Global Entertainment, Media Sales Expected to Hit USD 3.4 Trillion in 2028

Fueled by the expansion of online advertising and live events, global revenue in entertainment and media is projected to increase at an average annual rate of 3.9% over the next five years. This growth will see the industry’s revenue rise from $2.8 trillion in 2023 to $3.4 trillion by 2028, as outlined in a recent report by PricewaterhouseCoopers LLP.

Ad sales will reach $1 trillion in 2026, constituting more than half of the industry’s total revenue growth in the coming five years.

PwC reports that the live entertainment, encompassing sports and concerts, is experiencing increased momentum. Emerging from the pandemic’s slowdown, global tours by pop stars like Taylor Swift and Coldplay, alongside the debut of the Sphere in Las Vegas, contributed to 26% growth in live music sales in 2023.

The gaming sector is expected to continue its rapid growth and is anticipated to exceed $300 billion in 2028.

According to the report, global cinema revenue is expected to rebound from the Covid-related downturn and is set to exceed the pre-pandemic levels of 2019 to 2026.

Meanwhile, as competition intensifies among streaming companies for subscribers, PwC noted that these firms will increasingly rely on advertising. By 2028, ad-supported subscriptions are projected to constitute approximately 28% of total streaming revenues.