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Global ads lift entertainment and media as game industry recovers | PwC
PwC said the global entertainment and media (E&M) industry grew in 2023, with total revenues rising 5% in 2023 to $2.8 trillion. And gaming also grew.
Ballhaus added, “If market players are to gain their share of the growing revenue pools we identify, they will have to reimagine how their company creates, delivers, and captures value, leveraging the growth of advertising while also harnessing the powerful opportunity presented by AI. The big three Western global players in the streaming sector—Disney+, Netflix and Amazon Prime Video—all rolled out ad-funded ‘hybrid tier’ offerings, in which consumers agree to view ads in return for paying a lower subscription fee. India will be the world’s fastest-growing OTT video-streaming market over the forecast period, serving its vast, diverse and widely dispersed population—many of whom are obsessed with sports content in general, and cricket in particular: Reliance’s JioCinema app attracted a record 32 million viewers for the 2023 Indian Premier League (IPL) final between Chennai Super Kings and Gujarat Titans.
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