Global revenue in the entertainment and media (E&M) sector will reach $3.5 trillion by 2029, according to the ‘Global Entertainment and Media Outlook 2025-2029’ report, published on Thursday by PwC.
According to the consulting firm, the E&M sector is expected to grow at a compound annual growth rate (CAGR) of 3.7% through 2029. This is above the average global economic growth forecast but below the highs reached before the COVID pandemic.
For now, connectivity (e.g., mobile subscriptions) remains the largest category within the E&M sector, with spending expected to reach $1.3 billion in 2029 and a CAGR of 2.8%.
However, by 2029, strong growth rates in advertising should narrow the gap between connectivity and advertising-spend. The latter is expected to grow by 6.1% by 2029.
According to the report, artificial intelligence (AI) will contribute to the growth of these advertising models by promoting "hyper-personalisation."
The non-digital sector (e.g. music, film and live events) is the main source of revenue in terms of consumption. It accounted for 61% of spending in this category in 2024.
Revenue generated by the global film industry is expected to grow from $33 billion in 2024 to $42 billion in 2029.
The global video game market will also remain a growth driver for the E&M sector, surpassing the film and music industries combined, according to PwC. Its total revenue amounted to $224 billion in 2024, with a forecast of nearly $300 billion in 2029.
