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Consumer & Services Industry > Media & Entertainment

Media & Entertainment

Media & Entertainment: From Streaming to Virtual Reality

The media and entertainment industry is undergoing a digital renaissance, driven by the proliferation of streaming services, social media platforms, and immersive technologies like virtual and augmented reality (VR/AR). In 2023, the global media and entertainment market was valued at $2.3 trillion, with PwC forecasting it to grow to $3.1 trillion by 2028, representing a CAGR of 6.2%.

Streaming platforms like Netflix, Disney+, and YouTube have disrupted traditional cable TV, with global subscription video-on-demand (SVOD) revenue set to reach $92 billion by 2025, according to PwC. At the same time, the rise of esports, gaming, and immersive experiences in VR/AR is attracting new consumer segments, expanding the scope of media and entertainment content to include interactive and experiential formats.

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