deloitte and PriceWaterhouseCoopers expecting significant growth. Case study: How collaborating on tax operations powers a focus on strategy and growth, Technology, media, entertainment and telecommunications strategy consulting, As-a-Service Business Operations and Transformation. About the Outlook: PwCs Global Entertainment & Media Outlook, now in its 24th year, provides in-depth analysis of global entertainment & media consumer and advertising spending. We audit some of the largest media companies in the world. DTTL and each DTTL member firm and related entity is liable only for its own acts and omissions, and not those of each other. This could change the value of an actor, as the technology extends beyond their physical self to include their digital twin. With the emergence of digital behavior, subscription models play a primary role in monetizing the digital platform with evolving technologies, thereby creating opportunities for companies in the media and entertainment industry to achieve greater operational efficiencies. Job Titles Media & entertainment industry insights and services | EY - US Trending The Office: Bellwether for distress or opportunity for revitalization? This years outlook doesnt have its own chapter on video games. Your payment is successful. Fullwidth SCC. Updated annually, the intuitive online tool allows you to easily browse, compare and contrast spending and growth rates. Joinhost Tanya Ott as she interviews influential voices discussing the businesstrends and challenges that matter most to your business today. Click here. tech, media, and telecom, Unlike previous waves of artificial intelligence (AI) innovation, generative AI tools seem uniquely capable of being creative.1In a short time, generative AI has empowered legions of creators, disrupted industry workflows, and sharply amplified challenges to intellectual property, trust, and ownership. Generative AI tools in media and entertainment | Deloitte Insights Chart: Are You Not Entertained? | Statista Media and Entertainment Industry Solutions | Microsoft Industry LONDON, 27 June 2023 For the global entertainment & media (E&M) industry, 2022 marked an important inflection point. He has 20 years of experience focusing on how people and organizations interact with transformational technologies. You may withdraw your consent to cookies at any time once you have entered the website through a link in the privacy policy, which you can find at the bottom of each page on the website. All this is the topic of our new guide, Accelerated Media Evolution In The Time Of COVID , and the focus of our Media OnAir events, where we'll share insights from our work . Media & Entertainment Market Landscape is expected to register a CAGR of over 13% during the forecast period. Global e-sports ticket sales revenue returned to pre-pandemic levels in 2022 after doubling in 2021 and growing by 147.8% in 2022. Nate resides in Seattle, Washington. This makes the vertical unique, since these sub-verticals compete, compliment and combine to fulfil the ever-increasing demand for entertainment and information globally. US Telecom, Media & Entertainment Sector Leader, Go straight to smart. Please refer to your advisors for specific advice. The emergence of social media is disrupting the industry, and players in the traditional sector are switching towards digital platforms, thereby increasing their ad spending on digital media. Copyright 2023 - Avasant and affiliated companies, Global Equations Country Data and Index, Digital and Application Services Benchmark, Avasant Empowering Beyond Summit 2023 Middle East, Avasant Foundation Golf Event: Impact the Future 2023. Do Not Sell or Share My Personal Information. At the same time, media companies and creators might do well to remember that they cant cater to everyone, all the time. M&E is also unique due to its psychological, emotional and aspirational appeal to its customers. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. Amid declining economic conditions and expected high subscription cancellations, most US streamers now offer cheaper, ad-supported tiers. Interactivity, digitization, multiple-platforms, multiple-devices and globalization of services based landscape has remodeled the media and entertainment vertical over the last decade. See Terms of Use for more information. Could some celebrities become immortal? Integration of new OTT services across the already existing subscription-based streaming devices among the US household is expected to drive the media & entertainment sector across the region. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Will generations that follow them show similaror even greaterdigital and connected behaviors? Fans, and fan communities, may be an under-recognized asset in the media and entertainment industry. How can brands continue to strategically partner with a diverse and inclusive cohort of creatorsacross platforms, services, and experiencesgiven the emergence of this new, decentralized model? The media and entertainment industry has often been reactive to social issues and has rarely pooled common resources and capabilities. At $660 billion, the U.S. media and entertainment (M&E) industry 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. If companies in the EM industry are to successfully engage consumers and drive growth, they need to transform their service-offerings and tap into new and emerging markets and technologies, such as Asia and generative AI., Macroeconomic pressures hit consumers, EM bottom-lines and M&A/VC deal-activity. Media & Entertainment Market Size & Share Analysis - Industry Research Why TMT companies face a higher risk of losing their best and brightest, What to know if you want to pay employees with cryptocurrencies. We have, however, witnessed content that have bridged not only the language barrier, but also worked across segments internationally. Also, smartphone penetration, low data tariff, and investments in original and regional digital content are favorable factors for digital access and content supply, respectively, for driving online consumption across the media & entertainment industry. What does it mean for the future of social media companies if they become less focused on social and more on entertainment? . [12] Global book publishing revenue 2016 | Statistic Statista, https://www.statista.com/statistics/307299/global-book-publishing-revenue/ (last visited Jan 22, 2018). Please see www.deloitte.com/about to learn more about our global network of member firms. Regarding market share, some of the major players currently dominate the market. Nate works with corporate clients looking to acquire, sell, divest or raise growth capital from qualified buyers and institutional investors. Social Media, Mobility, Analytics and Cloud Computing (SMAC), the new generation in technology & globalization is now the next wave catalyst of change for the industry. Check the background of this investment professional on FINRA's BrokerCheck. Certain services may not be available to attest clients under the rules and regulations of public accounting. We are always looking to hire talented individuals with equal and extraordinary proportions of industry Emmet McDermott, AI decision-making in Hollywood is already here, now what?, Hollywood Reporter, May 4, 2023. In this thought leadership session, explore technologies designed to help you make better data-driven decisions about your content libraryand learn how a new generation of sophisticated tools will enable you to manage catalog content in all stages of production and distribution. Media and entertainment companies and brands should consider paying attention to this budding Gen Z cohort as they mature into adulthood and gain purchasing power. Pitch Deck Examples That Helped Entertainment Startups Raise Millions Leading UGC services seem unsure how best to support their content creators and brand ambassadors while keeping their own costs down. Total industry revenue rose 5.4% in 2022 to US$2.32 trillion a sharp deceleration from the 10.6% growth rate in 2021 when economies and industries were recovering from the onset of the COVID-19 pandemic. In 2023, the story of gaming is that it is impacting every part of the media and entertainment industry. However, most creators make less than US$50,000 per year and many are actively looking to diversify their sources of revenue. This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. They not only compete with each other for attention, time, and revenues, but with social media, user-generated content, and video games. See how we connect, collaborate, and drive impact across various locations. Sprinklr's Media & Entertainment Industry Benchmarking Report for Digital Unified-CXM is a data-driven assessment of how well global media and entertainment companies are managing digital customer experiences. Streaming video, social media, and gaming are helping to enable new business models and reshaping media and entertainment. The media & entertainment industry, embedded in the business of imagination, is riding a wave of tremendous opportunity amid the turbulence that attends times of significant change like the one we're in. Media & Entertainment analysis includes a market forecast outlook to 2028 and historical overview. Operational costs are high, and competition for subscribers is fierce. The North American media and entertainment industry is the largest growing industry that includes motion pictures, television programs & commercials, streaming content, music & audio recordings, broadcast, radio, and book publishing, and the evolving social media presence over the region. A federal judge issued a broad preliminary injunction limiting the federal government from communicating with social-media companies about online content, ruling that Biden administration . We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. For the global entertainment & media (E&M) industry, 2022 marked an important inflection point. The partnership will commence with the release of the feature films and reach premium film buyers in the US marketplace. Edit anywhere, publish everywhere, be the first to market, scale effortlessly, ensure content quality, and drive efficiency across your organization with Blackbird. Entertainment industry is a group of sub-industries devoted to entertainment. Financial Services and Investment Intelligence, Digital Transaction Management (DTM) Market. Mark Savage, AI-generated Drake and The Weeknd song goes viral, BBC News, April 17, 2023. 16 Trends In The Media And Entertainment Industry - openGeeksLab What can brands or companies do to learn more about their fans? But the real story for 2023 is that these three sectors are increasingly becoming more interdependent as part of a broader and richer media and entertainment ecosystem. Exceptional organizations are led by a purpose. }); Login to get free content each month and build your personal library at Avasant.com, Media & Entertainment Industry: An Overview. Further, According to the American media measurement and analytics company comScore, Netflix captured 74% of the total penetration of US OTT households, followed by Youtube with 54% and Amazon with 33% penetration. This brings challenges and opportunities around the distribution and consumption of both print and digital content for companies across this industry. Currently, Gen Zs make up approximately 20% of the US populationand they are more racially and ethnically diverse, and on track to be more educated, than any generation before them. The market sizes and forecasts are provided in terms of value (USD million) for all the above segments. The combination of real-world elements in the game is truly . Enabled by data and technology, our services and solutions provide trust through assurance and help clients transform, grow and operate. Cinema box office revenue will reach pre-pandemic levels by 2025, hitting US$43 billion (up from US$39.4 billion in 2019). How generative AI got cast in its first Hollywood movie. The EU report found that U.S. works represented 47 percent of overall content available and drew 59 percent of viewing time . Total industry revenue rose 5.4% in 2022 to US$2.32 trillion - a sharp deceleration from the 10.6% growth rate in 2021 when economies and industries were recovering from the onset of the COVID-19 pandemic. 2023 Media and Entertainment Industry Outlook, US Telecom, Media & Entertainment Sector Leader, 2023 media and entertainment industry outlook, Five trends shaping a new ecosystem of engagement, Infrastructure, Transport & Regional Government, Telecommunications, Media & Entertainment, Adapting to continuous change in the industry, update your settings to accept analytics and performance cookies. 2023. Download the full report to learn more about the impacts of media and entertainment industry trends, key actions to take, and critical questions to ask. Sorry! By its inherent nature, the industry is extremely dependent on markets, cultures, languages and consumer segments. Please see www.pwc.com/structure for further details. April 2022 - HCL Technologies launched a media marketplace platform that will streamline the pre-production, production, and post-production processes of content creation and distribution by serving as the human-to-machine interface in developing software-defined workflows and providing a secure movement of digital assets from studio/set through telcos and carriers to private data centers, co-location providers, SaaS cloud-based tools and hyperscalers. Media and Entertainment Trends: Brief Market Outlook. Its already possible to instruct a digital twin to move and act as needed, nearing photo- and audio-realistic simulation. Jana is vice chair and Deloittes US Telecom, Media and Entertainment (TM&E) sector leader. The industry is constantly innovating and bringing new applications to market. Leading US providers have established global footprints, and media companies in more countries have launched their own domestic SVOD offerings. The internet has since been awash in robot philosophy,3LLM rap battles,4images of clergy in high-fashion puffer jackets,5and new songs sung by popular artists without their participation or consent.6. Successful companies will likely develop strong visions that span these sectors and pull their entire industries forward. change your analytics/performance cookie settings. It uses Microsoft Azure Synapse Analytics and Dynamics 365 Customer Insights to deliver rich insights analytics for event measurement and feedback in a more secure environment. *Disclaimer: Major Players sorted in no particular order. The business of media in 2021 | World Economic Forum Live music and cultural event revenue is expected to surpass the 2019 pre-pandemic peak in 2024. But in 2023 social media may look more like an open stage for performers than a social network. As media companies transition from short-term response to long-term planning, many are contemplating how different the industry might look in the months and years to come. Media and Entertainment Industry in India, Indian Media Industry - IBEF & Jesse Kirshbaum View all articles by this author, Its 2018 and the Music Business is Better than Ever Ad Age (2018), http://adage.com/article/agencies/2018-music-business/311771/ (last visited Jan 22, 2018). A union representing about 160,000 actors has put plans to go on strike against major studios and streaming services on hold. The Media and Entertainment Market is growing at a CAGR of 13% over the next 5 years. In turn, using digital technology comes quite naturally to Gen Zs, and they often gravitate toward more social and immersive media. Werner Ballhaus, Global Entertainment & Media Industry Leader, PwC Germany, said: We have seen impressive growth in the entertainment and media industry over the past two years following a surge in demand for digital products during COVID-19. This box/component contains JavaScript that is needed on this page. Media & Entertainment. Studios and video streamers face the reality of their own market disruption, trying to find profits in a less profitable business. INDUSTRY OVERVIEW IMPORTANT CHARACTERISTICS OF ENTERTAINMENT MARKETS THE CHALLENGE OF PIRACY BIBLIOGRAPHY Entertainment as an industry in the United States alone is responsible each year for $150 billion in expenditures and some 120 billion hours of consumed time (Vogel 1998, p. xvii). 22 Entertainment Industry Jobs (With Salaries and Duties) Asia Pacific is growing at the highest CAGR over 2018-2028. Sean Hollister, Watch this Nvidia demo and imagine actually speaking to AI game characters, The Verge, May 29, 2023. All rights reserved. EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. 4 ways media and entertainment could be more equitable and diverse Please enable JavaScript to view the site. Discovery Inc. is a global media and entertainment . We help companies thrive in the transformative age by refreshing themselves constantly, experimenting with new ideas and scaling successes. North America holds highest share in 2022. In addition, by using the embed code, you reduce the load on your web server, because the image will be hosted on the same worldwide content delivery network Mordor Intelligence uses instead of your web server. This live end-to-end streaming solution showcases a personalized, high-quality, reliable video and media experience. DTTL (also referred to as "Deloitte Global") does not provide services to clients. These creators are shifting to rely less on traditional social platforms and, instead, are taking their content, communities, brand partnershipsand their incomesdirectly to consumers on different platforms and services. Many of the prominent motion picture studios are part of larger media conglomerates that often include television, video and streaming services, music services, newspaper, cable and magazine segments. All entertainment strategies should consider video games, from simple mobile games to massively multiplayer services and rich hyper-realistic narrative game worlds. For information, contact Deloitte Global. Tune in to the audiobook version of our 2023 media and entertainment industry outlook. Learn more. Like what youve seen? Mark T. Goracke, The summer of "deep Drakes": How generative AI is creating new music and copyright issues, Holland & Knight, May 2, 2023. AI decision-making in Hollywood is already here, now what? Discover professional video editing in a browser with Blackbird. [1]Kevin Westcott, 2017 Media and Entertainment industry trends | Deloitte US Deloitte United States (2017), https://www2.deloitte.com/us/en/pages/technology-media-and-telecommunications/articles/media-and-entertainment-industry-outlook-trends.html (last visited Jan 22, 2018). Chris Arkenberg is a research manager with Deloittes Center for Technology, Media and Telecommunications. The Media & Entertainment Market is segmented by Type (Print Media, Digital Media, Streaming Media) and Geography (North America, Europe, Asia Pacific, Latin America, and Middle East and Africa). AR and VR content has conquered all lights in the media and entertainment businesses as consumers today are catapulted into an environment with blurred borders between digital and augmented worlds. In music, such implications are already playing out. Audiobook revenue has recently surpassed e-book revenue, with 2016 figures respectively at $2.1[14] and $1.1[15] billion. Please enable JavaScript to view the site. However, with the advancement in emerging network technology (5G) across OTT services, new players are increasing their market presence, thereby expanding their business footprint across emerging economies. How were helping TMT companies adopt as-a-service business models. Stayinformed on the issues impacting your business with Deloitte's live webcast series. Social login not available on Microsoft Edge browser at this time. Discover how the Azure Speech SDK can help you add accessible and localized content. In an ecosystem filled to the brim with choices, these networks of devoted enthusiasts swarm around content, teams, creators, video games, celebrities, musicians, moments, and moreand are often responsible for making something a hit or a miss. The M&E industry is large and varied, constantly under pressure to innovate and explore emerging technologies for the potential impact on development. Media And Entertainment Industry Spotlight: 3 Strategies For - Forbes Electronic sports, also known as eSports or e-sports, generally professional gaming, in which players compete before a live audience. Can brands, studios, and content creators harness the collective enthusiasm of fans throughout the development, production, and promotion of media and entertainment properties. 2023 media and entertainment industry outlook Five trends shaping a new ecosystem of engagement Streaming video, social media, and gaming are helping to enable new business models and reshaping media and entertainment. Amid a broad-based resetting of expectations and flagging consumer strength, companies are seeking growth in sectoral hotspots (especially advertising and gaming), emerging technologies such as generative AI, and regions with outsized growth prospects like Asia. Securities transactions are conducted through Four Points Capital Partners, LLC (4 Points), a member ofFINRAandSIPC. Online data consumption spiked 30% during pandemic. Please enable JavaScript to view the site. Deliver extraordinary direct-to-consumer fan experiences at scale with MediaKind Engage. Four Points Capital Partners, LLC a member of FINRA and SIPC. At the same time, more socializing may be shifting into messaging services that lean into utility more than entertainment. 18 pitch decks that helped media and tech startups nab millions in funding to disrupt entertainment. Communication and socialization will likely continue to shape the internet, just as it has shaped us before for eons. Interactivity, digitization, multiple-platforms, multiple-devices and globalization of services based landscape has remodeled the media and entertainment vertical over the last decade. The Outlook includes five-year historical and five-year forecast data and commentary for 13 industry segments across 53 territories. The Media and Entertainment (M&E) industry has multiple segments that combine into one vertical; Movies/Cinema, Television, Music, Publishing, Radio, Internet, Advertising and Gaming. remember settings), andPerformance cookies to measure the website's performance and improve your experience., and Marketing/Targeting cookies, which are set by third parties with whom we execute marketing campaigns and allow us to provide you with content relevant to you. Todays consumers have access to multiple devices for gaming, including PCs, mobile phones, digital or physical consoles, and tablets. Global entertainment and media industry, spurred by advertising and digital, to hit $2.8 trillion market in 2027 even as growth rate decelerates: PwC Global Entertainment & Media Outlook, Total Impact Measurement & Management (TIMM), ESG (Environmental, Social and Governance), Global Entertainment & Media Outlook 2023-2027, Entertainment and media (E&M) revenues will grow every year through 2027 creating a US$2.8 trillion industry but the rate of growth will decline every year, Advertising revenue to approach $1 trillion in 2027 and become the largest E&M sector, even as consumer spending loses steam and competitive landscape shifts, Digital will account for nearly three quarters of E&M revenue by 2027, up from 55.2% in 2018, Gaming sector remains a key driver of industry growth particularly in Asia-Pacific with global gaming revenues to hit $312B by 2027, Live events to return to pre-pandemic highs in 2024 and outperform E&M industry at-large, Global internet access to approach $1 trillion market as annual data consumption triples between 2022 and 2027. Traditionally, content creators were the deciders on what to supply the critical change in the new era is that demand is completely consumer driven. Review ourcookie policyfor more information. For personalized content and settings, go to you My Deloitte Dashboard. September 2022 - Alliance Entertainment announced its partnership with MUBI. Streaming video may have disrupted an entire industry, but social media has disrupted the whole world. Find out more and tell us what matters to you by visiting us at www.pwc.com. The industry is dominated by the broadcast sector, where television programs and commercials are the primary sources of revenue. India: value of the media and entertainment industry 2025 - Statista Donna Lu, Misinformation, mistakes and the Pope in a puffer: What rapidly evolving AI canand cantdo, Guardian, March 31, 2023. We provide . With consumers becoming more digital, their media and entertainment consumption and purchase habits have also evolved from multi-tasking while watching TV to accessing information via multiple devices. More than 70 percent of American adults own a smart phone, roughly 45 percent own a tablet, and one in five own an eReader. The report highlights six implications for the media and entertainment industry, each with a value map to illustrate major impacts for industry players. Nate Nead is a licensed investment banker and Principal at Deal Capital Partners, LLC, a middle-marketing M&A and capital advisory firm. . B.C. When the M&E industry keeps evolving, how can companies pursue profitable growth? Now, perhaps due to the impossible weight of content moderation, the looming regulatory guardrails coming to contain its business model, or simply the need to reinforce its value for advertisers, social media seems to be growing less social. Several live-streaming virtual multichannel video programming distributors (MVPDs) have recently launched offerings with live networks and on-demand content. The U.S. filmed entertainment sector enjoyed a trade surplus of $16.3 billion[6] in 2014 (latest available data), which was 5 percent of the total U.S. private sector services trade surplus that year. B.C. TV landscape continues to evolve amid big industry changes