Global Media Market Size 2024, Forecast To 2033

11 Mar, 2024

The media market has exhibited robust growth, climbing from $2388.12 billion in 2023 to $2578.67 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.0%. The growth in the historic period is attributed to increased literacy, strong economic growth in emerging markets, growing consumer spending on household entertainment activities, increased internet penetration, and the rise of virtual reality (VR). Looking ahead to 2028, the market is poised for continued expansion, reaching $3511.64 billion at a CAGR of 8.0%. Growth drivers in the forecast period include increasing world population, advancements in technology, media, and entertainment mergers, and a rise in mobile video viewing. Major trends involve creative networks, digital innovation hubs, government innovative launches, strategic partnerships, big data driving growth, motion capture technology for reduced production costs, stereoscopic 3D (S3D) for an enhanced viewing experience, digitization of newspapers and magazines, and the growth of audio books.

Global Media Market Key Driver

Virtual reality (VR) is gaining traction within the TV and radio broadcasting industry, creating a substantial impact on audience engagement. Live events, such as sports and music, are anticipated to drive the demand for VR adoption in the foreseeable future, offering audiences dynamic experiences connected to major events. Notably, NextVR, a virtual reality platform, streamed events like the Daytona 500 and a democratic debate, establishing partnerships, such as the one with Live Nation, to bring live music to a global audience. The increasing appetite for VR content is set to propel the market forward, influencing its size significantly in 2023, 2024, and 2028.

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Global Media Market Segments

The media market covered in this report is segmented –
1) By Type: TV And Radio Broadcasting, Film And Music, Information Services, Web Content, Search Portals And Social Media, Print Media
2) By Revenue model: Subscription, Advertisement, Sponsorship, Others
3) By Application: Wired, Wireless Sub segments: Radio Broadcasting, Television Broadcasting, Music Recording, Film And Video, News Syndicates, Libraries And Archives, Other Information Services, Social Media, Internet Search Portals, Digital Publishing And Content Streaming, Search Engine Optimization Services, Directory, Mailing List And Other Publishers, Book Publishers, Newspaper And Magazine Publishers
By Geography:The regions covered in the media market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa North America was the largest region in the media market in 2023. Africa is expected to be the fastest growing region in the forecast period. The regions covered in the media market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

Major Media Industry Players

Alphabet Inc., Facebook, Inc., Comcast Corporation, The Walt Disney Company, Netflix, Inc., Sony Group Corporation, Charter Communications Inc, Bertelsmann SE & Co. KGaA, Baidu, Inc., Viacom, Zeeya Digital, Zee Entertainment enterprises limited, SUN Tv Network limited, Shanghai media & entertainment limited (SMEG), D B Corp ltd, Eros international PLC, Go Nuts, Spider AF, Beautiful Nare, Qureka, Tencent, NetEase, Eloquence international, lion &lion, Arena media, Dwa, Initiative, IPG media brands, Focus media, Media Reach Advertising, Media Alive, Hotspex Media, Red Apple Advertising, the PR Office, the7stars, Orchard Media & Events Group Ltd, Scorch, Mostly Media, Media frontier, Mando, Loop, Responsive spaces, Karakas graphic communication, Scholz & Volkma, Disko, Code design, Javelin Group, I Tech art group, Itexus, Armada labs, Group BWT, Geomotiv, Selleo, Code riders, Codete, Devox software, Polcode, Attract group, Donatix, Mayple, Fox Corporation, Vox Media, G/O Media Web FX, Smart Sites, Ignite visibility, Uplers, WebiMax, Zgraya digital, Page traffic Inc, Black tag, Luma, Festival advisor and Dive, Time Warner Inc, Thomson Reuters corporation, liberty interative corporation, CBS corporation, Discovery Communication Inc, Scripps networks interactive Inc, Omnicom Group Inc and Gannett co. Inc, Simple, Calypso, AseguraloHoy.com, Story Max, Ingenia agency, Zetenta, Creatives RD, Globant, EW digital marketing, In pulse digital, Axented, MBC Group, Qanawat, Real-time sportscast, Arab media group, Augustus, Arena events limited, flash entertainment, ABQ Zawya, Integral, Abu Dhabi media, Media 24, EbonyLife Media, Naspers, Osun State Broadcasting Corporation, South African Broadcasting Corporation, Eye witness news, Star Sat, PriMedia, Open view, M-Net

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Media Market Overview

Media is the means or communication tool through which information, educational, entertainment, data, or promotional messages are disseminated.

Media Global Market Report 2023 provides data on the global media market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The media market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.