Latest news with #GlobalEntertainment&MediaOutlook
Korea Herald
5 days ago
- Business
- Korea Herald
Global entertainment and media industry revenues to hit US$3.5 trillion by 2029, driven by advertising, live events, and video games: PwC Global Entertainment & Media Outlook
LONDON, July 24, 2025 /PRNewswire/ -- The global entertainment & media (E&M) industry edged towards US$3 trillion in revenue in 2024 and is forecast to hit $3.5 trillion in 2029 as advertising spend surges across platforms, according to PwC's Global Entertainment & Media Outlook 2025-29, released today. The E&M industry is projected to grow at a compound annual growth rate (CAGR) of 3.7% until 2029 – a rate above the projected global economic growth average, but below pre-pandemic highs. Economic uncertainty and anaemic consumer spending growth, amid heightened domestic and international competition in the industry, is expected to weigh on E&M growth rates through the forecast period until 2029. Bart Spiegel, Global Entertainment and Media Leader, PwC US, said: "As the E&M industry continues to be impacted by broader economic uncertainty and constrained consumer spending, advertising is emerging as the leading powerhouse of the global entertainment and media industry's revenues – a transformation expected to continue as AI transforms delivery models, democratises content production, serves highly curated content experiences, and reduces barriers to entry. The E&M industry has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content." Advertising to serve as industry engine for revenue growth as AI transforms advertising models As growth for paid or subscription products slows amid heightened industry competition and constrained consumer spending – particularly in mature markets – advertising is forecast to represent a significant driver of revenue growth for the E&M industry at-large. Of the three major E&M categories analysed (connectivity, advertising, consumer), advertising is expected to grow fastest – three times as fast (6.1% CAGR) as the consumer category (2%). The fastest growing E&M revenue metrics over the next five years are all advertising driven – including retail advertising (15%), social and mobile on-stream video advertising (15%), and connected TV in-stream internet advertising (14%). Digital formats, which account for 72% of overall ad revenue in 2024, will rise to 80% in 2029, with new technologies including AI and hyper-personalisation expected to drive this even further. High growth areas include retail search advertising in e-shopping (rising from 32.7% in 2020 to 45.5% in 2029) and advertising in video games (rising from 32.8% in 2024 to 38.5% in 2029). AI is impacting the E&M industry in many ways. One of the areas in which it is likely to influence revenue growth is in connected TV (any television that connects to the internet to stream video content). In 2020, connected TV advertising revenue equated to just 5.9% of total traditional broadcast TV advertising. In 2024, this figure had jumped to 22%. But with the rise of digital engagement and the prospect of AI-assisted hyper-personalisation, which may lead to greater end-user uptake, connected TV ad revenues will rise to $51 billion in 2029 – equal to 45% of traditional broadcast TV advertising. For now, connectivity remains the largest category, with spending reaching $1.3 trillion in 2029, growing at CAGR of 2.8% and driven mainly by mobile internet service revenue. However, advertising's pronounced growth rates are set to see the gulf between connectivity and advertising spend rapidly narrow by 2029. Non-digital revenue – including live music, events and cinema box office – lead consumer spending Consumers may spend more of their free time online, but they continue to spend more of their entertainment budget offline. In 2024, non-digital formats accounted for 61% of consumer revenue – a level of spend expected to broadly continue through the forecast period. While global cinema box office spending is expected to rise from $33 billion in 2024 to $41.5 billion in 2029, consumers' preferences are continuing to shift toward locally produced films. Globally, the top five US studios' market share has dropped from over 60% before the pandemic to 51% in 2024. Video gaming remains an industry bright spot The global video gaming industry continues to be an engine of E&M growth, with the global video games market exceeding the movie and music industry combined. Total revenues were $224 billion in 2024, with the industry expected to grow to nearly $300 billion in 2029 at a CAGR of 5.7%. Developing markets continue to lead E&M industry growth rates Excluding connectivity revenues (e.g., mobile service subscriptions), the US comfortably leads as the world's largest E&M market by revenue. It is forecast to grow at a CAGR of 3.8% until 2029 – lagging below the global average of 4.2%. Looking elsewhere, E&M revenues in China – the second largest market – will rise at a CAGR of 6.1%, powered primarily by its internet advertising segment, with a CAGR or 8.9%. The fastest growing markets globally continue to be in developing markets, including India and Indonesia, all with CAGRs above 7.5%. In India, much of the growth will stem from internet advertising – which is growing at a CAGR of 15.9% – driven by expanding internet penetration, rising 5G connectivity, and the popularity of social media and short-form video content. Wilson Chow, Global Technology, Media and Telecommunications (TMT) Leader, PwC China, said: "Consumers have never had as numerous or diverse choices of entertainment services on offer, but this competition, paired with economic uncertainty and rising costs, is seeing consumer spend growth stagnate. If entertainment and media businesses are to capture new audiences and generate growth, they must be thinking about the connected ecosystems in which they operate, leveraging the power of advertising and AI, the combination of which is allowing for far more cost-effective and personalised content creation and engagement models." Notes to Editors About the PwC Global Entertainment and Media Outlook 2025-2029 The PwC Global Entertainment and Media Outlook is an annual report covering the industry. A total of 54 countries and territories, spread across North America, Western Europe, Central Europe, Middle East & Africa, Latin America and Asia Pacific, are represented within the Outlook. The 'Rest of MENA' grouping is treated as a territory and comprises Algeria, Bahrain, Jordan, Kuwait, Lebanon, Morocco, Oman and Qatar. This year, it expands its coverage with the inclusion of Mauritius and Oceania as a reported region. These 54 territories account for around 74% of the global population, and the sum of all territories generates the 'total' estimate. The forecasting process begins with the collection of accurate and comprehensive historical data from publicly available sources such as trade associations and government agencies, which are cited when used directly. To supplement this, proprietary insights are gathered through interviews with industry associations, regulators, and leading market players. This combination of public and private data ensures a robust foundation for building forecasts. About PwC
The Star
5 days ago
- Business
- The Star
AI-powered ads to drive growth for global entertainment and media industry, PwC says
Artificial Intelligence words are seen in this illustration taken March 31, 2023. REUTERS/Dado Ruvic/Illustration -Growing use of artificial intelligence in advertising is expected to boost the global entertainment and media industry's revenue to $3.5 trillion by 2029, according to PwC. The industry is projected to record a compound annual growth rate of 3.7% until 2029, the consulting firm said in its Global Entertainment & Media Outlook 2025-29 on Thursday. The growth will also be supported by non-digital categories such as live events. WHY IT'S IMPORTANT Economic uncertainty from inflation and shifting trade policies are prompting consumers to cut back on non-essential spending, pressuring entertainment subscriptions, movie outings and digital media. At this time, advertising is emerging as a significant driver of revenue growth for the industry at-large, PwC said. BY THE NUMBERS Digital formats, which accounted for 72% of overall ad revenue in 2024, will rise to 80% in 2029, with new technologies including AI and hyper-personalization expected to drive more end-market uptake, the report said. Ad revenue from connected TV is expected to rise to $51 billion in 2029, driven by higher digital engagement, PwC said. The industry is also set to benefit from strong video games revenue, which is forecast to grow to about $300 billion in 2029. KEY QUOTES "There's certain general macroeconomic pressures on individuals, families and advertising starts to subsidize a lot of that," said Bart Spiegel, global entertainment and media leader at PwC U.S. The industry "has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content," Spiegel said. (Reporting by Harshita Mary Varghese in Bengaluru; Editing by Shilpi Majumdar)
Cision Canada
5 days ago
- Business
- Cision Canada
Global entertainment and media industry revenues to hit US$3.5 trillion by 2029, driven by advertising, live events, and video games: PwC Global Entertainment & Media Outlook
Advertising spend forecasted to grow three times as fast (6.1%) as E&M consumer spending (2%) – as AI set to transform advertising models and drive hyper-personalisation Non-digital categories – such as live music, cinema and events – continues to lead consumer sector revenue, accounting for 61% of sector spending in 2024 Global cinema revenue expected to rise from $33 billion in 2024 to $42 billion in 2029, as international audiences continue to spend more on locally produced films Global video games revenue forecast to grow from $224 billion in 2024 to $300 billion in 2029 – exceeding movie and music industry revenues combined LONDON, July 24, 2025 /CNW/ -- The global entertainment & media (E&M) industry edged towards US$3 trillion in revenue in 2024 and is forecast to hit $3.5 trillion in 2029 as advertising spend surges across platforms, according to PwC's Global Entertainment & Media Outlook 2025-29, released today. The E&M industry is projected to grow at a compound annual growth rate (CAGR) of 3.7% until 2029 – a rate above the projected global economic growth average, but below pre-pandemic highs. Economic uncertainty and anaemic consumer spending growth, amid heightened domestic and international competition in the industry, is expected to weigh on E&M growth rates through the forecast period until 2029. Bart Spiegel, Global Entertainment and Media Leader, PwC US, said: "As the E&M industry continues to be impacted by broader economic uncertainty and constrained consumer spending, advertising is emerging as the leading powerhouse of the global entertainment and media industry's revenues – a transformation expected to continue as AI transforms delivery models, democratises content production, serves highly curated content experiences, and reduces barriers to entry. The E&M industry has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content." Advertising to serve as industry engine for revenue growth as AI transforms advertising models As growth for paid or subscription products slows amid heightened industry competition and constrained consumer spending – particularly in mature markets – advertising is forecast to represent a significant driver of revenue growth for the E&M industry at-large. Of the three major E&M categories analysed (connectivity, advertising, consumer), advertising is expected to grow fastest – three times as fast (6.1% CAGR) as the consumer category (2%). The fastest growing E&M revenue metrics over the next five years are all advertising driven – including retail advertising (15%), social and mobile on-stream video advertising (15%), and connected TV in-stream internet advertising (14%). Digital formats, which account for 72% of overall ad revenue in 2024, will rise to 80% in 2029, with new technologies including AI and hyper-personalisation expected to drive this even further. High growth areas include retail search advertising in e-shopping (rising from 32.7% in 2020 to 45.5% in 2029) and advertising in video games (rising from 32.8% in 2024 to 38.5% in 2029). AI is impacting the E&M industry in many ways. One of the areas in which it is likely to influence revenue growth is in connected TV (any television that connects to the internet to stream video content). In 2020, connected TV advertising revenue equated to just 5.9% of total traditional broadcast TV advertising. In 2024, this figure had jumped to 22%. But with the rise of digital engagement and the prospect of AI-assisted hyper-personalisation, which may lead to greater end-user uptake, connected TV ad revenues will rise to $51 billion in 2029 – equal to 45% of traditional broadcast TV advertising. For now, connectivity remains the largest category, with spending reaching $1.3 trillion in 2029, growing at CAGR of 2.8% and driven mainly by mobile internet service revenue. However, advertising's pronounced growth rates are set to see the gulf between connectivity and advertising spend rapidly narrow by 2029. Non-digital revenue – including live music, events and cinema box office – lead consumer spending Consumers may spend more of their free time online, but they continue to spend more of their entertainment budget offline. In 2024, non-digital formats accounted for 61% of consumer revenue – a level of spend expected to broadly continue through the forecast period. While global cinema box office spending is expected to rise from $33 billion in 2024 to $41.5 billion in 2029, consumers' preferences are continuing to shift toward locally produced films. Globally, the top five US studios' market share has dropped from over 60% before the pandemic to 51% in 2024. Video gaming remains an industry bright spot The global video gaming industry continues to be an engine of E&M growth, with the global video games market exceeding the movie and music industry combined. Total revenues were $224 billion in 2024, with the industry expected to grow to nearly $300 billion in 2029 at a CAGR of 5.7%. Developing markets continue to lead E&M industry growth rates Excluding connectivity revenues (e.g., mobile service subscriptions), the US comfortably leads as the world's largest E&M market by revenue. It is forecast to grow at a CAGR of 3.8% until 2029 – lagging below the global average of 4.2%. Looking elsewhere, E&M revenues in China – the second largest market – will rise at a CAGR of 6.1%, powered primarily by its internet advertising segment, with a CAGR or 8.9%. The fastest growing markets globally continue to be in developing markets, including India and Indonesia, all with CAGRs above 7.5%. In India, much of the growth will stem from internet advertising – which is growing at a CAGR of 15.9% – driven by expanding internet penetration, rising 5G connectivity, and the popularity of social media and short-form video content. Wilson Chow, Global Technology, Media and Telecommunications (TMT) Leader, PwC China, said: "Consumers have never had as numerous or diverse choices of entertainment services on offer, but this competition, paired with economic uncertainty and rising costs, is seeing consumer spend growth stagnate. If entertainment and media businesses are to capture new audiences and generate growth, they must be thinking about the connected ecosystems in which they operate, leveraging the power of advertising and AI, the combination of which is allowing for far more cost-effective and personalised content creation and engagement models." Notes to Editors About the PwC Global Entertainment and Media Outlook 2025-2029 The PwC Global Entertainment and Media Outlook is an annual report covering the industry. A total of 54 countries and territories, spread across North America, Western Europe, Central Europe, Middle East & Africa, Latin America and Asia Pacific, are represented within the Outlook. The 'Rest of MENA' grouping is treated as a territory and comprises Algeria, Bahrain, Jordan, Kuwait, Lebanon, Morocco, Oman and Qatar. This year, it expands its coverage with the inclusion of Mauritius and Oceania as a reported region. These 54 territories account for around 74% of the global population, and the sum of all territories generates the 'total' estimate. The forecasting process begins with the collection of accurate and comprehensive historical data from publicly available sources such as trade associations and government agencies, which are cited when used directly. To supplement this, proprietary insights are gathered through interviews with industry associations, regulators, and leading market players. This combination of public and private data ensures a robust foundation for building forecasts. About PwC At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We're a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at
Yahoo
16-04-2025
- Business
- Yahoo
Vertiqal Studios Joins Dawn, Accelerating Expansion Across Digital Media and Youth Engagement
Largest Owner-Operator of Gaming and Lifestyle Social Channels Adds Social-First Firepower to Dawn's Specialist Agency Portfolio Toronto, Ontario--(Newsfile Corp. - April 16, 2025) - Vertiqal Studios Corp. (TSX: VRTS) (OTC Pink: VERTF) (FSE: 9PY0) ("Vertiqal Studios"), a leading digital-channel network and video-production studio, announced today that it has joined Dawn, a company with a collective portfolio of best-in-class, independent agencies to meet the demands of today's marketers. This strategic alignment brings Vertiqal's strength in the gaming and lifestyle space to Dawn's growing ecosystem of specialist partners. As the largest owner, operator, and content producer across North America's gaming and lifestyle social media landscape, Vertiqal Studios adds powerful end-to-end capabilities to Dawn's offering - particularly for brands seeking to reach younger audiences through culturally resonant, social-first storytelling. With a track record of producing more than 100+ pieces of content daily and managing over 130 channels across TikTok, Instagram, and Snapchat, Vertiqal powers social strategies for major global brands including Coca-Cola, ESPN, Lionsgate, Celsius, NHL, Chili's, and Samsung. "Today's marketers are targeting culture, not just categories," said Bob Kantor, CEO of Dawn. "They need partners that bring creativity, agility, data, and relevance. Vertiqal Studios lives at the center of where modern audiences engage-with content, with creators, and with each other. Their gaming and lifestyle expertise adds a critical dimension to Dawn's collaborative model of independent agencies." This strategic relationship comes at a time when marketers are rapidly evolving their media strategies. Global gaming ad spend is projected to exceed $131 billion by 2028 (Source: PwC Global Entertainment & Media Outlook 2024-2028), driven by the exponential growth of in-game advertising, esports, and creator-led content. Meanwhile, social media advertising spend reached over $270 billion in 2024, accounting for nearly one-third of global digital ad spend, and is expected to grow at a compounded annual growth rate of 10.5% through 2028 (Source: Statista, Social Media Advertising Worldwide Report, 2024). This shift reflects how Gen Z and Millennial consumers are spending their time: over 90% of Gen Z uses social media daily (Source: GWI, Global Social Media Trends 2024), and platforms like TikTok, Instagram, and Snapchat now outpace traditional media in engagement and reach (Source: Pew Research, Social media outpaces print newspapers in the U.S. as a news source). Vertiqal Studios's ability to build and scale authentic brand stories across these platforms positions it as a strategic asset in Dawn's modern marketing mix. "We're incredibly proud to join the Dawn portfolio and work alongside some of the most forward-thinking agencies in the industry," said Jon Dwyer, Chairman and CEO of Vertiqal Studios. "Together, we'll provide marketers with a modern, integrated solution that unites creative excellence, social expertise, and scalable distribution through a data-first orientation-delivering results that matter in today's media landscape." About Vertiqal Studios Vertiqal Studios owners of North America's largest gaming and lifestyle network on social media, is a leading digital-channel network and video-production studio. The company specializes in the creation and distribution of viral videos for brands and advertisers to create always-on digital strategies that live authentically in Gen Z and Millennial culture. Vertiqal Studios partners with leading brands to develop strategic solutions, creative ideation, and content production, while also providing distribution and amplification through its Owned & Operated channels - all delivered with boutique, white-glove service. Its expertise lies with managing over 130 channels across TikTok, Instagram, and Snapchat, while producing over 100+ pieces of content a day for a growing audience of 52 million-plus followers. For more information and to join our email subscriber list for direct press releases and newsletters, visit About Dawn Dawn is the portfolio of best-in-class, marketing services agencies with centralized data science, advanced analytics, econometric measurement, and media at the center. In partnership with talented, specialist agencies in advertising and branding, public relations, digital technology, brand strategy, CRM, gaming, analytics/measurement/research, comms planning, media, barter, influence, social, and sports marketing, Dawn is The Modern Marketing Model. Dawn partner agencies include Active International, BarkleyOKRP, Bleacher Report, Bridgenext, Co:Collective, Crossmedia, NIL Influence, Involved Media, PeopleFirst, Pixis, Redbox, Redpeg, Rethink, System 1, Vertiqal Studios. For more, visit Media Contact: Jon DwyerChairman and Chief Executive OfficerVertiqal Studios Corp. +1 (416) 627-8868 jon@ Investor Relations: ir@ Forward-Looking Information This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. These statements relate to future events or future performance. All statements other than statements of historical fact may be forward-looking statements or information. The forward-looking statements and information are based on certain key expectations and assumptions made by management of the Company. Although management of the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information since no assurance can be given that they will prove to be correct. Forward-looking statements and information are provided for the purpose of providing information about the current expectations and plans of management of the Company relating to the future. Readers are cautioned that reliance on such statements and information may not be appropriate for other purposes, such as making investment decisions. Since forward-looking statements and information address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. The forward-looking statements and information contained in this news release are made as of the date hereof and no undertaking is given to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. The forward-looking statements or information contained in this news release are expressly qualified by this cautionary statement. To view the source version of this press release, please visit
