The entertainment insurance market size has grown rapidly in recent years, increasing from $3.50 billion in 2023 to $3.88 billion in 2024 at a compound annual growth rate (CAGR) of 11.0%. This historic growth is attributed to heightened film and television production, a surge in live events and concerts, regulatory changes and compliance requirements, increased awareness of risk management, and natural disasters affecting events. The market is expected to continue its rapid expansion, reaching $5.93 billion by 2028 at a CAGR of 11.2%. This future growth is driven by the rise of streaming services, ongoing uncertainties related to the pandemic, globalization of entertainment content, an increased focus on cybersecurity in media, and greater emphasis on sustainability in productions. Key trends for the forecast period include the adoption of blockchain for rights management, increased use of AI in risk assessment, a greater focus on diversity and inclusion in insurance policies, rising demand for cyber liability insurance, and the integration of telematics for live event safety.
Global Entertainment Insurance Market Key Driver
The expansion of the entertainment insurance market is linked to the growing entertainment industry, which includes film, television, music, theater, and live events. This growth is fueled by technological advancements, increased consumer demand, and expanding digital platforms. Entertainment insurance helps manage financial risks and supports the stability of productions and events. For example, the Bureau of Economic Analysis reported that performing arts increased by 39.2% in 2022 from a 12.4% rise in 2021, museums by 6.9%, design services by 8.5% from a 13.6% rise in 2021, fine arts education by 24.0% from a 21.4% rise in 2021, and education services by 7.3%. This growth in the entertainment industry is driving the expansion of the entertainment insurance market.
Get A Free Sample Of The Entertainment Insurance Market Report
Global Entertainment Insurance Market Segments
The entertainment insurance market covered in this report is segmented –
1) By Product: Personal Insurance, Property Insurance
2) By Coverage:General Liability, Errors And Omissions, Workers Compensation, Equipment Insurance
3) By Distribution : Brokers , Non-Brokers
4) By Application: Entertainment Industry, Media Industry, Sports Industry, Live Events Industry
5) By End-User: Business, Individuals
By Geography:The regions covered in the entertainment insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the entertainment insurance market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Entertainment Insurance Industry Players
Allianz, AXA XL, Chubb, The Hartford, Marsh LLC (Marsh & McLennan Companies Inc.), Everest Group Ltd., Gallagher, HUB International, Tokio Marine HCC, Hiscox, Insurance Canopy, Ryan Specialty, Next Insurance Inc., Higginbotham, OneBeacon Insurance Group, Coaction Specialty Insurance Group Inc., Zensurance, Front Row Insurance Brokers Inc., Allen Financial Insurance Group Inc., MFE Insurance Broker, Integro Insurance Brokers Limited, Reel Media LLC
Purchase The Global Entertainment Insurance Market Report Directly And Get A Swift Delivery
Entertainment Insurance Market Overview
Entertainment insurance is a liability insurance policy package designed to protect the risks of businesses within the entertainment industry. Businesses and professional entertainers can be financially covered against incidents of injury or damage to a third party or their property and accusations of professional neglect.
Entertainment Insurance Global Market Report 2023 provides data on the global entertainment insurance market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The entertainment insurance market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
