In late August, international consulting company PwC released an Entertainment and Media industry outlook for 2019-2023.
This is a must-read for anyone who works in marketing and digital: you will find out how online traffic is divided in Russia and around the globe, which advertising tools are in high demand from brands, and how streaming platforms will develop in the future. You can find the full report here, and if you don't want to read the full 88 pages, we have prepared a summary of the most interesting facts for you here in Lectera Magazine.
In 2018, the entire entertainment and media industry was valued at $2.1 trillion. Experts predict continued growth until 2023, with an average annual increase of 4.3%. At this rate, the industry will have a valuation of $2.6 trillion by 2023. The following trends will be relevant in the industry:
- products and services will be further digitized and personalized;
- smartphones will be increasingly used for Internet access (today, 76% of all traffic comes from mobile devices);
- major digital ecosystems will emerge, partnering with traditional businesses (telecom, banking, etc);
- new technologies will be increasingly integrated (5G, Internet of Things, Big Data analysis).
The following segments will experience above-average growth, according to analysts: