Global entertainment, media revenue to exceed $3T

Global entertainment, media revenue to exceed $3T
Annual growth near 4% expected to fuel revenue boost by 2028.
JUL 16, 2024
By  Bloomberg

Driven by growth in online advertising and live events, global entertainment and media revenue is expected to grow 3.9% annually on average over the next five years, jumping from $2.8 trillion in 2023 to $3.4 trillion in 2028, according to a new report from PricewaterhouseCoopers LLP. 

Ad sales will hit $1 trillion in 2026, it said, and will account for more than half of the industry’s total revenue growth over the next five years.    

Live entertainment, including sports and concerts, are also gaining momentum, according to PwC. Coming out of the pandemic slowdown, global tours of pop stars, from Taylor Swift to Coldplay, and the opening of the Sphere in Las Vegas boosted live music sales by 26% in 2023. 

Gaming will remain one of the fastest growing sectors and is projected to top $300 billion in 2028.

Global cinema revenue is on track to recover from the Covid downturn and in 2026 will surpass the pre-pandemic levels of 2019, according to the report. 

Meanwhile, amid increased competition for subscribers, companies in the streaming industry will lean more heavily on advertising, PwC said. By 2028, ad-based subscriptions will account for about 28% of total streaming revenue. 

Latest News

SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees
SEC charges Chicago-based investment adviser with overbilling clients more than $2.5M in fees

Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.

Apella Wealth comes to Washington with Independence Wealth Advisors
Apella Wealth comes to Washington with Independence Wealth Advisors

The Harford, Connecticut-based RIA is expanding into a new market in the mid-Atlantic region while crossing another billion-dollar milestone.

Citi's Sieg sees rich clients pivoting from US to UK
Citi's Sieg sees rich clients pivoting from US to UK

The Wall Street giant's global wealth head says affluent clients are shifting away from America amid growing fallout from President Donald Trump's hardline politics.

US employment report reactions: Overall better than expected, but concerns with underlying data
US employment report reactions: Overall better than expected, but concerns with underlying data

Chief economists, advisors, and chief investment officers share their reactions to the June US employment report.

Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading
Creative Planning's Peter Mallouk slams 'offensive' congressional stock trading

"This shouldn’t be hard to ban, but neither party will do it. So offensive to the people they serve," RIA titan Peter Mallouk said in a post that referenced Nancy Pelosi's reported stock gains.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.