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.
Entertainment venues, such as online video streaming, sports, live events, and trade shows. Social distancing, quarantining, and staying home will have a significant effect on media consumption as TV viewing, social media conversations, and indoor lifestyle-friendly application usage have rapidly increased.
Key Market Trends
Increasing Trends Around Personalization and Increased Digitalization is expected to Drive the Growth of the Market
India is Expected to Witness Significant Growth
Competitive Landscape
The Asia-Pacific media and entertainment market consists of several players. This industry is viewed as a lucrative investment opportunity due to the huge consumer interest gained recently. The companies are investing in future technologies to gain substantial expertise, which would enable them to achieve sustainable competitive advantage.
Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/5mi7cs
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