'Global Entertainment & Media Industry Outlook'
Advertising Emerges as the Key Growth Driver of the Industry
An analysis has found that in order to secure new consumers and achieve growth in the global entertainment and media (E&M) industry, companies must leverage advertising and artificial intelligence (AI) technologies.
On August 6, Samil PwC released the PwC "Global Entertainment & Media Outlook 2025?2029" report, which includes this analysis. Now in its 26th year of publication, the report analyzes and forecasts the E&M industry across 54 regions and 12 sectors worldwide.
According to the report, global E&M industry revenue reached $2.9 trillion last year, up 5.5% from the previous year's $2.8 trillion, driven by growth in advertising, live events, and video games. While the industry's annual revenue growth rate is expected to decline each year due to economic uncertainty and constrained consumer spending resulting from slower growth, it is projected to demonstrate strong resilience and generate approximately $57.7 billion in new revenue by 2029.
Notably, global advertising revenue last year surpassed revenue generated from consumer spending for the first time. Advertising revenue refers to the income generated from advertisements across various media such as TV and the internet, while consumer spending refers to the amount individuals spend on purchasing or subscribing to content or services. The report stated, "Advertising has become the largest segment of E&M revenue and is emerging as the key driver of global growth," adding, "New technologies such as AI and hyper-personalization will further accelerate this growth."
By region, the United States was the world's largest E&M market in terms of revenue and is expected to grow at a compound annual growth rate of 3.8% through 2029. China ranked as the second-largest market and is projected to achieve a 6.1% growth rate by 2029, driven by rapid growth in the internet advertising sector. India and Indonesia are cited as the fastest-growing emerging markets globally, both expected to see compound annual growth rates exceeding 7.5%. In particular, India is experiencing a surge in internet advertising, which is projected to grow at an average annual rate of 15.9%, fueled by increased internet penetration and the expansion of 5G connectivity.
Wilson Chow, PwC Global Technology, Media, and Telecommunications (TMT) Leader, stated, "To secure new consumer bases and achieve growth, entertainment and media companies must utilize the increasingly prominent advertising sector as well as AI technologies," adding, "The combination of these two factors will enable more efficient and optimized models for content creation and audience engagement."
In the case of South Korea, where the power of K-content such as dramas, music, and webtoons is growing globally, the E&M industry growth rate is expected to be 3.0% annually from 2025 to 2029, lower than the global growth rate of 3.7%. The report explained, "This is because South Korea, having recorded high growth rates in the past, has already become a mature market with the ninth largest market size in the world."
Lee Beomtak, Samil PwC Entertainment and Media Industry Leader (Partner), advised, "Although South Korea appears stable, its ecosystem is facing changes in consumer patterns due to digital transformation, shifts in the personalized and sophisticated advertising market, and changes in content production patterns and revenue generation methods driven by AI." He added, "Companies must actively explore new value creation methods and technological innovation, and respond swiftly in order to capture future growth opportunities and secure sustainable competitiveness."
Details of the report are available on the Samil PwC website.
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