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With consumers becoming more digital, their media and entertainment consumption and purchase habits have also changed from multi-tasking while watching TV to accessing information through multiple devices. This brings on both challenges and opportunities around the distribution and usage of both print as well as digital content for companies throughout this industry. The user experiences and their engagement with the media industry is still the primary business objective while investing in this sector. The industry is dominated by the broadcast sector where television programs and commercials are the primary sources of revenue. The increasing popularity of 3D movies that give the audience experience of virtual reality is projected to drive the movie & entertainment market growth. The number of investors and buyers for the market continues to remain largely global. Increased spending on entertainment and change in the lifestyle of people in growing economies are expected to have a positive effect on revenue generation. Enhanced communication and distribution channels have increased the access of people to products.COVID-19 scenario analysis:
Top impacting factors: market scenario analysis, trends, drivers, and impact analysis
In the recent past, several live streaming virtual multichannel video programming distributors (MVPDs) had launched multiple offerings with a combination of live networks and on-demand contents. With consumers across all age groups streaming more content than ever before, there is an ongoing dynamic shift from traditional pay TV to subscription-based paid streaming video services along with the growth in the number of smartphones & tablet devices. The rising popularity of high-quality videos in terms of their clarity is expected to intensify the demand for better streaming media services. Furthermore, the focus of the OTT service providers, such as Netflix and Amazon, toward providing 3D movies along with the increasing popularity of 4K UHD content will be primary growth factor for the global media and entertainment content, thereby influencing the market growth positively.
The media & entertainment market landscape is highly competitive and consists of some of the prominent players leading across the industry. In terms of market share, some of the major players are currently dominating the movie & entertainment market. However, with advancement in the emerging network technology (5G) across OTT services, new players are increasing their market presence, thereby expanding their business footprint across the emerging economies.
Competitors involved in the movies & entertainment market are shifting their focus toward regional cinema to expand their creations. The trend to look beyond traditional mediums to establish stronger connections with the audiences is observed among the players. Rising demand for regionalization provides a broad range of themes and genres for filmmakers. Easy access to the audience through various platforms such as TV and the internet has encouraged new talents to come up. Increased adoption of mobile communication and the internet in countries such as China, South Korea, and India drives industry progress in emerging markets. Thus, the stagnation in the global movie & entertainment market due to the maturation of leading markets such as the U.S. is overcome by increasing demand and rapid progress in these countries.
Revenue generation is restricted due to high piracy rates and lower profit margins
through online streaming. The number of new entrants in online streaming
business has observed a rise. Developments in cybersecurity laws and tightening
legal actions against piracy are expected to reduce losses for the players. The
introduction of digital storage formats led to a drastic decline in the music & video
segment. Demand for CDs, DVDs, VCDs, and vinyl records witnessed a downfall
with increasing spread of internet and online streaming. Piracy is another
major factor contributing to the decline in the revenue share of music & video
segment.
However, in recent years, music & video segment is observed to have positive
growth. Change in operational strategies of music companies such as a partnership
with online streaming service providers and radio broadcast companies is
attributed to this positive growth.
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Questions answered in the movie & entertainment market research report:
Key Market Segments
Key Market Players