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In an era defined by rapid digitalisation and shifting consumer preferences , the global entertainment and media ( E & M ) industry is experiencing unprecedented growth . The latest PwC Global Entertainment & Media Outlook report unveils a compelling narrative of resilience and innovation within the sector . The industry is forecasted to surge to a monumental US $ 2.8tn market by 2027 , underpinned by pivotal factors such as advertising prowess , digital transformation and the rise of emerging technologies .
Werner Ballhaus , Global Entertainment & Media Industry Leader at PwC Germany says : “ We have seen impressive growth in the entertainment and media industry over the past two years following a surge in demand for digital products during COVID-19 .
“ However , macroeconomic challenges , increased industry competition and a reduction in production costs – particularly in digital services and experiences – have reduced revenues and consumers ’ willingness to pay . If companies in the EM industry are to successfully engage consumers and drive growth , they need to transform their service offerings and tap into new and emerging markets and technologies , such as Asia and generative AI .”
The PwC Outlook report paints a vivid picture of an industry undergoing a profound digital transformation . By 2027 , digital revenue is projected to command nearly three-quarters of total industry revenue , marking
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