The global entertainment market is expected to witness significant growth over the forecast period. The growth may be attributed to changing consumer tastes and trends in the way they acquire and use entertainment content. The global entertainment market is expected to evolve significantly with new ideas and innovations for the rapidly changing market. Growing consumer base coupled with improvements in mobile technology is expected to drive the mobile entertainment market. Increasing smartphone users and rising application downloads are also expected to favorably impact market growth over the next few years.
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The entertainment industry comprises news and information, creation, distribution of content, aggregation, and advertising through various media channels and platforms. Electronic entertainment, exhibition entertainment, live entertainment, mass media entertainment, and musical entertainment combine to make the entertainment market. Mobile, home, filmed, in-flight and media entertainment are some of the basic applications of the entertainment market. Digital technology coupled with ubiquitous connectivity is expected to favorably impact market growth. Increasing digitization is expected to escalate the growth of the global entertainment market over the next few years.
Cellular devices are expected to become media devices in the entertainment industry. Ability to watch television shows, news and movies online is further expected to popularize the web-based entertainment segment under the global entertainment market. Monetizing the digital consumer is expected to pose challenge to this market. Additionally, growing complexity along numerous dimensions may also hinder market growth. However, technological advancements such as high-definition and three-dimensional televisions may favorably impact market growth. In addition, presence of high-tech network infrastructure (3G/4G mobile network) paired with availability of wireless broadband technology is also expected to drive the global entertainment market over the next six years.
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North America is expected to account for the largest market share in the global entertainment market. However, emerging economies such as Asia Pacific are projected to exhibit high growth potential in the global entertainment market over the forecast period.
Key market participants include Xaxis, Netflix Inc, Kerzner International Holdings Limited, Disney/ABC Television Group, CBS Radio, Belo Corp, About Inc., Advance Publications Inc., Activision Blizzard Inc., and ACME Communications Inc.
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