DUBLIN–(BUSINESS WIRE)–The “Asia-Pacific (APAC) Media and Entertainment Market – Growth, Trends, COVID-19 Impact, and Forecasts (2021 – 2026)” report has been added to ResearchAndMarkets.com’s offering.
The Asia-Pacific media and entertainment market is expected to register a CAGR of 7.2% during the forecast period (2021 – 2026)
With the ever-expanding need for seamless communication, digital entertainment, and demand for wireless networks, the media and entertainment market is gradually emerging.
As high-speed Internet has become easily affordable, viewers/audiences that prefer good quality content are preferring smart TVs over other television systems. Also, the growing admiration for OTT streaming in audiovisual content is impacting the overall media and entertainment market positively in the Asia Pacific.
Big studios are adopting enhanced marketing strategies that use advanced digital technology for communication. Investment in promotional activates has increased drastically. The introduction of improved promotional channels is expected to influence revenue growth positively.
The film industry is vulnerable due to the pandemic as both the production and the consumption of its output require numerous people together in small spaces. The primary factors for the growth of the entertainment industry during the COVID-19 pandemic include the increased adoption of online video streaming, notably Netflix, Amazon Prime, among others.