6th
August 2019 – The global movies and entertainment market was
valued at 80.98 billion in 2016 and is anticipated to continue with the winning
streak in the forecast period. Rising popularity of 3D movies enable virtual
reality for audience. Video streaming services, digitization and showcasing
filtered content are likely to contribute to the market growth in the forecast
period. Upgradation in technological infrastructure for digitization of cable
services is likely to open new ventures for movies and entertainment market.
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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