APAC Media And Entertainment Market Size (2024 - 2029)

APAC Media and Entertainment Market Analysis

The APAC Media And Entertainment Market size is estimated at USD 1.28 trillion in 2024, and is expected to reach USD 1.62 trillion by 2029, growing at a CAGR of 4.77% during the forecast period (2024-2029).

The Asia Pacific media and entertainment market is expected to have a large growth rate over the forecast period. The growing internet penetration in the new economies of the region like India and Vietnam, which has led to an increased online media and entertainment market in these countries, are major factors that contribute to this growth. In addition, the increasing market growth in Asia-Pacific is being supplemented by a continuous shift to offline media and entertainment, as evidenced by the construction of amusement parks, events, and trade shows.

• As high-speed Internet has become easily affordable, viewers/audiences that prefer good quality content prefer smart TVs over other television systems. Also, the growing admiration for OTT streaming in audiovisual content is positively impacting the overall media and entertainment market in Asia-Pacific.
• Product development and advances implemented by market players have a significant influence on the Asia-Pacific media and entertainment market. Alibaba Pictures Group, EROS International Media Ltd., FantaWIld Holding Inc., Sony Corporation, Netflix, and Apple are some of the major players in the media and entertainment market. By offering a range of products, they are actively involved in the growth of the media and entertainment market, which is driven by strategies like mergers and acquisitions, partnerships and collaboration, technological progress, and so on.
• In today's context, the sector is going through a major transformation. Over the past few years, when this industry encountered a number of difficulties, issues with producing content, cinema closures, and cuts to advertising spending due to the pandemic, it has gone through a roller coaster ride. However, a cycle of strong revival followed that situation. Through the ways in which this sector has revitalized its charm and is now better performing than it was before the pandemic, agility and determination to face and cope with challenges have been demonstrated.
• Keeping pace with the changing conditions for producing quality and recognizable content is a fundamental feature of this sector. Consumer behavior and technology that pose a risk to the irrelevance of media and entertainment industries are changing rapidly as disruptive innovations approach their peak. A number of occupations within the industry, such as journalist, advertising, Digital Marketing, PR, and Public Relations, have benefited from the popularity of YouTube's videos, Podcasts, OTT media services with high-quality content, and online broadcasting.

APAC Media and Entertainment Industry Segmentation

The M&E industry is comprised of businesses that produce, distribute, and offer ancillary digital services and products for Motion Pictures, Television programs, and Commercials, along with Streaming Content, Music, Video and Audio recordings, Broadcast, Radio, Text and Book Publishing, e-Sports, and Video Games sectors. Media are consumed by audiences of all demographics and various channels, such as television, films, out-of-home (OOH), radio, animation, visual effects (VFX), music, gaming, digital advertising, live events, filmed entertainment, and print.

Asia-Pacific Media and Entertainment market is segmented by type (business to business (B2B), book publishing, filmed entertainment), and by country (China, India, Japan, Thailand, Malaysia, South Korea, Indonesia, Australia, Rest of Asia Pacific). The market sizes and forecasts are provided in terms of value in USD for all the above segments.