Movies and Entertainment Global Market Report 2024

The movies and entertainment market size has grown strongly in recent years. It will grow from $95.36 billion in 2023 to $103.76 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to cinematic innovations and storytelling, the influence of celebrities and star power, the globalization of the film industry, the emergence of blockbuster films, and the evolution of distribution channels.

The movies and entertainment market size is expected to see strong growth in the next few years. It will grow to $140.18 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to the dominance of streaming services, the production of original content, the integration of virtual reality (VR), global collaborations and co-productions, and consumer demand for convenience. Major trends in the forecast period include short-form and bite-sized content trends, collaborations between filmmakers and streaming platforms, the integration of artificial intelligence (AI) in content recommendations, the adoption of dynamic pricing models, and the influence of social media platforms on content discovery.

The anticipated growth in the movie and entertainment markets is attributed to the burgeoning popularity of 3D movies. These films, characterized by their three-dimensional visual presentation, offer audiences a heightened and immersive viewing experience. Notably, 3D movies contribute visual artistry, increased realism, effective audience engagement, and an enriched overall experience. As highlighted in a September 2020 report by the Motion Picture Association, the global box office business witnessed a significant boost in 3D technology, accounting for 7% of the market share in 2021 - a 1% increase from the previous year. Furthermore, the global 3D box office market surged by an impressive 112%, reaching $1.4 billion in 2021 compared to figures from 2020. This surge in 3D movie popularity serves as a driving force propelling the growth trajectory of the movie and entertainment market.

The anticipated expansion of the movies and entertainment market is propelled by the increasing prevalence of online video platforms. These platforms, digital services or websites accessible over the Internet, provide a wide array of movie and entertainment content to a global audience. By eliminating geographical barriers, online video platforms enable global accessibility to movies and entertainment content via streaming or downloading, significantly expanding the potential viewer base. For instance, ASO World reported a staggering 548 billion hours spent streaming content through mobile devices in 2021. This escalating presence and usage of online video platforms signify a pivotal catalyst driving the expansion of the movies and entertainment market, enhancing accessibility and global reach for movie enthusiasts worldwide.

The growth trajectory of the movies and entertainment market faces a substantial constraint due to intense competition prevailing in the industry during the forecast period. This high level of competition poses challenges for both new entrants seeking market entry and existing players striving to retain their market share. Additionally, the competitive landscape constrains profit margins for entities operating within this market. Notably, in 2021, Gruvi noted that the release of major blockbuster films encountered distinctive hurdles attributable to the cutthroat competition within the entertainment market. Consequently, this high level of competition acts as a significant impediment hindering the growth potential of the movies and entertainment market.

Leading companies within the movie and entertainment sector are channeling their efforts towards developing advanced solutions, notably streaming and playout Software as a Service (SaaS), aimed at delivering dependable services to their clientele. Streaming and playout SaaS, functioning as cloud-based solutions, offer comprehensive video delivery platforms catering to media handling, live broadcasting, and playout requirements. For instance, Evertz, a Japan-based communication equipment company, introduced evertz.io in October 2021 - an innovative streaming and playout SaaS service. This platform encompasses extensive functionality for video, audio, caption, and graphics insertion. Moreover, it offers diverse streaming video inputs and outputs, including 4K ultra-high definition (UHD) streaming with high dynamic range (HDR), supporting major video transport technologies such as RIST, SRT, and ZIXI. This emphasis on cutting-edge solutions underscores the industry's drive towards enhancing service offerings and embracing evolving technological advancements amidst a competitive landscape.

In March 2022, Amazon.com, Inc., a US-based technology and e-commerce company, acquired Metro-Goldwyn-Mayer Studios Inc. (MGM) for $8.5 billion. With this acquisition, Amazon expanded its Prime Video platform by adding more than 4,000 movies and 17,000 TV series, gaining a competitive advantage in the streaming industry. Metro-Goldwyn-Mayer Studios Inc. is a US-based media company known for its valuable intellectual property, including films and television series.

Major companies operating in the movies and entertainment market report are Amazon.com Inc., Apple Inc., The Walt Disney Company, Netflix Inc., Twenty-First Century Fox Inc., The Cannon Group Inc., Paramount Global, Hulu LLC, Warner Bros. Entertainment Inc., Home Box Office Inc., Lions Gate Entertainment Corp., Universal Pictures Corporation, DreamWorks Animation LLC, Pixar Animation Studios, Village Roadshow Pictures, Focus Features LLC, Twentieth Century Studios Film Corporation, STX Entertainment LLC, Miramax LLC, Constantin Film AG, Participant Media LLC, Legendary Entertainment Productions LLC, A24 Films LLC, Blumhouse Productions LLC, Amblin Partners LLC.

North America was the largest region in the movies and entertainment market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the movies and entertainment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa The countries covered in the movies and entertainment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The movie and entertainment market consists of revenues earned by entities by providing open mic nights, sporting events, and comedy clubs. The market value includes the value of related goods sold by the service provider or included within the service offering. The movies and entertainment market also includes sales of televisions, smartphones, and laptops, which are used in providing movies and entertainment services. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The primary types of movies and entertainment include print media, digital media, and streaming media. Print media refers to a traditional form of communication and entertainment that encompasses printed materials such as books, periodicals, newspapers, and pamphlets. Viewers can experience these forms of entertainment through theaters and over-the-top platforms. These entertainment options find applications in various settings, including residential and commercial environments.

The movies and entertainment market research report is one of a series of new reports that provides movies and entertainment market statistics, including movies and entertainment industry global market size, regional shares, competitors with a movies and entertainment market share, detailed movies and entertainment market segments, market trends, and opportunities, and any further data you may need to thrive in the movies and entertainment industry. This movies and entertainment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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