Movies and Entertainment Market Trends

Growth Drivers

• Growing demand for original content to provide growth opportunities – Original content creation and release can be advantageous for stakeholders in the global film and entertainment industries. In recent times, the movies and entertainment market has experienced extreme saturation.
  
  Customers are tired of watching the same old shows and programs because they can now simply obtain movies and television shows. If current trends are to be believed, viewers have demonstrated a preference for more genuine content. For instance, Squid Games, a well–liked Netflix series, is stated to have earned more than USD 900 million within its first year of availability on the streaming service.
• Arrival of 5G technologies to fuel market growth – Media  entertainment are expected to undergo a significant transformation as a result of the arrival of 5G technology. Video, music, and gaming material downloads from the internet will be completed very instantly since it will be 10 times faster than 4G technology. All platforms, including game consoles, smartphones, PCs, and smart TVs, are anticipated to benefit from the technology's improvements in user experience.
  
  With the advent of 5G, applications for augmented and virtual reality are anticipated, as well as a completely new channel for connecting with customers. The 5G–driven innovation that will lead the way is probably gaming. Rapid response times and high–definition, real–time streaming are likely to be further advantages for mobile cloud gaming.
  
  In addition, forecasts predict that mobile data traffic will reach almost 330 exabytes per month by 2028 and more than triple the volume consumed in 2022, which are expected to be accompanied by 5G deployment around the world.
• Rise in disposable income – The development in the economy has a big role in the movies and entertainment market growth. The expansion of the market is expected to be fueled by increased spending on online entertainment as a result of higher per capita disposable income and increased consumer buying power.
  
  It is anticipated that having more disposable income will improve living conditions and make it possible for consumers to purchase high–tech devices like smartphones and smart TVs, which will fuel the growth of the online entertainment industry. Furthermore, in recent years, growing Asian nations like China and India have seen notable increases in disposable income. This has led to a rise in the cost of online entertainment, which propels the expansion of the worldwide movies and entertainment market.

Challenges

• Changing consumer preference to hinder market growth – One of the hardest obstacles for any supplier of goods or services is the worldwide movies and entertainment market. Consumer preferences in this market are always shifting, particularly in the current day as people are increasingly certain of their tastes and the kinds of content they want to consume.
  
  By flatly rejecting content that falls short of their expectations, consumers are regaining power over the entertainment sector. With a very diverse audience to serve, film production companies are finding it difficult to figure out the secret to success.
• The issue of content piracy will limit market growth – The internet's commercialization has led to widespread content piracy, affecting stock photography, music, movies, and video games. Easy access allows anonymous piracy, driven by factors like release dates, regional barriers, and scarcity. Torrent websites further exacerbate losses for entertainment companies, while ISPs' lack of action worsens the issue.