From blockbuster movie releases to immersive gaming worlds and viral streams on social media, the global entertainment industry is a sprawling $2.8 trillion ecosystem that captivated our screens, stages, and devices more than ever in 2023.
Key Takeaways
- In 2023, the global entertainment and media market reached a value of $2.8 trillion, with a projected CAGR of 4.8% through 2027 according to PwC's Global Entertainment & Media Outlook
- US motion picture and video exhibition industry revenue hit $32.4 billion in 2023, up 15% from 2022 per IBISWorld
- Streaming video services generated $129.9 billion globally in 2023, representing 45% of total video entertainment revenue as per Statista
- In 2023, 67% of US adults subscribed to at least one streaming service, up from 62% in 2022 per Nielsen
- Global average daily time spent on entertainment media was 7 hours 50 minutes in 2023 according to PwC GEMO
- 85 million paid music subscriptions worldwide in Q4 2023 via IFPI
- Hollywood released 504 films in 2023, down 10% from 2022 per The Numbers
- Global music releases hit 120,000 new albums and EPs in 2023 via IFPI
- US scripted TV series production totaled 599 in 2022-2023 season per FX/SAG-AFTRA
- In 2023, Netflix held 45% global SVOD share by hours viewed per Nielsen
- 5G adoption boosted mobile gaming sessions by 25% in 2023 via Ericsson
- Cloud gaming users worldwide reached 295 million in 2023 per Newzoo
- US entertainment industry employed 2.7 million workers in 2023 per BEA
- Average salary for film directors in Hollywood was $187,000 in 2023 via BLS
- Streaming sector venture capital investment hit $4.5 billion in 2023 per PitchBook
The entertainment industry grows through streaming, gaming, and a rebound in live events.
Audience and Consumption
- In 2023, 67% of US adults subscribed to at least one streaming service, up from 62% in 2022 per Nielsen
- Global average daily time spent on entertainment media was 7 hours 50 minutes in 2023 according to PwC GEMO
- 85 million paid music subscriptions worldwide in Q4 2023 via IFPI
- US weekly TV viewing time averaged 2 hours 46 minutes for streaming vs 2 hours 31 minutes for linear TV in 2023 per Nielsen
- 2.7 billion gamers worldwide in 2023, with 3.2 billion expected by 2027 from Newzoo
- 58% of global internet users watched OTT content daily in 2023 per Statista
- US box office attendance reached 711 million tickets sold in 2023 via MPA
- Podcast listeners in the US totaled 158 million monthly in 2023 according to Edison Research
- 42% of Gen Z consumers prefer live events over streaming in 2023 per Eventbrite
- Global SVOD households penetrated 1.1 billion in 2023 from Ampere Analysis
- Average US household subscribed to 5.8 SVOD services in 2023 per Antenna
- 75% of UK adults consumed video games in 2023 via UKIE
- Time spent on social video consumption globally averaged 95 minutes daily in 2023 per eMarketer
- 36% of US adults attended a live music concert in the past year in 2023 according to Live Nation
- Anime viewers worldwide reached 1 billion in 2023 per Parrot Analytics
- US linear TV viewership share dropped to 32.4% in 2023 from Nielsen
- 62% of global consumers used ad-supported streaming in 2023 via Deloitte
- Esports viewers globally hit 532 million in 2023 per Newzoo
- Book reading time in the US averaged 16 minutes daily in 2023 from American Time Use Survey
- 49% of millennials binge-watched TV shows weekly in 2023 per Statista
- Global radio listeners totaled 5.4 billion weekly in 2023 via WorldDAB
- Theme park visits in the US reached 348 million in 2023 per TEA
- Vinyl listeners in the US grew 14.2% to 49 million in 2023 from Luminate
- 71% of French consumers used streaming services daily in 2023 per Médiamétrie
- Comic book readers in Japan averaged 4.2 volumes per month in 2023 via Yano Research
- US sports viewership averaged 90 million unique viewers per NFL season in 2023 per Sports Media Watch
- Global SVOD churn rate averaged 8% quarterly in 2023 from Antenna
Audience and Consumption Interpretation
We have become willing architects of our own digital cages, enthusiastically subscribing to more streaming services than we can possibly watch while simultaneously carving out nearly eight hours a day for entertainment, a testament to our collective hunger for stories, music, and games that now overwhelmingly flows through glowing screens, even as a persistent faction rebels by buying vinyl, packing concert halls, and insisting that the best seat is still in a stadium, not on a sofa.
Employment and Financials
- US entertainment industry employed 2.7 million workers in 2023 per BEA
- Average salary for film directors in Hollywood was $187,000 in 2023 via BLS
- Streaming sector venture capital investment hit $4.5 billion in 2023 per PitchBook
- Music industry royalties paid $16.8 billion globally in 2023 from IFPI
- US theater employment recovered to 85% pre-pandemic levels with 120,000 jobs in 2023 via NATO
- Gaming industry created 11,000 new jobs in the US in 2023 per ESA
- Profit margins for major studios averaged 12.5% in 2023 per Deloitte
- 450,000 freelancers in US entertainment in 2023 via Freelancers Union
- EBITDA for Netflix was $6.9 billion in 2023 from company filings
- Cost per hour of TV production rose 15% to $4.5 million in 2023 per Variety Intelligence
- 1.2 million jobs in global music sector in 2023 per IFPI
- Disney's operating income $12.9 billion in FY2023 per investor reports
- Average actor salary in US $25/hour in 2023 via BLS
- Esports prize pools totaled $140 million in 2023 per Esports Earnings
- 75,000 jobs in UK creative industries added in 2023 via DCMS
- Warner Bros. Discovery net loss $11.5 billion in 2023 from SEC filings
- Live events staffing costs up 18% to $10 billion US in 2023 per Pollstar
- 300,000 jobs in podcasting ecosystem globally estimated 2023 via IAB
- Theme park operator average wage $18.50/hour in 2023 per BLS
- Global box office contributed $100 billion to GDP in 2023 via Oxford Economics for MPA
Employment and Financials Interpretation
The entertainment industry is a high-stakes paradox where a director's salary could fund a small indie film, streaming companies burn venture capital like it's prop money, and while one studio posts Disney-sized profits, another incurs Warner-sized losses, all on a stage where the average actor makes less than a theme park performer.
Production and Content Creation
- Hollywood released 504 films in 2023, down 10% from 2022 per The Numbers
- Global music releases hit 120,000 new albums and EPs in 2023 via IFPI
- US scripted TV series production totaled 599 in 2022-2023 season per FX/SAG-AFTRA
- 12,500 video games released on Steam in 2023 according to SteamDB
- Bollywood produced 1,700 films in 2023 via Box Office India
- Podcast episodes produced globally exceeded 4 million in 2023 per Podcast Index
- 2,400 new Netflix original series launched worldwide 2020-2023 per Netflix
- US independent film production grew 20% to 800 features in 2023 via IndieWire
- Global anime episodes aired totaled 300,000 in 2023 from Anime News Network
- 15,000 hours of new YouTube content uploaded daily in 2023 per YouTube
- Broadway shows produced 36 new productions in 2023-2024 season via Broadway League
- 8.5 million TikTok videos created daily worldwide in 2023 per TikTok
- Comic book titles published in the US reached 1,200 in 2023 via ICv2
- Global documentary films produced 2,500 in 2023 per IDFA
- Streaming platforms commissioned 700 original movies in 2023 from Parrot Analytics
- 450 K-pop albums released in 2023 via Hanteo Chart
- US TV pilots produced dropped to 150 in 2023 per Deadline
- 25,000 esports events held globally in 2023 per Esports Charts
- Book titles published worldwide hit 2.2 million in 2023 from Statista
- Live streaming hours on Twitch averaged 100 million daily in 2023 via Streamlabs
- 1,200 new symphony compositions premiered globally in 2023 per IMC
- Reality TV formats adapted in 150 countries in 2023 via FRAPA
- 3,500 radio programs launched in the US in 2023 per RAB
- Theme park attractions opened 120 new rides worldwide in 2023 per IAAPA
- Netflix produced content in 20 languages with 1,200 hours in non-English in 2023
- Disney released 85 films and series in 2023 across platforms per Disney Investor Relations
Production and Content Creation Interpretation
While Hollywood fine-tunes its blockbuster bets, the rest of the creative planet, armed with cameras, microphones, and keyboards, is engaged in a gloriously chaotic, content-slinging free-for-all that would make any algorithm blush.
Revenue and Market Size
- In 2023, the global entertainment and media market reached a value of $2.8 trillion, with a projected CAGR of 4.8% through 2027 according to PwC's Global Entertainment & Media Outlook
- US motion picture and video exhibition industry revenue hit $32.4 billion in 2023, up 15% from 2022 per IBISWorld
- Streaming video services generated $129.9 billion globally in 2023, representing 45% of total video entertainment revenue as per Statista
- The global music industry revenue grew to $28.6 billion in 2023, a 10.2% increase year-over-year reported by IFPI
- Gaming industry worldwide revenue was $184.4 billion in 2023, with mobile gaming at 49% share according to Newzoo
- North American entertainment market size stood at $612 billion in 2023 per PwC GEMO
- Box office revenue in the US reached $9 billion in 2023, recovering post-pandemic via MPA Theatrical Market Statistics
- Global OTT video market revenue projected to hit $279.12 billion by 2030 with 21.3% CAGR from Grand View Research
- Live events and ticketing revenue in the US was $30 billion in 2023 per Pollstar
- Cable TV providers revenue in the US declined to $102.3 billion in 2023 according to Statista
- Broadcast TV ad revenue globally was $183 billion in 2023 from PwC
- US home video revenue (digital + physical) at $25.6 billion in 2023 per DEG
- Anime market revenue worldwide reached $28.6 billion in 2023 via Statista
- Podcast advertising revenue in the US hit $2 billion in 2023 according to IAB
- Global esports market revenue was $1.38 billion in 2023 per Newzoo
- Theater chain revenue in Europe grew 12% to €25 billion in 2023 from UniFrance
- Vinyl record sales revenue reached $1.4 billion in the US in 2023 via RIAA
- Subscription video-on-demand (SVOD) revenue globally at $97.5 billion in 2023 per Ampere Analysis
- US performing arts revenue was $18.5 billion in 2023 according to IBISWorld
- Global book publishing revenue for entertainment genres hit $120 billion in 2023 from PwC
- Online gambling entertainment revenue worldwide $95.05 billion in 2023 per Statista
- US radio broadcasting revenue $15.6 billion in 2023 via Statista
- Latin American streaming market revenue $7.2 billion in 2023 from Statista
- Global theme park revenue $45.2 billion in 2023 per TEA/AECOM
- Advertising video on demand (AVOD) revenue $25 billion globally in 2023 via eMarketer
- US symphony orchestras revenue $2.1 billion in 2023 from League of American Orchestras
- Global comic book market revenue $15.5 billion in 2023 per Statista
- Transactional video on demand (TVOD) revenue worldwide $24.8 billion in 2023 according to Statista
- Australian entertainment industry revenue AUD 120 billion in 2023 via Screen Australia
Revenue and Market Size Interpretation
The global entertainment industry is a $2.8 trillion titan that is frantically shape-shifting, as streaming's voracious appetite swallows nearly half of all video revenue while cable TV withers, proving that our collective need for stories, songs, and spectacles is both insatiable and constantly being remade by the very platforms we create.
Technology and Platforms
- In 2023, Netflix held 45% global SVOD share by hours viewed per Nielsen
- 5G adoption boosted mobile gaming sessions by 25% in 2023 via Ericsson
- Cloud gaming users worldwide reached 295 million in 2023 per Newzoo
- VR/AR entertainment market grew to $12.5 billion in 2023 from Statista
- 80% of streaming services used AI for content recommendation in 2023 per Deloitte
- Global CDN market for video streaming hit $25 billion in 2023 via MarketsandMarkets
- 4K UHD streaming adoption reached 55% of US households in 2023 per DEG
- Blockchain NFT sales in entertainment dropped to $8.7 billion in 2023 from CryptoSlam
- Interactive streaming platforms grew 40% with 500 million users in 2023 per Gartner
- OTT app downloads worldwide 4.2 billion in 2023 via App Annie (data.ai)
- 65% of music streaming used lossless audio formats in 2023 per Soundcharts
- Metaverse entertainment platforms had 600 million monthly users in 2023 via McKinsey
- FAST (free ad-supported streaming TV) channels reached 1,000 globally in 2023 per Amagi
- AI-generated content hours on platforms hit 10% of total in 2023 per DeepMedia
- 5G-enabled live streaming latency reduced to under 1 second for 70% of events in 2023 via GSMA
- Gaming PCs with ray tracing tech sold 25 million units in 2023 per Jon Peddie Research
- Social video platforms processed 15 trillion views in 2023 per TikTok/YouTube data
- Edge computing adoption in streaming cut buffering by 30% for 40% providers in 2023 via Limelight
- Dolby Atmos music tracks streamed 2 billion times in 2023 per Dolby
- 300 million smart TV activations worldwide in 2023 from Omdia
- Web3 gaming platforms onboarded 50 million wallets in 2023 per DappRadar
- HDMI 2.1 adoption in home theaters reached 45% in 2023 via CEA
Technology and Platforms Interpretation
While Netflix's enduring dominance and our collective march toward 4K clarity suggest a polished, high-fidelity future, the industry's true pulse is a chaotic, multi-front war where AI churns out content, 5G and the edge eliminate lag, and billions are diving headfirst into interactive, mobile, and immersive worlds—even as they cautiously dip a toe into the wobbly realms of blockchain and the metaverse.
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