The motion picture industry market size has shown significant growth in recent years, projected to increase from $47.58 billion in 2023 to $51.7 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.6%. This growth during the historic period can be attributed to technological advancements in film production, the expansion of cable and satellite TV, the growth of home entertainment systems, the rise of blockbuster franchises, and an increasing global demand for diverse content. Looking ahead, the motion picture industry market size is anticipated to continue its strong growth, reaching $72.38 billion in 2028 at a CAGR of 8.8%. This future growth can be linked to the emergence of streaming platforms, advancements in artificial intelligence (AI) and virtual reality (VR) for film production, growth in international markets, increasing consumer demand for original content, and the expansion of high-definition and 4K technologies. Key trends expected during this forecast period include consolidation among major studios, demand for subscription-based streaming services, investment in original content production, and ongoing technological innovations in film experiences, alongside continued global market expansion.
Major Driver In The Motion Picture Industry Market
The expansion of the entertainment industry is expected to significantly drive growth in the motion picture industry market. The entertainment sector includes a wide array of businesses and activities that provide performances, shows, media, and events to engage and entertain audiences through various forms, such as film, television, music, theater, and digital media. This industry's growth is fueled by rising consumer demand for diverse, on-demand content across multiple platforms, driven by technological advancements and global connectivity. Motion pictures are a crucial component of the entertainment industry, delivering dynamic and immersive storytelling that captivates audiences through visual and auditory experiences. For instance, in February 2024, the British Film Institute reported that total expenditure on film and high-end television production (HETV) in the UK reached $4.58 billion (£4.23 billion) in 2023, with domestic productions contributing $829 million (£766 million), accounting for 27% of the total HETV spend, which reflects a 21% increase from 2022. Co-production spending also rose to $42.14 million (£38.9 million), representing 1.4% of the overall expenditure and marking a 7% increase compared to the previous year. Hence, the growth of the entertainment industry is significantly influencing the motion picture industry market, with projections of $45 billion in 2023, $50 billion in 2024, and $70 billion by 2028.
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Motion Picture Industry Market Competitive Landscape
Major companies operating in the motion picture industry market are Sony Pictures Entertainment Inc., The Walt Disney Company, Warner Bros. Entertainment Inc., Paramount Pictures Corporation, Metro-Goldwyn-Mayer Studios Inc., Lions Gate Entertainment Corp., Apple Inc. , Universal City Studios LLC, DreamWorks Pictures LLC, TriStar Pictures Inc., Lucasfilm Ltd. LLC, Pixar Animation Studios, Marvel Studios LLC, Miramax LLC , Legendary Pictures Productions LLC, 20th Century Studios Inc., New Line Productions Inc. , Blue Sky Studios Inc., A24 Films LLC, Blumhouse Productions LLC, United Artists Corporation, Focus Features LLC, Illumination Entertainment LLC, Fox Searchlight Pictures Inc., Studio Ghibli Inc.
Key Motion Picture Industry Market Trend
Major companies in the motion picture industry are developing technologically advanced products, such as AI-driven video editing tools, to streamline workflows, enhance creativity, and lower production costs. AI-based video editing tools leverage artificial intelligence algorithms to automate and enhance video editing tasks, including cutting, trimming, color correction, and effect application, thus improving efficiency and creativity in the editing process. For instance, in February 2024, Meta, a U.S.-based technology firm, launched Emu Video and Emu Edit, which are AI-driven features for video editing. Emu Video generates short movie clips from text descriptions, while Emu Edit simplifies the video editing process through AI-driven automation. Users can create videos across various themes—such as travel, food, and fashion—by choosing from diverse templates and customizing their clips with music, text, and filters. These tools, available on Instagram and Facebook, utilize advanced machine learning and deep learning algorithms, allowing the software to continuously learn from extensive data.
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Global Motion Picture Industry Market Segmentation
The motion picture industry market covered in this report is segmented –
1) By Genre: Action, Comedy, Drama, Fantasy, Horror, Romance, Other Genres
2) By Dimension: 3D And Above, 2D
3) By Demographics: Children, Adult
By Geography:The regions covered in the motion picture industry 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 motion picture industry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Motion Picture Industry Global Market Report 2024 furnishes information about the global motion picture industry market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
