Entertainment and Media Market

The increasing use of smartphones is expected to drive market growth.

Mobile technology is growing at a rapid pace across the globe. By the end of 2021, 5.3 billion individuals had signed up for mobile services, accounting for 67% of the global population. The constant introduction of innovation in the development of smartphones has encouraged the affordability and adoption of smartphones across the globe. Smartphones are increasingly equipped to handle various applications for video streaming, mobile gaming, and video conferencing. Technologies such as AI, augmented reality, and virtual reality are increasingly being integrated with media and entertainment applications being run on smartphones, which has attracted users.

Smartphones have opened opportunities for different business models in the entertainment and media industry for generating revenue streams. Popular video streaming platforms such as Netflix and Amazon Prime Video, among others, have capitalized on the increasing adoption of smartphones by making content available for mobile devices.

Moreover, the increasing use of smartphones has prompted service providers to enhance their content delivery networks, improve the overall user experience, and benefit media and entertainment companies on a large scale. The ease of access to online content through smartphones due to improved connectivity services has increased the average consumer spending on entertainment services, which is expected to drive the growth of the global entertainment & media market during the forecast period.

The ongoing digital transformation is a pivotal driver of the Global Entertainment and Media Market Industry. As consumers increasingly shift towards digital platforms for content consumption, traditional media outlets face significant challenges. In 2024, the market is projected to reach 3070.9 USD Billion, reflecting a robust demand for streaming services, digital advertising, and online gaming. This transformation is not merely a trend but a fundamental shift in how content is created, distributed, and consumed. Companies that adapt to this digital landscape are likely to thrive, while those that resist may struggle to maintain relevance.

The globalization of content is a significant driver within the Global Entertainment and Media Market Industry. As barriers to entry diminish, content creators are increasingly targeting international audiences, leading to a more diverse media landscape. This trend is exemplified by the rise of streaming platforms that offer localized content across various regions. The market's expansion is evident, with a projected value of 3070.9 USD Billion in 2024, as companies invest in producing content that resonates with global audiences. This globalization not only enhances cultural exchange but also presents opportunities for cross-border collaborations and partnerships.

The Global Entertainment and Media Market Industry is poised for remarkable growth, with projections indicating a market size of 8004.6 USD Billion by 2035. This growth trajectory is underpinned by various factors, including digital transformation, increased mobile penetration, and evolving consumer preferences. The compound annual growth rate of 9.1% from 2025 to 2035 suggests a robust expansion phase, driven by technological innovations and globalization of content. As companies adapt to these trends, the market is likely to witness new entrants and increased competition, further enriching the entertainment landscape.

Technological advancements are fundamentally transforming the Global Entertainment and Media Market Industry. Innovations such as artificial intelligence, virtual reality, and augmented reality are enhancing content creation and distribution processes. These technologies enable more engaging and immersive experiences for consumers, which is increasingly becoming a competitive differentiator. The market is expected to grow significantly, reaching 8004.6 USD Billion by 2035, as companies leverage these advancements to attract and retain audiences. The integration of cutting-edge technology into entertainment offerings is likely to drive new revenue streams and reshape industry dynamics.

The proliferation of mobile devices plays a crucial role in shaping the Global Entertainment and Media Market Industry. With mobile penetration rates soaring globally, consumers are increasingly accessing entertainment content on their smartphones and tablets. This trend is expected to contribute significantly to the market's growth, with projections indicating a rise to 8004.6 USD Billion by 2035. Mobile platforms facilitate on-the-go access to streaming services, social media, and gaming, thereby enhancing user engagement. The convenience and accessibility offered by mobile devices are likely to drive further investment in mobile-centric content and advertising strategies.

Shifting consumer preferences are reshaping the Global Entertainment and Media Market Industry. Audiences are increasingly favoring personalized and interactive content experiences, leading to a surge in demand for on-demand streaming services and immersive technologies. This evolution is reflected in the projected compound annual growth rate of 9.1% from 2025 to 2035, indicating a strong market trajectory. Companies that prioritize user-centric content and leverage data analytics to understand viewer habits are likely to capture a larger share of the market. The focus on quality, diversity, and engagement will be paramount in meeting the expectations of modern consumers.

By Region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Entertainment and Media market accounted for ~40% market share in 2022 and is expected to exhibit a significant CAGR growth during the study period. The entertainment & media market in North America is expanding with the increasing investments by key market players such as Comcast Corporation, The Walt Disney Company, Google LLC, Facebook Inc., Warner Media LLC, Viacom Inc., and Time Inc.

The region is a global hub for media and entertainment offerings, including social media, sports, arts, theater, video games, film and television, music, and publishing. Furthermore, the American Film Industry earns billions of dollars in income each year, adding to the expansion of the regional market. The media and entertainment industry also earns money from strong news broadcasting services provided by numerous businesses in the United States, Canada, and Mexico. For entertainment, consumers are increasingly turning to smartphones, smart gadgets such as digital assistants, smart speakers, and the Internet.

In the coming years, North America is predicted to see increased demand for video games, internet video streaming services, and books and magazines. As a result, North America, particularly the U.S., and Canada, is expected to drive the marketing platform market growth.

Figure 4: Entertainment and Media Market size (2022 vs 2032) (usd million) by region

Source: Secondary Research, Primary Research, Market Research Future Database, and Analyst Review

Further, the major countries studied in the market report are the U.S., Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

European marketing platform market accounts for the second-largest market share. The rising penetration of the Internet across the European nations is one of the significant factors contributing to the growth of the entertainment & media market in this region. Western Europe, which includes countries such as the United Kingdom, Germany, Spain, France, and others, has a sizable market for radio broadcasters. The media business contributes significantly to the European economy and has enormous growth potential in the coming years by providing a diverse range of high-quality material to customers.

Increasing Internet connectivity in nations such as Russia, Denmark, Italy, and Sweden propels the video and entertainment business throughout the area. Furthermore, consumers want on-demand and live music videos via smartphones, tablets, and televisions. OTT subscriptions for streaming videos connected to news, sports, fitness, lifestyle, films, and music have increased rapidly in the United Kingdom, Germany, France, Italy, and Spain. The region also sees an increase in print media consumers, such as newspapers and magazines, which supports the region's media and entertainment economy.

The Asia-Pacific Entertainment and Media Market is expected to grow at the fastest CAGR between 2022 and 2032. The major factor driving the growth of the entertainment & media market in this region is the presence of major media providers and large populations in countries such as India and China demanding high-quality media content.

With a strong presence across different verticals and geographies, the Entertainment and Media market is highly competitive and dominated by established, pure-play vendors.

The major players in the market include Comcast Corporation, The Walt Disney Co., Netflix Inc., Paramount Global, Warner Bros. Discovery Inc., Fox Corporation, among others Comcast Corporation aims to maintain its position in the market via organic and inorganic strategies. It invests heavily in offering unique products and services to its user, which increases customer satisfaction. Netflix's strategy revolves around providing a personalized and flexible streaming experience to its customers. It has achieved this by leveraging advanced algorithms and machine learning to recommend content that is tailored to each user's individual preferences.

Netflix also invests heavily in producing its own original content, which has helped to differentiate it from its competitors and build a loyal subscriber base.

The entertainment and media market are characterized by the presence of many global, regional, and local players. The market is competitive, with all the players competing to gain market share. Strong competition, and increasing adoption of cloud, IoT, and AI, are key factors that confront the market growth. The vendors compete based on cost, product quality, reliability, and aftermarket services. It is crucial for the vendors to provide cost-efficient and high-quality services to survive and succeed in an intensely competitive market.