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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Online Entertainment Market Size
The global online entertainment market was valued at USD 419.87 billion in 2023. The market is further projected to grow at a CAGR of 19.30% between 2024 and 2032, reaching a value of USD 2048.33 billion by 2032.
Key Takeaways
- In the U.S. in 2023, 96% of millennials engaged in gaming for 13 hours weekly.
- In the UK, 95% of millennials gamed for 12 hours weekly in 2023.
- Television advertising revenue is forecast to grow by about 0.3% by 2023.
- As of 2022, Netflix had a massive user base of 225 million globally.
Online entertainment is a broad term that refers to any form of entertainment that is delivered through the internet. It can include various types of media, such as video, audio, games, social media, e-books, podcasts, and live streaming. Online entertainment can be accessed through different devices, such as smartphones, laptops, smart TVs, tablets, and gaming consoles.
The online entertainment market is experiencing rapid growth due to several factors. These include the increasing availability and affordability of high-speed internet and mobile data, the rising demand for personalised, interactive, and on-demand content, the emergence of new platforms, services, and formats catering to diverse tastes and preferences, the growing popularity of online gaming, esports, and live streaming among younger generations, and the shift in consumer behavior and preferences due to the COVID-19 pandemic and lockdowns.
Moreover, the online entertainment market outlook has been positive as the industry has witnessed significant growth in North America, Europe, and Asia-Pacific due to advancements in internet-enabled devices and the increasing popularity of OTT services and online gaming.
Online Entertainment Market Report Snapshots
Online Entertainment Market Size
Online Entertainment Market Trends
Online Entertainment Market Regional Analysis
Online Entertainment Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the online entertainment market reached an approximate value of USD 419.87 billion.
The market is expected to grow at a CAGR of 9.3% between 2024 and 2032.
The online entertainment market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 934.75 billion by 2032.
The major drivers of the market include the increase in popularity of the OTT media services, rise in the digital transformation in the media and entertainment industry, and increase in the expenditure on a digital advertisement.
Key trends aiding online entertainment market expansion include the increasing use of smartphones, availability of affordable internet access, rising popularity of gaming form, and growing shift towards e-learning.
Major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The different forms in the market are video, audio, and games, among others.
Based on the revenue model, the market is segmented into subscription, advertisement, and sponsorship, among others.
The various devices in the market are smartphones, smart TVs, projectors, and monitors, among others.
Key players in the market are Netflix, Inc, Amazon.com, Inc., MetaMedia Tech Inc., Google LLC, The Walt Disney Company, Spotify AB, and Tencent Holdings Ltd., among others.
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