One of the most significant sectors of the modern age, the global media sector allows the creation, distribution, and consumption of media content worldwide. It includes traditional media platforms like film, television, radio, and print, as well as digital media platforms such as video streaming services, and social media outlets. The industry plays a critical role in cultural exchange, entertainment, and information dissemination on a global scale.
The industry has undergone a significant digital transformation with the rise of various digital media channels such as streaming services, online chat services, and photo/video sharing applications. Virtual reality and augmented reality are among the most popular trends in the media industry nowadays. Businesses and industries are continuously incorporating VR and AR to improve efficiency, productivity, and safety in various sectors, including engineering, healthcare, architecture, etc.
The value of the global media and entertainment market reached about $2.32 trillion in 2022 and grew by 5.4% compared to 2021. The highest compound annual growth rate is expected to be seen in the data/content consumption sector followed by virtual reality. Print media including newspapers and magazines will see a decline in demand by 2% annually.
Live streaming and user-generated content continue to be in demand, particularly on social media platforms. Short-form videos, live broadcasts, and interactive content was widely consumed across different social media platforms. Streaming services continue to dominate the media market with a wide selection of local and global content. The revenue of one of the most used streaming services in the world, Netflix rose from 1.36 billion to over 26 billion in just 13 years.
Countries known for their strong and well-established media industries include the U.S., South Korea, Japan, France, India, the U.K., Germany, Spain, Canada, and Brazil. The media industry is highly competitive nowadays with numerous players trying to win the global audiences’ attention.
The global media sector is significant for everyone because it allows us to be connected with the world all the time. It is a diverse and widespread sector that grows each year due to new technologies and services. Here are the most important trade events in this sector that you can attend:
Mipcom Cannes: One of the world’s greatest gatherings of TV and entertainment executives, Mipcom Cannes is held every October at Palais des Festivals, Cannes, France. It is a crucial exhibition where the world’s most renowned media tycoons and decision-makers come together. It provides ample opportunities for networking with the global media industry and learning the latest tricks of the trade.
Film Expo Tokyo: An advanced and high-tech film exhibition where the latest advancements in film technology are introduced. The global event attracts filmmakers, producers, actors, audio and video experts from all over the world. Japanese cinema remains to be the special focus of the event that attracts the entire cinema industry.
Studio Ghibli Tokyo: A creative animation film industry exhibition held in Tokyo. The event is particularly important for all animation enthusiasts and creatives from all over the world. It is an advanced and cutting-edge platform to discover the latest animation film trends and innovations.
Disney D23: A mesmerizing exhibition hosted by the world’s most popular media giant, Disney. It is a biennial convention that celebrates all things Disney from iconic characters to memorable music. The event is the perfect opportunity for Disney fans to go back in time and relive their childhood memories. At the event, Disney makes major announcements and presentations about upcoming projects, new attractions at Disney parks, and an exclusive sneak peek into highly anticipated Disney films and TV shows.
The global media industry is a vast and diverse sector with a wide range of sub-sectors that cater to different forms of content creation, distribution, and consumption. Some of the key media sectors include TV and broadcasting, film and cinema, music, print media, digital media, gaming, radio broadcasting, public relations, and information & communication technologies, etc. These sectors together play a vital role in the creation, distribution, and consumption of media content.