The United States media and entertainment business includes of industries that produce and dispense motion movies, television programs, and advertisements. Additionally, the entertainment industry also offers streaming content, audio recordings, radio, broadcast and supplementary services, David Borshell says.
In fact, the M&E market of US is 33% of the worldwide M&E industry. Furthermore, this industry is foreseen to reach $804 billion by the year 2021. The M&E industry can be segmented into four main verticals which include film, video games, book publishing and music.
Here’s David Borshell gives overview of the different segment of M&E industry
The film entertainment business involves films, picture theaters, TV subscriptions, streaming content and the supply of the filmed entertainment. In the year 2017, the box office auction in the US has reached $11 billion and sale of home video reaches $107.9 billion.
However, Deloitte’s business scrutiny approximations television subscriptions will remain static at $100.8 billion throughout 2018. A lot of prominent movie studios are part of larger media and entertainment industry. The conglomerate includes television, music services, video and streaming services, newspaper, and cable and magazine segments. The U.S. film entertainment segment relished a trade surplus of $16.3 billion in the year 2014.
The US music industry including concerts and touring, grow to $18.3 billion in the year 2017. Actually, this entertainment business is the biggest worldwide music market.
Digital technologies have changed the music industry by generating high quality, affordable recording machinery along with the eruption of devices to download and stream music.
The U.S. gaming industry grows to $36 billion in revenues in 2017, David Borshell says. Nowadays, customers have access to numerous devices for gaming, such as PCs, mobile phones, physical consoles, and tablets. The sector includes physical, digital, and online games.
In the year 2017, eSport ticket auctions in the U.S. raise at a 19.7 percent rate, while eSports streaming marketing grew 35 percent. Currently, eSports revenue grow at $275 million in the US. This entertainment business is continually revolutionizing and bringing new applications to market.
The U.S. book publishing sector, which comprises the physical as well as digital books. This entertainment industry segment is the biggest in the world with $37 billion in auctions, with the universal market at $116 billion. Actually, this media and entertainment industry segment is measured across three major segments including professional, educational, and consumer publishing.
Online vendor Amazon has started physical bookstores, although also owning the biggest audiobook dealer, Audible. More than 70 percent of American young generation own a smartphone. Moreover, up to 45 percent of individuals own a tablet, and one in five own an eReader. Audiobook revenue has currently exceeded e-book revenue, with 2016 figures respectively at $2.1 in 2014 and $1.1 billion in 2015.
Wrapping It Up
David Borshell a senior executive with 30 years of experience in M&E industry has given the above overview. The M&E business is enormous and diverse. In fact, the industry is continually in transformation phase because both old and new continue to exist. Multiple-platform, multiple devices, and interactivity have altered the media and entertainment business vertical over the last decade.