LONDON, Sept. 23, 2014 /PRNewswire/ -- Digital innovation has become media and entertainment (M&E) industry's new license to operate across the world, global expansion of access to the internet and explosive growth in smart devices is driving the growth of the industry. While traditional, non-digital media will continue to dominate overall M&E spending globally throughout the next five years, the growth will be in digital.
Consumers around the world continue to spend on media and entertainment from acquiring broadband access, to reading online books, magazine, newspapers, subscribing to television licenses, buying music and playing video games.
The global media & entertainment (M&E) industry expenditure was estimated at USD 1.62 trillion in 2013, rising by 6.1 percent from 2012 levels. The global M&E market is highly fragmented, with Asia Pacific and North America dominating the industry. Latin America, Central and Eastern Europe and the Middle East are anticipated to develop rapidly.
Rising internet access expenditure and mobile network growth is driving digital advertising spending. Video games are projected to be the fastest growing segment, with rising internet spending and broadband penetration levels. Smartphones and tablets, with user-friendly touch-screen interface, are becoming the preferred device for gamers.
The media and entertainment expenditure in 2013 in North America is estimated at USD 439.22 billion. With improved economic conditions, the industry is expected to increase at a CAGR of 4 percent from 2014-2018 to reach USD 533 billion in 2018.
The media and entertainment expenditure in 2013 in Europe, Middle East and Africa (EMEA)is estimated at USD 481.2 billion. With improved economic conditions, the industry is expected to increase at a CAGR of 3.6 percent from 2014-2018 to reach USD 598.87 billion in 2018. In 2013, the contribution of Western Europe, Central and Eastern Europe, Middle East and Africa in EMEA is estimated at USD 386.4 billion, USD 53.16 billion and USD 41.5 billion respectively.
In the Asia-Pacific region, Japan at an estimated USD 205 billion in 2013 is the dominant country, accounting for 42 percent of total spending in Asia-Pacific and the second-largest country in the world, behind the United States. The media and entertainment expenditure in 2013 is estimated at USD 518.65 billion.
Download the full report: https://www.reportbuyer.com/product/2377851/
About Reporbuyer
Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers
http://www.reportbuyer.com
For more information:
Sarah Smith
Research Advisor at Reportbuyer.com
Email: query@reportbuyer.com
Tel: +44 208 816 85 48
Website: www.reportbuyer.com
SOURCE ReportBuyer
