The Asia Pacific movies & entertainment market is expected to reach USD 46.4 billion by 2025 owing to the rising disposable income of middle class consumers. Increasing employment of youth has resulted in rising demand for entertainment sector. Moreover, the increasing demand for local content have given rise for high investment in local movies. This is attributed to the increased initiatives from the government. Furthermore, the increasing investments in infrastructures such as malls, airports and multiplexes is expected to aid in industry growth.
The advancement in technologies is expected to drive this market significantly over the forecast period. Technology advancements has improved effects, and graphics in movies, augmenting the market growth. The well-established players are adopting strategy of converting comic-super hero adventure, robots and animation into a movie to lure the customers. For instance, the Marvel, Pixar and Lucas produced movies based on Marvel or Disney comic characters such as Iron man, spider man, hulk and etc. The increasing inclination towards digital production and distribution is also anticipated to drive the movies & entertainment industry in future period. The increase in online video streaming is expected to aid in the growth of music industry which in turn is expected to result in growth of overall entertainment sector.
Increasing penetration of media devices is further expected to result in growth of this sector. For instance, in Japan, penetration for PC’s were around 79%, 32% for tablets and 95% for smart phones in 2016. The young generation today is looking for quality at lowest possible cost and the telecom industry is fulfilling this need by providing online streaming services. Thus, countries are undergoing adoption for technological advancements such as 4K and 8K broadcast. For instance, 4K broadcasts are under process that will use BS and communication satellite in 2018. Thus, such government reforms and investments in infrastructure providing high speed services is expected to increase the market of entertainment industry.
Key players are adopting various business strategies to help increase the sale of cinema tickets. Such as the blockbuster movies are planned to benefit from the premium formats while the smaller from the online platforms such as Netflix and Amazon. Thus, innovative business strategies are expected to augment the movie and entertainment market over the forecast period.
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Hexa Research has segmented the Asia Pacific movies & entertainment market report based on type and country:
Segmentation by type, 2015 - 2025 (USD Billion)
• Movies
• Music
Segmentation by country, 2015 - 2025 (USD Billion)
• China
• Japan
• Rest of Asia Pacific
Key players analyzed:
• Viacom 18 Motion Pictures
• Sony Pictures Studios
• Toho Co., Ltd.
• Amazon
• Netflix