Global Motion Picture Industry Market Data 2024, Forecast To 2033
8 Oct, 2024
The motion picture industry market size has shown significant growth in recent years, projected to increase from $47.58 billion in 2023 to $51.7 billion in 2024, reflecting a compound annual growth rate (CAGR) of 8.6%. This growth during the historic period can be attributed to technological advancements in film production, the expansion of cable and satellite TV, the growth of home entertainment systems, the rise of blockbuster franchises, and an increasing global demand for diverse content. Looking ahead, the motion picture industry market size is anticipated to continue its strong growth, reaching $72.38 billion in 2028 at a CAGR of 8.8%. This future growth can be linked to the emergence of streaming platforms, advancements in artificial intelligence (AI) and virtual reality (VR) for film production, growth in international markets, increasing consumer demand for original content, and the expansion of high-definition and 4K technologies. Key trends expected during this forecast period include consolidation among major studios, demand for subscription-based streaming services, investment in original content production, and ongoing technological innovations in film experiences, alongside continued global market expansion.
Global Motion Picture Industry Market Key Driver
The expansion of the entertainment industry is expected to drive growth in the motion picture industry market. The entertainment industry includes a variety of businesses and activities that provide performances, shows, media, and events to engage and amuse audiences through different forms such as film, television, music, theater, and digital media. This industry's growth is spurred by rising consumer demand for diverse, on-demand content across multiple platforms, driven by technological advancements and global connectivity. Motion pictures are integral to the entertainment industry, offering a dynamic and immersive storytelling medium that captivates audiences through visual and auditory experiences. For example, in February 2024, the British Film Institute reported that the total expenditure on film and high-end television production (HETV) in the UK amounted to $4.58 billion (£4.23 billion) in 2023, with domestic UK productions contributing $829 million (£766 million), representing 27% of the total HETV spend, reflecting a 21% increase from 2022. Co-production spending also rose to $42.14 million (£38.9 million), accounting for 1.4% of the overall spend and marking a 7% increase compared to the previous year. Therefore, the growth of the entertainment industry is significantly driving the motion picture industry market.
Get A Free Sample Of The Motion Picture Industry Market ReportGlobal Motion Picture Industry Market Segments
The motion picture industry market covered in this report is segmented –
1) By Genre: Action, Comedy, Drama, Fantasy, Horror, Romance, Other Genres
2) By Dimension: 3D And Above, 2D
3) By Demographics: Children, Adult
By Geography:The regions covered in the motion picture industry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the motion picture industry market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
Major Motion Picture Industry Industry Players
Sony Pictures Entertainment Inc., The Walt Disney Company, Warner Bros. Entertainment Inc., Paramount Pictures Corporation, Metro-Goldwyn-Mayer Studios Inc., Lions Gate Entertainment Corp., Apple Inc. , Universal City Studios LLC, DreamWorks Pictures LLC, TriStar Pictures Inc., Lucasfilm Ltd. LLC, Pixar Animation Studios, Marvel Studios LLC, Miramax LLC , Legendary Pictures Productions LLC, 20th Century Studios Inc., New Line Productions Inc. , Blue Sky Studios Inc., A24 Films LLC, Blumhouse Productions LLC, United Artists Corporation, Focus Features LLC, Illumination Entertainment LLC, Fox Searchlight Pictures Inc., Studio Ghibli Inc.
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Motion Picture Industry Market Overview
The motion picture industry, a part of film industry, encompasses all activities involved in the production, distribution, and exhibition of films or movies. This industry is a major part of the entertainment sector and has a significant cultural and economic impact globally. It encompasses various formats, including films, videos, and digital media, and is a primary medium for entertainment, education, and artistic expression.
Motion Picture Industry Global Market Report 2023 provides data on the global motion picture industry market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The motion picture industry market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.