Blockchain in Media, Advertising, and Entertainment Market size was valued at USD 1.34 billion in 2023 and is projected to exceed USD 1.62 trillion by 2036, expanding at over 72.7% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of blockchain in media, advertising, and entertainment is evaluated at USD 2.12 billion. The growth of the market can be attributed to the growing demand to eliminate intermediaries between end-users and content creators, rising number of incidences of data piracy in the media industry, and increasing adoption of blockchain technology in the advertising vertical across the world. Along with these, escalating demand for faster and safer transactions globally is also considered to be a crucial factor expected to drive market growth in the upcoming years. Furthermore, the rise in penetration of internet coupled with the boom in the usage of AI-enabled smartphones are projected to offer profitable opportunities for the growth of the market in the near future. As of January 2021, more than 4.5 billion people used internet worldwide, i.e., almost 60 percent of the total world population. Amongst these, almost 4.3 billion people accessed the internet by mobile devices.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
72.7% |
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Base Year Market Size (2023) |
USD 1.34 billion |
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Forecast Year Market Size (2036) |
USD 1.62 trillion |
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Regional Scope |
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The market is segmented by application into licensing & rights management, digital advertising, smart contracts, content security, online gaming, and payments, out of which, the payments segment is anticipated to hold the largest share in the global blockchain in media, advertising, and entertainment market on account of the fact that blockchain technology provides real-time payments against assets with an immutable digital identity. In addition, this technology also helps in automating processing activities and significantly reducing administrative costs, which are also predicted to boost the growth of the market segment in the future. Moreover, on the basis of enterprises, the segment for small and medium-sized enterprises is assessed to observe the highest CAGR over the forecast period owing to the high demand for integrating blockchain technology-based solutions in media, advertising and entertainment industry.
Our in-depth analysis of the global blockchain in media, advertising, and entertainment market includes the following segments:
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By Blockchain Type |
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By Enterprise Size |
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By Application
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On the basis of geographical analysis, the global blockchain in media, advertising, and entertainment market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is estimated to hold largest revenue share by 2036, on the back of increasing penetration of internet, rising technological advancements in blockchain technology and escalating adoption of AI in the region. In 2017, almost 44 percent of people in the Asia and Pacific region had access to the internet, which increased up to more than 48 percent in just two years.
Additionally, the market in the North America is projected to grab the largest share during the forecast period, which can be credited to the growing investments in the blockchain in media, advertising, and entertainment market, early adoption of advanced technologies and rising number of digitization initiatives in the region.
· March 2021- Microsoft launched decentralized identity platform named ION on Bitcoin’s blockchain. The project is open source and is designed for individuals who are willing to run their own node.
Author Credits: Abhishek Verma
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