Tech Trends & News

The world’s fast-growing entertainment market by 2021 to 493 billion dollars.

entertainment market

 

entertainment market
entertainment market

The global entertainment market – including video, music and video games – will grow by 17% in the next three years to $ 439 billion.

The hierarchy between different hobbies is respected, according to Tristan Veale, an analyst at Futuresource Consulting: “As expected, television and video account for the lion’s share of consumer spending. But we are witnessing the revival of music and the constant innovations in the gaming sector are impacting consumers, mainly because of the importance of smartphones. In the end, music and gaming will grow by 7% over the next 5 years, while the video will have to be content with 2% growth.

SVOD imposes its power on the video market

In just a few years, subscription video-on-demand services have quickly dominated the domestic video market (including DVD, Blu-ray, VOD, EST, and SVOD). In the United States, the best-known services are Netflix, Amazon, and Hulu. In 2013, SVOD accounted for only 13% of household video expenditure; At the end of 2017, the SVOD accounts for almost half of the $ 42 billion spent by households worldwide. The growth rate of the SVOD will remain sustained until 2021 at a rate of 15% per year. According to Futuresource Consulting, the SVOD will become even more important: “2017 was the year when SVOD’s annual expenditures exceeded those of physical products, but by 2021 the SVOD will account for 70% of total expenditures homes for home video as households will subscribe to several subscription-on-demand services, services that will contribute to this growth. ”

Pay TV remains the leader

On a relative basis, the SVOD is progressing rapidly, but it remains at a good distance from the Pay TV: the SVOD receipts were $ 9.5 billion in 2017 (Source: DEG), those of the pay television weighed 200 billion. For Futuresource Consulting, the attraction for pay TV is based on several factors: the triple or quadruple play offerings of operators who integrate TV packages, the offer of premium programs giving access to exclusive programs, the most notable being sports.
Pay TV spending rose 4% in 2017, with the United States still leading the way, accounting for nearly half of global spending of $ 106 billion. In terms of market size, China ranks first with 336 million subscribing households, but their spending is only 1 / 10th of that of US households, or $ 3 on average. However, several TV markets are experiencing a decline in their number of subscribers: the United States, Canada, and France being the most significant with a fall of between 1 and 3%. In the United States, subscription revenues continued to rise as a result of annual increases and consumer migration to higher-level bundles.

 

for honesty Read the full article with ZDNet