Market Trends of Media & Entertainment Industry
Streaming Media Sector is Gaining Traction Due to Emergence of OTT Media Across Online Platform
- Video streaming, mainly referred to as OTT, has taken the Media and Entertainment (M&E) industry by storm in the last decade. The studios that used only to create content and were dependent on broadcasters and distributors for reaching consumers are going directly to consumers (D2C). Similarly, broadcasters that have always depended on cable or DTH companies to distribute their programs and content now take it to consumers.
- In addition, OTT platforms like Apple, Amazon, Google, and Samsung are being launched by companies in adjacent and entirely other sectors. These changes have brought about a drive for vertical integration, which has caused hyper M&A activity mainly driven by access and control of good content and direct contact with consumers. With OTT, anyone can reach consumers directly without reliance on a cable or direct television provider or movie theatre company using short content hours and an internet site or app.
- OTT players are increasingly populating the market dominated by free-to-air, direct-to-home (DTH) broadcasting until now. GCC countries are increasingly investing in upgrading technology due to various nations' broadband initiatives to support OTT videos. An increasing number of broadcasting networks such as Starz Play, icflix, Istikana, and Netflix, operating globally and locally, offer subscription-based VOD services for viewers in the region.
- Demand for better streaming media services is expected to be boosted by the growing popularity of high-quality videos in terms of clarity. The main growth driver for global media and entertainment content will also be an increase in OTT service providers, i.e., Netflix and Amazon, focusing on delivering 3D movies and expanding the popularity of 4K UHD content, thus positively impacting market development.
- According to the Office of Electronic Communications, in 2023, 58% of the surveyed Poles used over-the-top video subscriptions daily or several times a week, and 18% of respondents stated that their OTT video subscriptions were used several times a month.
Understand The Key Trends Shaping This Market
Download PDF
North America to Register the Largest Growth Region During the Forecast Period
- North America's media and entertainment sector, which includes motion pictures, television shows & commercials, streaming content, music and aural recordings, broadcasts, radio or book publishing, and its evolving social media presence in this region, is the world's largest growing industry.
- Digital formats are increasingly becoming a part of media consumption in North America. The possibility of accessing media content of your choice has been made available thanks to the growing number of devices supporting digital and OTT platforms and increasing Internet speed. There has been a tremendous rise in media consumption in the country, with both traditional and digital media growing significantly.
- In the coming years, users will look to home theatre and other audio systems to get a real film experience as they become increasingly interested in watching films through online television services, increasing the studied market segment.
- Internet penetration has disrupted the distribution and consumption channels for digital media. The country's data consumption has increased due to better network coverage and advanced communications technologies like 3G, 4G, or LTE.
Get Analysis on Important Geographic Markets
Download PDF
