2022-06-28-普华永道-2022至2026年全球娱乐及媒体行业展望（英文）_普华永道_28页_1mb

Summary of Global Entertainment & Media Outlook 2022-2026

Core Content

The Global Entertainment & Media Outlook 2022-2026 highlights the transformation of the entertainment and media (E&M) industry in a post-pandemic world. The report identifies key fault lines and fractures that are reshaping the sector, driven by changes in consumer behavior, digital adoption, and business strategies.

Main Viewpoints

• Industry Growth: The global E&M industry is expected to grow significantly, reaching US$3tn in revenue by 2026, with a CAGR of 7.3% from 2022 to 2026.
• Digital Shift: The industry is becoming more digital, mobile, and immersive, with a growing share of revenue coming from digital advertising and online platforms.
• Consumer Behavior: Younger consumers are increasingly spending time and money on streaming and gaming, and are shaping the future of the industry through their preferences and interactions.
• Advertising Dominance: Advertising is becoming the largest sector of E&M spending by 2026, expected to account for 35.1% of total revenue, driven largely by digital channels.
• Regional Disparities: There are significant geographic and income-based disparities, with North America leading in E&M spending per capita, while Asia-Pacific and Middle East & Africa lag behind.
• Fracturing of Attention: The market is seeing a fragmentation of consumer attention, with new platforms like TikTok and Roblox capturing large shares of time and engagement, especially among younger demographics.
• Privacy Concerns: The "cookieless" world is creating challenges for advertisers, as platforms like Apple and Google are phasing out tracking technologies, pushing the industry to rely more on first-party data and new ad technologies.
• M&A Activity: The industry has seen a surge in mergers and acquisitions (M&A), with large deals such as Microsoft's $68.7bn acquisition of Activision Blizzard and AT&T's $85bn purchase of Time Warner highlighting the strategic moves of major players.
• Consolidation in Emerging Markets: In India, there has been notable consolidation among cinema operators and regional media channels, indicating a shift towards local content and market expansion.
• Gaming Growth: Gaming is experiencing rapid growth, expected to reach US$321.1bn by 2026, with social and casual gaming leading the charge. The sector is also a key driver for the metaverse and next-gen digital advertising.
• Streaming Competition: Streaming services are becoming more competitive, with Netflix and Disney+ facing challenges in maintaining subscriber growth. The OTT market is expected to grow at a 7.6% CAGR, but the sustainability of growth is in question due to limited subscription potential.
• Shoppable Advertising: The integration of advertising and e-commerce is increasing, with shoppable ad units allowing consumers to make purchases directly from media content. Platforms like TikTok, YouTube, and Meta are leading this trend.

Key Information

• 2021 Recovery: The E&M industry bounced back from a -2.3% decline in 2020, growing by 10.4% in 2021.
• Advertising Trends:
  • Digital advertising is expected to surpass non-digital advertising by 2022, with mobile video ads projected to reach US$138.9bn by 2026.
  • Global advertising revenue is forecast to reach US$1tn by 2026, with 74% of revenue coming from mobile platforms.
• Market Segments:
  • Video games revenue is set to grow at 8.4% CAGR, reaching US$321.1bn by 2026.
  • Traditional TV revenue is expected to decline at -0.8% CAGR, from US$231bn in 2021 to US$222.1bn in 2026.
  • Cinemas will not recover their 2019 revenue level until 2023, with India leading the recovery.
• Emerging Markets:
  • Turkey is the fastest-growing E&M market with a 14.2% CAGR.
  • India, Pakistan, and Bangladesh are among the fastest-growing gaming markets.
• New Platforms:
  • TikTok has become a major music discovery and advertising platform, influencing Billboard charts and advertising trends.
  • Roblox and Fortnite are becoming immersive virtual spaces for youth engagement.
• M&A Trends:
  • The volume of E&M deals has increased dramatically, with US$142bn in 2021 compared to US$17bn in 2020.
  • Major players like Microsoft, Sony, and AT&T are making strategic acquisitions to expand their reach and capabilities.
• Regulatory Impact:
  • Apple's ATT framework and Google's Privacy Sandbox are reshaping the advertising landscape, forcing companies to adapt to new data and targeting strategies.

Conclusion

The report underscores the evolving nature of the E&M industry, marked by digital transformation, changing consumer behaviors, and intensifying competition. As the industry moves forward, advertising is becoming a central pillar, and gaming and streaming are leading the growth trajectory. The future of E&M is increasingly localized, immersive, and data-driven, with new platforms and regulatory challenges playing a pivotal role in shaping the next decade of growth.