Asia-Pacific Media and Entertainment Market Report 2021: Growth, Trends, Impact of COVID-19, and Forecast to 2026 – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The “Asia-Pacific (APAC) Media and Entertainment Market – Growth, Trends, Impact of COVID-19, and Forecast (2021-2026))” the report was added to ResearchAndMarkets.com offer.

Asia-Pacific Media and Entertainment Market is expected to register a CAGR of 7.2% during the forecast period (2021 – 2026)

With the ever increasing need for seamless communication, digital entertainment and the demand for wireless networks, the media and entertainment market is gradually emerging.

As high speed internet has become easily affordable, viewers / audiences who prefer good quality content prefer smart TVs over other TV systems. In addition, the growing admiration for OTT streaming in audiovisual content is positively impacting the overall media and entertainment market in the Asia-Pacific region.

The big studios are adopting improved marketing strategies that use advanced digital technology for communication. Investment in promotional activations has increased significantly. The introduction of improved promotional channels is expected to positively influence revenue growth.

The film industry is vulnerable due to the pandemic, as the production and consumption of its production requires many people gathered in small spaces. Major growth drivers for the entertainment industry during the COVID-19 pandemic include the increased adoption of online video streaming, including Netflix, Amazon Prime, among others.

Entertainment venues, such as online video streaming, sports, live events, and trade shows. Social distancing, quarantining, and staying at home will have a significant effect on media consumption, as watching TV, chatting on social media, and using user-friendly apps indoors will have a significant impact on media consumption. rapidly increased.

Key market trends

Growing trends around personalization and increased digitization are expected to drive market growth

  • With 5G technology set to become the most important next-generation cellular network technology in 2020, especially in urban areas, the growing adoption of OTT (Over-the-top) content will continue to grow.

  • Following the latest OTT trends, 4K video streaming takes up to around 30Mbps over internet bandwidth. To stream video this high resolution, you need to have at least double that available bandwidth, which is unusual for consumer Internet connections. However, with the rise of 5G, the additional bandwidth will allow 4K and VR (virtual reality) streaming to be one of the defining characteristics during the forecast period. Such an increase in the demand for high resolution video will ultimately lead to the adoption of higher wireless network standards and hence further drive the penetration of the media and entertainment market.

  • The increased focus on customer experience and personalization using constantly evolving technology to protect revenue and achieve long-term growth has proven to be a key driver of the growth of the company. Marlet.

  • This success is fueled by substantial financial support from central governments. For example, China plans to create a $ 30 billion fund to ensure it is a global leader in AI by 2030. At the same time, India is advancing with mobile wallets and apps. Progressive web to streamline in-app experiences (especially for locations with slow mobile broadband). Such holistic developments of the infrastructure, which acts as a technical backbone of the market, will translate into growth opportunities and better customer retention.

India is expected to experience significant growth

  • Rising levels of disposable income and growing internet penetration in the country are also contributing to increased sales of smart TVs, increased online streaming subscriptions, etc. and thus fuel market growth. Moreover, according to IBEF, the size of the OTT video streaming market in India is expected to reach USD 5 billion by 2023, and India is expected to become one of the top 10 global OTT markets by 2022.

  • The increasing penetration of internet can also be termed as a contributing factor to the widespread expansion of the media and entertainment market in India. According to Bain and Company’s “Unlocking Digital for Bharat: USD 50 Billion Opportunity” report, “India has the second highest number of active Internet users, with around 390 million residents who use the web at least once. times per month.

  • In addition, the Government of India’s digital transformation initiatives, such as the digitization of cable and direct-to-home (DTH) TV services, are also driving the adoption of IPTV in the country. The IPTV scenario in India is changing due to the advent of the network service provider, the company providing free live IPTV subscriptions to its customers. With other companies following suit, the demand for mobile-based IPTV services is expected to increase in the region, which in turn will increase the demand for media and entertainment in the region.

  • However, the market is also facing some challenges. In recent years, the creation of media content has undergone a radical change with a shift from traditional television to digital online platforms. Online entertainment content providers, such as Netflix and Amazon, have successfully introduced acclaimed original video content to the region. These companies also finance content in regional languages ​​to attract customers, especially in multilingual countries such as India. Growing competition in the market, high cost of content creation, and technical difficulties associated with viewing videos online may hamper the growth of the market to some extent during the forecast period.

Competitive landscape

The Asia-Pacific media and entertainment market is made up of several players. This industry is seen as a lucrative investment opportunity due to the huge consumer interest gained recently. Companies invest in the technologies of the future to acquire substantial expertise, which would allow them to obtain a sustainable competitive advantage.

Companies mentioned

  • Zee Entertainment Companies Limited

  • Sun TV Network Limited

  • Dish TV India Limited

  • China Media Group Co. Ltd

  • Shanghai Media and Entertainment Group (SMEG)

  • China Film Group Corporation

  • Shanghai Animation Film Studio (Shanghai Film Group Corporation)

  • DB Corp Ltd

  • HT Media Limited

  • BlueFocus Communication Group Co. Ltd

  • Eros International SA

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