The media and entertainment industry continues to evolve thanks to technological progress and behavioral changes caused by the pandemic. The pandemic-led remote lifestyles boosted demand for streaming services, gaming, and user-generated content.
According to PwC's Global Entertainment & Media Outlook, following a pandemic-related 2.3% fall in 2020, Entertainment & Media revenue increased strongly by 10.4% in 2021 to $2.34 trillion. As the industry is becoming more digital, mobile, and youth-focused, virtual reality (VR) and gaming should significantly drive its growth.
