Expenditure on media and entertainment is projected to reach USD 2 trillion by the end of 2015, according to the estimates of market experts. The expected growth rate of this industry is likely to be 5.5% until 2015. As markets recover from the global recession, consumers are showing a growing preference for digital media platforms. This demand is growing at a robust rate, and is thus leading to a rise in the overall revenues of the media industry.
The media industry has hundreds of small and large companies operating within it that contribute by way of content such as printed publications, television programs, audio recordings, radio, internet content and so on. The cable television broadcast industry, television broadcasting industry and radio industry are all significant contributors to the media sector worldwide. The other key segment within this industry is that of print publications that include newspapers and magazines. The internet is fast becoming a dominant medium and a massive amount of content is generated on the internet everyday and it is accessed by billions of people worldwide.
The fairly recent development of new technologies and platforms for accessing media has changed the dynamics of this industry. A greater screen culture is proving to be a death toll for the conventional forms of media such as printed newspapers and magazines.
Music forms a significant part of the media sector. The global digital music industry is likely to reach USD 13.75 billion by the end of 2013, which translates into a 30% expansion over a period of just four years starting 2009.
Printed news dailies are another integral sector within the world media market. Market analysts estimate this industry to reach a vale of USD 99 billion by the end of 2015 at a fairly steady growth rate of 10% until 2015.
At the same time, the broadcasting and cable industry is projected to reach a value of USD 475 billion till 2015. This would mean a 27% growth over a period of five years. Television advertising is a key segment within the broadcasting and cable industry and holds a 48% share in the overall broadcasting and cable industry market. Geographically, the largest share in this industry is held by the Americas.
On the other hand, experts opine that the industry for entertainment and movies is likely to register decelerating growth at a -0.3% annual rate. It will reach nearly USD 86 million by the end of 2015. The largest revenue chunk in this market comes from box office sales and constitutes nearly 36% of the overall market at USD 31 billion.
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