Press release
Media Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Media Market
What Will the Media Industry Market Size Be by 2025?
The media market has seen considerable growth in the past few years. The projections indicate it will rise from a worth of $2616.7 billion in 2024 to an estimated $2833.22 billion in 2025, reflecting a compound annual growth rate (CAGR) of 8.3%. This prior growth trend can be linked to factors such as enhanced literacy rates, significant economic expansion in emerging markets, rising consumer expenditure on home entertainment activities, improved internet accessibility, and the growth of virtual reality (VR).
What's the Long-Term Growth Forecast for the Media Market Size Through 2029?
The media market is set to experience a robust expansion in the coming years, expected to reach a substantial $3814.84 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.7%. This predicted growth during the forecast period is linked to a rising global population, advancements in technology, an increase in mergers within the media and entertainment sectors, and a surge in mobile video consumption. Key trends projected during this period involve creative networks, digital innovation centres, hubs for creativity and content innovation, governmental innovative introductions, news systems, strategic alliances, growth driven by big data, the use of motion-capture technology to lower production expenses, the application of stereoscopic 3D to enhance viewer enjoyment, digitization of print media like newspapers and magazines, along with the rising popularity of audiobooks.
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What Are the Key Growth Drivers Fueling the Media Market Expansion?
The TV and radio broadcasting sector is progressively integrating virtual reality (VR) to enrich audience experiences. Live instances like sporting events and music concerts are anticipated to stimulate the uptake of VR within the forecasted timeframe, enabling viewers to engage with significant events in an immersive environment. NextVR, a VR platform specializing in the delivery of live content, is a prime example. It broadcasted events such as the Daytona 500 and a Democratic forum, and further linked with Live Nation, an event management firm, to stream live music for global music enthusiasts. The surge in demand for VR-based content is predicted to propel the market forward.
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What Are the Key Trends Driving Media Market Growth?
The rise of autonomous drones is being embraced by both mainstream and novice filmmakers, since they elevate the film viewing experience by being cost-effective, lightweight and eliminating the risks linked to the use of cranes and cable cameras in film production. These flying devices come equipped with multiple rotors, an on-board high-resolution camera, and algorithms for video and image capturing. With minimal human intervention needed, they provide a 360-degree interactive recording experience. They service the need for aerial shots and capturing footage and images, eliminating the need for a cameraman in a helicopter. Major companies like DJI, Parrot, Yuneec, Kespry, Insitu and EHANG are at the forefront offering these autonomous drones.
How Is the Media Market Segmented?
The media market covered in this report is segmented -
1) By Type: TV And Radio Broadcasting, Film And Music, Information Services, Web Content, Search Portals And Social Media, Print Media
2) By Revenue model: Subscription, Advertisement, Sponsorship, Others
3) By Application: Wired, Wireless
Subsegments:
1) By TV And Radio Broadcasting: Television Broadcasting, Radio Broadcasting
2) By Film And Music: Film Production And Distribution, Music Production And Distribution
3) By Information Services: News Syndicates, Libraries And Archives
4) By Web Content, Search Portals, And Social Media: Web Portals, Search Engines, Social Media Platforms
5) By Print Media: Newspapers, Magazines, Books
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Which Companies Are Leading the Charge in Media Market Innovation?
Major companies operating in the media market include Alphabet Inc., Comcast Corporation, The Walt Disney Company, Netflix, Inc., Sony Group Corporation, Charter Communications Inc., Bertelsmann SE & Co. KGaA, Baidu, Inc., Viacom, Zeeya Digital, Zee Entertainment Enterprises Limited, SUN TV Network Limited, Shanghai media & entertainment limited (SMEG), D B Corp ltd, Eros international PLC, Spider AF, Qureka, Tencent, NetEase, lion &lion, Arena media, Dwa, Initiative, IPG media brands, Focus media, Media Reach Advertising, Media Alive, Hotspex Media, Red Apple Advertising, the PR Office, the7stars, Orchard Media & Events Group Ltd, Scorch, Mostly Media, Media frontier, Mando, Loop, Mayple, Fox Corporation, Vox Media, G/O Media Web FX, Smart Sites, Ignite visibility, Uplers, WebiMax, Page traffic Inc, Luma, Festival advisor and Dive, Thomson Reuters corporation, CBS corporation, Discovery Communication Inc, Omnicom Group Inc., Gannett co. Inc.
Which Regions Are Leading the Global Media Market in Revenue?
North America was the largest region in the media market in 2024. Africa is expected to be the fastest growing region in the forecast period. The regions covered in the media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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