Taylor Swift, Bad Bunny or Shakira fan? Your hobby and that of billions of people is behind the remarkable dynamism shown by the entertainment and media industry in the world. According to a recent report by the consulting firm PrivewaterhouseCoppers (PwC), the sector showed a 5% growth in 2023, reaching US$2.8 trillion (millions of millions). By 2028 it is estimated to reach US$3.8 trillion.

The main drivers of this growth are advertising revenues, which by 2026 would be close to US$1 trillion, accounting for more than half of the industry's increase over the next five years. By far the most prominent component is internet advertising, which would account for three-quarters of total ad spending by 2028.

The streaming segment streaming will also increase, but with important changes in business models, including the incorporation of cheaper subscriptions, albeit with advertising, live sports broadcasting and a consolidation process.

One of the fastest growing segments is gaming, adding the so-called e-sports, gaming competitions with professional participants and live audiences. Its revenues would reach US$300 billion in 2027, double those recorded in 2019. Half of this market would be centered in Asia-Pacific countries.

Finally, live music concerts live music and the cinema will be key areas in strengthening the industry. Driven by world tours -such as The Eras TourTaylor Swift's The Eras Tour, live music revenues live music grew by 26% in 2023 and accounted for more than half of the music market, while film revenues grew by 26% in 2023. cinema grew by 30.4%; however, it has yet to reach pre-pandemic levels.

You can view the study at PwC Global Entertainment & Media Outlook 2024-28 | PwC