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How Big Is The Entertainment Industry?

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Entertainment Industry

The entertainment industry is simply a group of sub-industries that entertain. The term “entertainment” describes a mass of media companies that are in charge of the distribution and manufacturing of mass media. It comprises of dance, fields of theatre, fine art, literacy publishing, film, music, television, opera, and radio, among others. Did you know that the live refreshment industry, exhibition, film industry, and mass media are part of the entertainment industry? Therefore, this big industry contributes a great deal to the world’s economy.

What are the popular examples of the entertainment industry?

It is worth mentioning that this industry is a business that generates value. It mainly offers people interesting to do as well as watch. In simple reality, refreshment mainly targets to enable people to achieve that thrilling and exciting experience. These are the illustrative examples of this industry:
Music
It comprises of production as well as the performance of music as well as related media, including music and videos.
Sports
This includes spectator sports as well as related media.
Media
The media industry refers to conveying information as well as enjoyment. It comprises of music, film, music, television as well as social media. Keep in mind that not all media entertains some communication.
Film
This motion picture industry is in charge of the production and distribution of the film as well as animation.
Attractions
These include theme parks, zoos as well as water parks
Performance art
This comprises of concerts, comedy, concerts, theatre as well as magic shows.
Video games
This is mainly the development as well as the marketing of video games, among other digital experiences.

How large is the home entertainment industry?

It is worth mentioning that the global worth of the home gaiety industry market size is valued at USD $225 billion. According to research, we anticipate that this number will rise by 6.3% come 2025. Keep in mind that this industry is such a large industry that has many activities surrounding it. Entertainment is one of the markets that boost the world’s economy.

How many people are in the entertainment industry?

Worldwide, according to the federal labor department, there are more than 2.5 million people in the entertainment industry. This research 2018 research and we anticipate that by 2025, there will be more than 10 million people. Keep in mind that in the recent past, due to lack of white-collar jobs, so many people, especially the young generation, are into following their passion in the amusement industry.

How big is the entertainment industry?

In the United States, the E &M industry is valued at $703 billion. It mainly comprises of all the businesses that produce as well as distribute television programs, audio recordings, video games, motion pictures, streaming content, broadcast, and book publishing radio, supplementary as well as products. Did you know that the US, pastime, and media market is 33% of the world’s E &M industry? We anticipate that come 2021, this value will reach up to $804 billion. The E & M Outlook conducted this research. In the US, we classify the entertainment and media industry under four verticals, namely: video games, film, book publishing, and music.
Let us look into the four verticals into detail:

Film

Film
In the US, filmed entertainment industry comprises of movies theatres, streaming content, TV subscriptions as well as the distribution of the filmed enjoyment. Did you know that in 2017 the Box Office sales hit $11 billion as the home video hit $107.9 billion? It is crucial to mention that the United States has the most mature TV market estimated at $100.8 billion. We also anticipate that this would go up even further come the year 2025.

Prominent motion picture studios are part of the more massive media corporation, which comprises of video, television, newspaper, music services, magazine segment, and music services. US film this industry enjoys a trade surplus every year. According to research, this industry contributes 5% of the total surplus of the country. In other words, we can attest that the refreshment industry plays a significant role in driving the US economy.

Video Games


The gaming industry in the United States contributes a good amount of income worth $36 billion in revenues in the E &M industry. In the recent past, many people from across the world access to different games through different devices. These devices include PCs, physical consoles, smartphones, tablets, and digital consoles, to mention but a few. We classify video games under online games, physical, online games, digital, mobile apps, augmented reality, as well as virtual reality. This sector also includes electronic sports popularly known as eSport that is growing quite a lot. In the US, the current income generated by the eSport is about $275 million.

As technology advances, there are a lot of innovations as well as applications in the market. According to anticipations, home, portable, and mobile sets will increase sales by up to 90% in 2020.

Music

This comprises of the concerts and music touring. Since 2016, the US has recorded good growth in the music industry. Currently, it is worth about $25 billion. Did you know that the music industry is the largest market globally?
There are a lot of changes and advancements in the music industry due to digital technology. Today, there is high quality, digital distribution, and low-cost recording technologies, among others in this industry, all thanks to digital technology.

Book Publishing

Book publishing comprises of digital and physical books. Keep in mind that many people prefer referring to physical books as quite a number refer to digital books. The US book publishing industry is the largest market across the world, with a value of $37 billion. Its world market is valued at $116 billion as viewed across consumer, educational, and professional publishing segments. According to research, consumer books cover the largest share in the market. Today, through digital advancement, many people have found good experiences in reading digitally.

Conclusion

We can attest that the Entertainment industry is large and diverse. In the recent past, this industry is under pressure to look into emerging technologies and innovate to trigger further development. E&M industry is valued at $703 billion, and consumer trends are showing rapid growth. We can also say that this is the industry to watch in the next 3 years in terms of big things.

 

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