The Business Research Company’s Media Global Market Report 2020-30: COVID-19 Impact and Recovery
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The newspaper industry is currently experiencing significant transformations with the advent of new technologies. The new technologies are providing a multitude of new platforms to disseminate news content in exciting and innovative ways, increasing the digital media market size. Publishers of newspapers and news media have changed their distribution approaches by introducing digital offers and services which can cater to the needs of the consumers.
The media and entertainment industry consists 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 global media market is expected to decline from $1790.1 billion in 2019 to $1765.6 billion in 2020 at a compound annual growth rate (CAGR) of -1.4%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $2264.7 billion in 2023.
North America has the largest media market share, accounting for 33% of the market in 2019. Asia Pacific was the second largest region accounting for 29% of the global media market.
Under The Business Research Company’s media market analysis, the market is segmented by type into TV and radio broadcasting, film and music, information services, web content, search portals and social media, print media, cable and other subscription programming. Subsegments covered are radio broadcasting, television broadcasting, music recording, film and video, news syndicates, libraries and archives, all other information services, social media market research, internet search portals, digital publishing and content streaming, search engine optimization services, directory, mailing list, and other publishers, book publishers, newspaper & magazines publishers.
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