Entertainment Industry: A Global Outlook
San Jose, California (PRWEB) September 16, 2008
Entertainment is an industry characterized by rapid changes, owing to the industry's overt dependence on technology. Globalization has allowed the industry to break geographical barriers and reach out to a global customer base. The industry, encompassing films, recorded music, newspapers/magazine publishing, cable broadcasting, and theme/ amusement parks, is anticipated to offer promising growth opportunities, driven by the rapid adoption of digital technologies, and changing consumer preferences. Internet is the fastest growing entertainment media, with maximum gains expected from markets such as the US, Europe and Asia-Pacific. Digital distribution of various forms of entertainment such as music and video is spurring growth in the global entertainment market. Home entertainment is expanding rapidly, propelled by declining hardware prices coupled with rising costs of traditional entertainment such as movies.
The worldwide market for filmed entertainment is anticipated to generate higher revenues, due to rapid expansion of DVD home videos, and faster shift of consumers from VHS to DVD formats. With time gap from theatrical-to-video release shortening, the home video sector is expected to emerge as the principal beneficiary. The widespread popularity of US-based films in non-US regions is critical for the expansion of the market. Introduction of digital projection, new screens, multiplexes, and refurbished cinemas, aimed at improving distribution, is anticipated to strengthen film entertainment business, particularly in Latin America, EMEA and Asia-Pacific. However, piracy is a major threat to the industry, with significant impact in Asia-Pacific and Latin American regions.
Growth in the global music recording industry is driven by increased spending on single sound recordings and albums, both on standard and latest formats such as cassettes, compact discs, and music videos/DVDs. Expansion of licensed digital distribution, consumer shift from cheaper cassettes to CDs in regions such as Eastern Europe and Middle East and Africa, and declining prices in Western Europe are anticipated to stimulate growth in the recorded music market. Music industry is also benefiting from the growing use of mobile telephones globally.
Video games market follows a cyclical trend wherein, high sales are recorded when new consoles are launched followed by a period of slump, when software sales sustain the market. High priced video game prices are principal growth boosters for the industry. Online gaming is considered as the future of gaming industry, which is presently hindered by lack of high-speed broadband connections, as well as competition from PC-based games. Competitively price games, growing user base, popularity of online gaming, and intense advertising and promotional campaigns are expected to augment sales in the sector.
The report titled "Entertainment Industry: A Global Outlook" provides a collection of statistical anecdotes, market briefs, and concise summaries of research findings. An easy guide to What, Why, When, How, Where, and Who of an industry, the global outlook series offers the reader a bird's eye view of the global Entertainment industry. Annotated with 167 information-rich tables presenting market data findings, and analytical research projections, the entire discussion allows the reader to build a macro-level perception of the industry in its totality. Global market discussion offers insights into selective segmental trends. The report underlines the waxing popularity of multiplexes, the growing menace of piracy, the wide-ranging impact of internet and the digital technology, and provides selective previews on market sectors, such as, motion pictures, digital television, cable and broadcast, recorded music market, video games market, and the role of broadband entertainment, amusement/theme parks market, and print publishing (Magazine, Newspaper, Consumer Book, and Professional and Educational Books). Also included is an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 700 companies worldwide.
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