Online Entertainment Market

Market Overview:

The global online entertainment market size reached US$ 367.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,203.9 Billion by 2028, exhibiting a growth rate (CAGR) of 20.57% during 2023-2028.

The concept of online entertainment refers to accessing material over the internet, such as music, movies, and web shows. There are currently more entertainment services available online, which provides users with a greater selection of content. The most common online entertainment sources include video streaming, music streaming, video chat communication, and multi-player gaming. In addition to this, this form of entertainment also involves entertainment interactive functions and content, such as social networking services, graph management, forums, geolocation reviews, and ratings. As a result, users can choose from a wide range of easily accessible material, which is mostly free and low-priced. Entertainment over the internet has gained significant traction due to the immense popularity of on-demand content and OTT platforms.

Online Entertainment Market Trends:

The market is majorly driven by the continual technological advancements in smart devices providing enhanced visual and listening experiences to the users. This can be attributed to a considerable increase in the penetration of smartphones among the masses. In addition to this, the widespread adoption of internet-enabled smart devices, including smart TVs, laptops, desktops, and smart projectors, have led to an increased demand for online entertainment content, thus fueling the market. Moreover, the easy availability of internet service at affordable prices, along with the growing data tariffs, are providing an impetus to the market growth. The market is further propelled by the rapid digitization in the media and entertainment sector. Apart from this, the rising popularity of OTT platform subscriptions and the escalating number of OTT application downloads are creating a positive market outlook. Some of the other factors contributing to the market include the increasing size of touchscreen displays, the expanding expenditure on digital advertisements, the emergence of high-speed 5G internet, inflating disposable income levels and extensive research and development (R&D) activities conducted by the key players.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global online entertainment market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on form, revenue model and device.

Breakup by Form:

• Video
• Audio
• Games
• Internet Radio
• Others
   

Breakup by Revenue Model:

• Subscription
• Advertisement
• Sponsorship
• Others
   

Breakup by Device:

• Smartphones
• Smart Tvs, Projectors and Monitors
• Laptop, Desktop and Tablets
• Others
   

Breakup by Region:

• North America
  • United States
  • Canada
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Amazon Web Services Inc. (Amazon.com Inc.), Charter Communications Inc., Comcast Corporation, Google LLC (Alphabet Inc.), King.com Limited (Activision Blizzard Inc.), Meta Platforms Inc., Netflix Inc., Rakuten Group Inc., Sony Pictures Networks India Pvt. Ltd. (Sony Corporation), Spotify AB, The Walt Disney Company and Ubisoft Entertainment SA.

Report Coverage: