The Music and Entertainment Industry

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The show business , also informally referred to as “show business,” may be a crucial a part of the worldwide economy and includes an outsized number of subsectors. The term is often used to describe communications companies that control the production and distribution of content in various formats.

But in reality, this expression connotes commercially popular performing arts and is applied to film, television, radio, theater, and music.

THE SIZE AND SCOPE OF THE

ENTERTAINMENT INDUSTRY TODAY

The entertainment industry has benefited from the proliferation of digital applications and platforms. In this sense, the internet has triggered a revolution in human life, so now it is possible to have information and entertainment just a click away: we can find anything on the internet.

This tool has created a source of entertainment for all generations and thanks to it we have access to all the content we can imagine, no matter where or when we want to consult it.

Now more than ever it is easier to produce, distribute and consume content: the technology behind it all transforms the way we live in the 21st century.

In 2016 alone, the global media and entertainment (M&E) market, that is, the entertainment industry, reached US $ 1.9 trillion in revenue and is estimated to have grown by almost 5% to reach just under US $ 2 trillion in 2017.

Source: United States Department of Commerce.

https://www.trade.gov/topmarkets/pdf/ Top% 20Markets% 20Media% 20and% 20Entertinment% 202017.pdf

FACTS AND NUMBERS

In 2016, China, with a worth folks $ 190 billion, became the second largest market after the us , with a worth folks $ 712 billion, followed by Japan with US $ 157 billion, Germany with US $ 97 billion and the United Kingdom with US $ 96 billion. France came in sixth place, worth US $ 69.3 billion.

For their part, the six largest Latin American M&E markets together reached US $ 96,000 in 2016. The M&E market is mainly made up of small companies, but large corporations, often diversified within the digital and technology sectors, dominate the industry.

Source: United States Department of Commerce.

https://www.trade.gov/topmarkets/pdf/Top Markets Media and Entertinment 2017.pdf

Digital income represents 50% of global income today.

The global market for recorded music grew by 5.9% in 2016, the highest rate since the International Federation of the Phonographic Industry (IFPI) began analyzing the market in 1997, according to the Global Report of Music 2017 made by IFPI.

Total revenue for 2016 was $ 15.7 billion.

At the top of 2016, there have been 112 million users of paid music streaming subscriptions generating annual streaming revenue growth of 60.4%.

Digital revenue accounted for, for the first time, half of the total revenue generated last year by the recorded music industry globally.

Online streaming services are helping drive growth in developing music markets. China has grown 20.3%, India 26.2% and Mexico 23.6%, this outlook reveals strong growth in revenues.

Record companies have driven this revenue growth through continued investment not just in artists, but also in the systems that host digital platforms. This has allowed the authorized distribution of more than 40 million tracks on hundreds of services.

 

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