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The Entertainment and Media Industry research report predicts that the global entertainment and media market will reach USD 6,709.4 billion by 2030, registering a CAGR of 10.40%.

The report further highlights that the recent years have seen dramatic changes in the entertainment industry, both technologically and in terms of applications. In a highly competitive market, global entertainment and media enterprises can now offer innovative content and innovative distribution models to stay competitive. Content discovery and pricing are constantly being improved through new strategies developed by the major players in the market. Market growth is being revolutionized by the use of digital tools and platforms to facilitate efficient production, distribution, and consumption of content.

According to the report, North America is expected to have the highest market share in the global media and entertainment market, followed by Europe.

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There are several segments within the market, including book and magazine sales, film and theatrical viewings, social media, music, animation, video games, outdoor advertising, radio and broadcasting, and sports and amusement parks. Technology in the media and entertainment industry is becoming more advanced and connected as smartphones, tablets, smart speakers, gaming consoles, and smart TVs proliferate and the Internet is being adopted at an increasing rate. Globally, the entertainment and media market has been segmented by type into films and theatrical presentations, music, social media, animation, video games, sports, art, amusement parks, radio and broadcasting, books and magazines, toys, and outdoor advertising. The global entertainment and media market was dominated by books and magazines in 2018, and this trend appears set to continue through the next decade. Over the forecast period of 2019-2030, video games are expected to grow at the fastest CAGR of 14.95 percent.