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.
The group led by a 37-year industry veteran brings $470 million in assets to the Philadelphia-based broker dealer.
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The latest departures in Ohio mark another setback for the hybrid RIA, which is looking to "expanding its presence across all models and segments of the wealth management industry.”
The St. Louis-based real estate investment firm gives the asset management giant a valuable access point to the roughly $1 trillion net lease market.
Eliseo Prisno, a former Merrill advisor, allegedly collected unapproved fees from Filipino clients by secretly accessing their accounts at two separate brokerages.
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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.
