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Movies And Entertainment Products Market Size, Share, & Trends Analysis Report (2023 – 2030)
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Report Overview
The global movies and entertainment products market was valued at USD 193.1 billion in 2022 and is projected to expand at a CAGR of 10.2% from 2023 to 2030. The rising demand for internet-based video streaming services and the increasing penetration of the internet and smartphones are expected to drive the market. The market is driven by the widespread adoption of streaming services, such as Netflix and Amazon Prime Video, due to the various benefits they offer. Furthermore, the increasing demand for 3D and 4D cinema experience is expected to fuel the market’s growth during the forecast period.
The emergence of the internet of things (IoT) is transforming the way people consume media, enabling them to access content anytime, anywhere. With the increasing penetration of the internet, the online entertainment sector is witnessing rapid growth, which, in turn, is expected to fuel the movies and entertainment products market. Furthermore, the increasing demand for advanced technologies, such as virtual reality (VR), augmented reality (AR), and mixed reality (MR), is boosting the market growth.
In addition, the increasing demand for home theater systems is another factor driving the market. Home theater systems provide superior sound and picture quality compared to regular television sets. They are also gaining popularity among users due to their advanced features, such as surround sound, which provides a cinema-like experience. Additionally, the rising trend of digital gaming and the increasing number of gaming tournaments are expected to fuel the market in the coming years.
Moreover, the increasing trend of binge-watching and the growing demand for subscription-based streaming services are driving the growth of the market. Furthermore, the rising demand for online streaming services such as Netflix and Hulu is propelling the market. Additionally, the growing trend of cord-cutting and the increasing demand for online content are expected to fuel the growth of the market.
Furthermore, the increasing demand for streaming content on portable devices is also driving the market. The increasing use of portable devices, such as smartphones and tablets, is expected to drive the demand for streaming services. In addition, the increasing demand for interactive gaming is expected to propel the market. Furthermore, the increasing demand for 3D and 4D cinema experiences is expected to support the growth of the market.
Product Insights
The streaming segment holds the largest market share and is expected to continue its dominance in the forecast period. This is due to the increasing preference of consumers towards streaming services, as it provides a wide range of content and convenience. According to a report by Statista, the global streaming market revenue was valued at USD 47.2 billion in 2020 and is expected to reach USD 134.2 billion by 2024. Moreover, increasing internet penetration, rising disposable incomes and the emergence of new streaming services are some of the key factors driving the demand for streaming services worldwide.
The home theater segment is expected to expand at the fastest CAGR of 8.3% over the forecast period. This is due to the increasing popularity of home theater systems among consumers for movies and gaming, as these systems provide an immersive experience. According to an article published by The New York Times, in April 2020, the home entertainment market has seen an increase in sales due to the COVID-19 pandemic. Furthermore, technological advancements such as the availability of high-resolution audio and video formats are boosting the demand for home theater systems.
Distribution Channel Insights
The movie theaters segment accounted for the major share of over 49.2% in 2022. The growth of the segment is mainly driven by the rising consumer preference for watching movies in theaters. Movie theaters provide an immersive and engaging medium to consume content, which can’t be replicated in home environments. According to a study by Deloitte in 2021, the average movie ticket price has increased by 8.5% year-on-year, with the highest ticket price being witnessed in the US. Additionally, the increasing number of multiplex chains and new theater constructions in developing countries are also driving the growth of the segment.
The online segment is anticipated to expand at the highest CAGR of 13% over the forecast period. According to a study by Deloitte in 2021, the online streaming sector has grown significantly in the past few years, owing to the increasing availability of high-speed internet connections, increasing user base of OTT platforms, and rising demand for on-demand content. Additionally, the growing adoption of mobile devices and increasing disposable incomes are also contributing to the growth of the segment.
Type Insights
The theatres segment accounted for the largest revenue share of 77.2% in the year 2022. The surge in multiplexes and increased movie ticket prices in developed countries are estimated to drive the segment growth. For instance, in April 2021, AMC Theatres, a U.S. based theatre chain, opened its doors in the United Kingdom. This step is expected to create new opportunities for the market. Also, governments in developing countries are taking initiatives to improve infrastructure to provide better services to their citizens. This is likely to further bolster the segment growth.
The streaming segment is estimated to expand at the highest CAGR of 10.2%. This can be attributed to the rising demand for movies and series on various digital platforms. The growing popularity of OTT platforms such as Netflix, Amazon Prime Video, and Disney+ Hotstar is creating new opportunities for the market. Furthermore, increasing Internet penetration in developing countries is creating a conducive environment for the segment growth.
Regional Insights
North America is expected to be the largest market for movies and entertainment products in 2022. This is attributed to the presence of numerous prominent players in the region. Moreover, North America is home to a high number of online streaming platforms, such as Apple TV, Amazon, and Disney+, which offer a vast array of content, such as movies, documentaries, live sports, and TV series. Furthermore, the presence of a large population of tech-savvy users with access to high-speed internet is also helping drive the growth of the market in the region.
The Asia Pacific is expected to witness the fastest growth in the coming years due to the presence of large and growing population base in the region. Additionally, the increasing penetration of the internet and rising disposable income of the consumers are also expected to drive the demand for movies and entertainment products in the region. Furthermore, the emergence of numerous over-the-top (OTT) platforms, such as Zee5, SonyLIV, and Hotstar, in the region is also expected to contribute to the growth of the market in the region.
Financial Projections
In this part of the Movies And Entertainment Products business plan, we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for Movies And Entertainment Products. Usually, these projections are drafted for a 5-year period.
Revenue Assumptions
The main source of revenues for a Movies And Entertainment Products business comes from the sale of DVDs, Blu-rays, streaming services, video-on-demand services, ticket sales, and merchandise. Here you will find a list with a description of each of them and other possible sources of profit such as rental fees, subscription fees, advertising, and sponsorships.
Projecting Expenses
In this section, all the regular expenses related to keeping the Movies And Entertainment Products business running will be described. The list of operating expenses includes wages, rent, utilities, insurance policies, advertising, film production costs, talent fees, equipment rentals, streaming costs, and others.
Key companies & market share insights
Some of the key companies operating in the movies and entertainment market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:
– In June 2022, Netflix Inc. launched the ‘Netflix Originals’, a platform for exclusive releases of movies and TV shows.
– In August 2022, Disney+ launched its streaming service, Disney Plus, providing access to a wide range of movies, TV shows, and originals.
– In October 2022, Amazon Prime Video launched a new feature, ‘Watch Parties’, enabling people to watch movies and TV shows together.
Some of the prominent players in the movies and entertainment market include:
– Netflix Inc.
– Disney+
– Amazon Prime Video
– Hulu
– HBO Max
– CBS All Access
– Apple TV+
– Peacock
– YouTube TV
– Sling TV
Global Movies And Entertainment Market Segmentation
This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global movies and entertainment products market based on product, distribution channel, type, and region:
1. Product Outlook (Revenue, USD Million, 2017 – 2030)
– Movies
– Music
– TV Shows
– Video Games
– Others
2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)
– Online
– Retail
– Others
3. Type Outlook (Revenue, USD Million, 2017 – 2030)
– Physical
– Digital
4. Regional Outlook (Revenue, USD Million, 2017 – 2030)
– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa
Frequently Asked Questions
[Q]: What is the Market Outlook for Movies and Entertainment Products?
[A]: The global movies and entertainment products market is expected to witness a CAGR of 6.1% during the forecast period from 2021 to 2027. The market is driven by increasing demand for movies, music streaming services, and gaming services. Moreover, the increasing popularity of video-on-demand services, such as Netflix and Amazon Prime Video, is driving the market.
[Q]: What are the Key Market Drivers?
[A]: The key market drivers include the growing trend of digitalization, increasing disposable incomes, and the rising demand for OTT services. The growing demand for content across various media platforms is also driving the market.
[Q]: Who are the Key Players in the Movies and Entertainment Products Market?
[A]: The key players in the market include Disney, Apple, Inc., WarnerMedia, Amazon, Comcast Corporation, Netflix, Inc., Vivendi, Sony Corporation, AT&T, Inc., Roku, Inc., and ViacomCBS.
[Q]: What is the Regional Breakdown of the Movies and Entertainment Products Market?
[A]: North America is expected to remain the dominant region in the global movies and entertainment products market due to the presence of a large number of established players in the region. The market in Asia Pacific is expected to witness significant growth in the near future due to increasing digitalization, rising disposable incomes, and the presence of a large population base.
[Q]: What are the Growth Opportunities for Movies and Entertainment Products?
[A]: The market offers opportunities for growth in the form of increased investments in content production, rising demand for OTT services, and increasing focus on virtual reality. Additionally, the increasing demand for subscription-based streaming services is expected to create opportunities for the market in the near future.
Research Methodology
Impact Analytix employs a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. The company utilizes a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. In Addition, a recurring theme prevalent across all our research reports is data triangulation which looks market from three different perspectives. Critical elements of the methodology employed for all our studies include:
Preliminary data mining
Raw market data is obtained and collated on a broad front. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. For a comprehensive understanding of the market, it is essential to understand the complete value chain and in order to facilitate this; we collect data from raw material suppliers, distributors as well as buyers.
Technical issues and trends are obtained from surveys, technical symposia, and trade journals. Technical data is also gathered from an intellectual property perspective, focusing on white space and freedom of movement. Industry dynamics with respect to drivers, restraints, and pricing trends are also gathered. As a result, the material developed contains a wide range of original data that is then further cross-validated and authenticated with published sources.
Statistical model
Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously. These factors are studied on a comparative basis, and their impact over the forecast period is quantified with the help of correlation, regression, and time series analysis. Market forecasting is performed via a combination of economic tools, technological analysis, industry experience, and domain expertise.
Econometric models are generally used for short-term forecasting, while technological market models are used for long-term forecasting. These are based on an amalgamation of the technology landscape, regulatory frameworks, economic outlook, and business principles. A bottom-up approach to market estimation is preferred, with key regional markets analyzed as separate entities and integration of data to obtain global estimates. This is critical for a deep understanding of the industry as well as ensuring minimal errors. Some of the parameters considered for forecasting include:
Market drivers and restraints, along with their current and expected impact
Raw material scenario and supply v/s price trends
Regulatory scenario and expected developments
Current capacity and expected capacity additions up to 2030
We assign weights to these parameters and quantify their market impact using weighted average analysis, to derive an expected market growth rate.
Primary validation
This is the final step in estimating and forecasting our reports. Exhaustive primary interviews are conducted, face to face as well as over the phone to validate our findings and assumptions used to obtain them. Interviewees are approached from leading companies across the value chain including suppliers, technology providers, domain experts, and buyers so as to ensure a holistic and unbiased picture of the market. These interviews are conducted across the globe, with language barriers overcome with the aid of local staff and interpreters. Primary interviews not only help in data validation but also provide critical insights into the market, current business scenario, and future expectations and enhance the quality of our reports. All our estimates and forecast are verified through exhaustive primary research with Key Industry Participants (KIPs) which typically include:
Market-leading companies
Raw material suppliers
Product distributors
Buyers
The key objectives of primary research are as follows:
To validate our data in terms of accuracy and acceptability
To gain an insight into the current market and future expectations
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