GITNUX MARKETDATA REPORT 2024

Ai In The Media Industry Statistics

AI is projected to drive significant growth in the media industry, with revenue forecasted to reach $1.8 billion by 2025.

Last Updated: June 22, 2024

Written & Summarized by: Jannik Lindner

How we write

In this post, we will explore the significant impact of AI in the Media and Entertainment industry based on a series of compelling statistics. From the widespread adoption of AI for content personalization to the substantial cost savings and the strategic investments made by industry players, the data paints a clear picture of the transformative power of artificial intelligence in shaping the future of media.

Statistic 1

"80% of executives in the Media and Entertainment industry believe AI will have a significant impact on their companies within the next five years."

Statistic 2

"By 2024, 69% of marketing and media professionals worldwide expected to use AI for content personalization."

Statistic 3

"In a 2020 study, nearly 40% of media companies utilize AI for content recommendation."

Statistic 4

"In 2020, worldwide spending on AI in the media and entertainment industry reached $1.8 billion."

Statistic 5

"AI has reduced production costs by 60-75% in the media industry."

Statistic 6

"52% of publishers believe AI offers a significant opportunity for their companies."

Statistic 7

"In 2020, 88% of U.S. brands used artificial intelligence to improve their content moderation strategies."

Statistic 8

"14% of media and entertainment companies have a fully functioning AI operation."

Statistic 9

"In 2020, 31% of media and entertainment executives reported investing in machine learning."

Statistic 10

"A study in 2020 showed that 34% of media companies planned to implement AI in their business processes within 12 months."

Statistic 11

"In 2021, 50% of digital transformation spend in media will be on AI."

Statistic 12

"71% of marketers see AI as a valuable tool for personalization."

Statistic 13

"AI in digital advertising is predicted to hit a growth rate of 26.6% by 2025."

Statistic 14

"89% of ad agencies say they’re using or plan to use AI for audience targeting."

Statistic 15

"The use of AI for news article tagging increased by 33% in 2020."

The statistics presented highlight the increasingly significant role that AI is playing in the media and entertainment industry. From executives expecting AI to have a major impact on their companies to the substantial reductions in production costs and the widespread adoption of AI for content personalization and recommendation, the data indicates a trend towards embracing AI technologies. The statistics also reflect a strong belief in the potential of AI for improving operations and enhancing content delivery strategies. As the industry continues to invest in AI technologies and integrate them into various aspects of their businesses, it is clear that AI is set to become a fundamental tool for driving innovation and competitiveness in the media landscape.

Jannik Lindner

Jannik is the Co-Founder of Gitnux and has been working in the digital space since 2016. He is specialized in content and tech.

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