The entertainment industry experienced a windfall during the COVID-19 pandemic due to a significant surge in demand for digital entertainment. It provided many people means to stay entertained and active from the confines of their homes. The integration of advanced technologies such as 5G, artificial intelligence (AR), virtual reality (VR), and metaverse should boost growth in the entertainment space.
Since content creation and consumption are set for a paradigm shift with the advent of the metaverse, the entertainment industry is expected to reach a revenue of $29.35 billion globally in 2022 and grow at an 8.5% CAGR to a projected volume of $40.74 billion by 2026.
