Media Analysis
Media Analysis
ANALYSIS
S R I N I VA S K
ANALYSIS
The Media & Entertainment Market size is expected to grow from USD
27.72 billion in 2023 to USD 40.36 billion by 2028, at a CAGR of
7.80% during the forecast period (2023-2028). The rapid evolution of
technology has transformed the media and entertainment industry,
along with the integration of new disruptors for generating profitable
growth across the sector.
• With consumers across all age groups streaming more content than ever,
there is an ongoing dynamic shift from traditional pay TV to subscription-
based paid streaming video services, along with the growth in the number
of smartphone & tablet devices.
• The media and entertainment landscape is ever-shifting and evolving to become more
personalized, more interactive, and more user-created. Much of that evolution is being
driven by the needs and desires of Generation Z—or those born between 1997 and
2012—the oldest of which turns 26 this year.
• Many members of this digitally savvy cohort were raised in technology-filled homes and
had early and regular access to smartphones and tablets, on-demand digital content, and
gamified learning and entertainment experiences. In turn, using digital technology comes
quite naturally to Gen Zs, and they often gravitate toward more social and immersive
media.
• Media and entertainment companies and brands should consider paying attention to this
budding Gen Z cohort as they mature into adulthood and gain purchasing power.
Currently, Gen Zs make up approximately 20% of the US population—and they are
more racially and ethnically diverse, and on track to be more educated, than any
generation before them.
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