Major companies in the media market include Google; Walt Disney; Time Warner Inc. ; Facebook and Comcast Corporation. The global media market is expected to grow from $1712. 96 billion in 2020 to $1850.
New York, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Media Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018858/?utm_source=GNW
04 billion in 2021 at a compound annual growth rate (CAGR) of 8%. 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 $2670.66 billion in 2025 at a CAGR of 10%.
The media market consists of sales of television and radio programs, motion pictures, digital content, and commercials along with video and audio recordings, games and publications by entities (organizations, sole traders and partnerships) that produce and distribute television and radio programs, motion pictures, and commercials along with video and audio recordings, games and publications. Examples of revenues are license fees, subscription and payments for advertising. The media market is segmented into TV and radio broadcasting; film and music; information services; web content, search portals and social media; print media and cable and other subscription programming.
North America was the largest region in the global media market, accounting for 33% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global media market. Africa was the smallest region in the global media market.
Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost effective, light weight and reduce risks associated with cranes and cable cams during film making. Autonomous drones are flying gadgets equipped with multiple rotors, built-in high-resolution camera and algorithms for capturing videos and pictures. It offers 360-degree experiential recording experience with minimum human intervention. They are used to capture aerial shots, taking footages and images without having a cameraman on an actual helicopter. For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu and EHANG.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the media markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally. COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China and spread globally including Western Europe, North America and Asia. Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’. The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the media market will recover from the shock across the forecast period as it is a ’black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create potential impact on audiences. Live events such as sports and music is expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment. For example, NextVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate. It also partnered with an events company Live Nation to broadcast live music to music fans worldwide. Rise in demand for VR content is expected to drive the market going forward.
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