The entertainment industry saw a huge shift towards in-home entertainment during the COVID-19 pandemic. Over-the-top (OTT) streaming services, along with traditional TV and video games, saw huge demand. The total global entertainment and media revenue rose 10.4% in 2021 after a 2.3% dip in 2020. This industry is expected to grow at a 4.6% CAGR between 2022-2026.
In addition to the pandemic-led preferential changes, increased penetration of the internet, rapid technological progress, and massive use of social media as an aggregator platform are expected to bolster this industry’s growth prospects. And as cable remains the dominant method for connecting homes to the internet, cable providers should benefit amid the growing streaming services demand.
