The international brand of firms, PricewaterhouseCoopers (PwC) has released today its forecast for the four-year period between 2022-2026, revealing the shifts that are expected to take place within the media and entertainment industry.
If you’d like to check out the four-year forecast by the team at PwC for yourself, you can do so right here.
This study, a comprehensive forecast of consumer and advertiser spending for 14 segments across 52 territories, shows that some previously dominant forces within both fields are expected to give way in the rise of others.
In 2021, the E&M industry bounced back from the contraction of 2020 to resume its growth path, with revenues rising a strong 10.4 percent.
The forecast by PwC reveals that by 2026, the global E&M industry will approach US$3tn in revenues.
However, the stable overall growth pattern masks an underlying volatility. It is clear that the pandemic accelerated changes in consumer behaviour and digital adoption in ways that will affect future growth trajectories.
Some of the sectors that saw immense gains amid the pandemic will not be able to sustain that growth, while others will continue to build from their higher bases. Some formerly niche sectors, such as gaming, will barrel their way into prominence, as other formerly dominant sectors will see their competitive positions erode.
This year, the focus of PwC’s report is the fault lines and fractures that are opening up between industries and companies, within sectors, and between high-growth and low-growth geographies.
One thing is clear from the data and the forecasts: the vast E&M complex is growing more rapidly than the global economy as a whole.
With each passing year, more people around the world are spending more of their time, attention and money on the complex and increasingly immersive E&M experiences that are available to them.
