Movie Production Market size is set to grow by USD 56.11 billion from 2024-2028, Growing popularity of the global box office to boost the market growth, Technavio

NEW YORK, May 21, 2024 /PRNewswire/ -- The global movie production market  size is estimated to grow by USD 56.11 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.76%  during the forecast period. 

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Key Market Trends Fueling Growth

Filmmakers are increasingly targeting international audiences, elevating the global movie production market above local or regional counterparts. Notably, Hollywood, the world's largest film industry, garners over 70% of its revenue from international markets. This trend encourages diversity in genre and theme experimentation, attracting more investments to local box offices.

In 2020, eight movies, including Avengers: Endgame and Disney's The Lion King, achieved billion-dollar box office revenues. European and other films also saw significant success between 2022 and the first half of 2023. Ruben Ostlund's Palme d'Or-winning film Triangle of Sadness earned over $25 million across 40 international markets, while James Cameron's Avatar: The Way of Water broke records, grossing nearly $800 million in Europe and the Middle East. The escalating popularity of the global box office is poised to drive market growth in the forecast period.

Market Challenges

• Film piracy, the unauthorized sharing of copyrighted movies or TV shows, is a growing concern in the movie production industry. With the popularity of online ticket booking services, piracy has become more prevalent. This illegal activity impacts the industry in various ways. It diminishes profitability by diverting potential customers from legitimate channels and reducing revenue, which can lead to decreased investment in future productions.
• Moreover, piracy discourages studios from creating high-quality content, affecting the overall quality and diversity of movies. To address this issue, stronger enforcement of copyright laws, better digital rights management, and increased public awareness are necessary.
• Collaboration among industry stakeholders is crucial to combat piracy and ensure fair compensation for content creators. Failure to tackle this problem could impede the growth of the global movie production market.

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Segment Overview 

1. Language 
• 1.1 English
• 1.2 French
• 1.3 Spanish
• 1.4 Mandarin
• 1.5 Others
2. Genre 
• 2.1 Drama
• 2.2 Action
• 2.3 Comedy
• 2.4 Thriller and others
3. Geography 
• 3.1 North America
• 3.2 Europe
• 3.3 APAC
• 3.4 Middle East and Africa
• 3.5 South America

1.1 English- The English movie market is set for significant growth in the upcoming years. Major players like Warner Bros and Walt Disney are driving this growth with their extensive film libraries and adoption of advanced filming technologies. Walt Disney Studios alone boasts a collection of over 5,100 live-action and 400 animated movies, spanning a century of cinematic history. The English segment, valued at USD 39.47 billion in 2018, holds the largest share of the market.

One notable advancement in filming technology is the use of 360-degree videos, which offer viewers a panoramic view of the movie set. This, along with the integration of virtual reality (VR), is revolutionizing the digital entertainment landscape. VR, in particular, is gaining traction among English movie producers, offering audiences a more immersive viewing experience.

With vendors continually embracing these cutting-edge tools and techniques, the English movie segment is expected to experience robust growth in the forecast period. As audiences increasingly seek out innovative and engaging content, the adoption of these advancements will be key in driving the market forward.

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Research Analysis

The entertainment landscape has witnessed a profound shift with the advent of digital platforms. Theaters, once the primary mode of watching movies, now contend with IPTV, digital cable, and streaming services. Millennials, equipped with smart devices, prefer online streaming over traditional television. This transformation has spurred the rise of OTT platforms and streaming services, challenging film distributors and cinema chains.

Social media platforms play a pivotal role in marketing and distribution, amplifying the reach of local production houses and film studios. American cinema chains are adapting to the demand for 3D movies and online streaming.

Additionally, there's a growing appetite for Asian movies and music, especially from China, Japan, South Korea, India, the Philippines, and Vietnam. With the proliferation of digital newspapers and online music and movie sales, the movies and entertainment industry faces a dynamic landscape, ripe with opportunities and challenges alike.

Market Research Overview

In today's dynamic entertainment landscape, diverse content reigns supreme. Livemint explores the booming popularity of 3D films, DTH services, and streaming platforms. From captivating Chinese, Japanese, and South Korean movies & music to the vibrant Indian, Philippines, Vietnam, and Australian entertainment scenes, there's something for everyone.

Notably, General entertainment movies are gaining traction alongside breakout hits like Squid Games. Moreover, creative writing is carving its niche, adding depth to storytelling. As consumer preferences evolve, the industry adapts, delivering engaging experiences across multiple platforms. With an array of options available, the future of entertainment promises innovation and creativity, ensuring audiences remain captivated and connected.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

• Language 
• English
• French
• Spanish
• Mandarin
• Others
• Genre 
• Drama
• Action
• Comedy
• Thriller And Others
• Geography 
• North America
• Europe
• APAC
• Middle East And Africa
• South America

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/ 

SOURCE Technavio

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