Global media entertainment market to grow at a CAGR of 5%

Having survived the international economic crisis, the global media entertainment market is set to be the focus of industry growth once more.

The market is set to grow at a compound annual growth rate (CAGR) of 5% through to 2017, to reach a total market value of approximately $1,289 billion. Due to this expansion significant industry opportunities look set to be available for key market players.

The global media entertainment industry comprises the creation, aggregation, and distribution of content, news and information, advertising, and entertainment through various media channels and platforms.

Growth within the global media entertainment market is set to be fuelled by a variety of factors including, the increasing levels of disposable income, the improved economy, the rise in online distribution of content and video games, and the growing dominance of Internet-based entertainment.

The internet is set to play a hugely important role within the global media entertainment market as it looks set to account for 10% of overall industry growth over the next five years.

The US currently dominates the global media entertainment market, however, Asia Pacific (APAC), Latin America, and the Middle East are anticipated to develop rapidly over the coming five years, with APAC set to witness the highest growth during this time.