Global Film And Music Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
11 Jun, 2021
The film and music market consists of the revenues from the production and/or distribution of motion pictures, videos, television programs, or commercials, from the exhibition of motion pictures or from the provision of postproduction and related services or of the production and distribution of musical recordings, from publishing music, or from providing sound recording and related services earned by entities (organizations, sole traders and partnerships) that are in the film and music industry. The film and music market is segmented into music recording and film and video.
Global Film And Music Market Size And Drivers:
The global film and music market is expected to grow from $289.13 billion in 2020 to $308.97 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $392.34 billion in 2025 at a CAGR of 6%. The penetration of newer distribution platforms like internet protocol television (IPTV) and Direct-to-home (DTH) and online platforms such as YouTube, Vimeo is driving the growth of the film and music market.
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Trends In The Global Film And Music Market
Film and music production companies are increasingly adopting motion capture technology to reduce costs associated with key frame-based animations. Motion capture is the process of recording a live motion event and translating it into actionable data that allows a 3D recreation of the performance. To achieve these, performers need to wear reflective markers all over their body which are then interpreted by a computer and turned into digital 3D models. Through this technology real time results are achieved faster and it also reduces the cost of key-frame animation. Some recent box-office blockbusters which incorporated motion capture technology include Avengers, Captain America, Beauty and the Beast, Guardians, Iron Man and others.
Global Film And Music Market Segments:
The global film and music market is further segmented based on type and geography.
By Type: Music Recording, Film And Video
Sub-segments covered: Record Production, Music Publishers, Record Distribution, Sound Recording Studios, Film And Video Production, Film And Video Distribution, Post-Production Services, Film And Video Theatres, Other Film And Video Industries
By Geography: The global film and music market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global film and music market, accounting for 39% of the market in 2020.
Read More On The Report For The Global Film And Music Market At:https://www.thebusinessresearchcompany.com/report/film-and-music-global-market-report-2020-30-covid-19-impact-and-recovery
Film And Music Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides film and music market overviews, analyzes and forecasts market size and growth for the global film and music market, film and music market share, film and music market players, film and music market segments and geographies, film and music market’s leading competitors’ revenues, profiles and market shares. The film and music market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.