Worldwide Digital Media Market Projected To Reach $331 Billion In 2022

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Jan 19, 2022, 08:45 ET

PALM BEACH, Fla., Jan. 19, 2022 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - Digital Media is defined as audiovisual media contents and applications that are distributed directly over the Internet. This includes digital video content, digital music as well as digital games for different devices and electronically published written content. A report from Statista said that The worldwide revenue of US$294 billion in 2021 is expected to grow to US$447 billion up to 2026… Another report from Statista added that Revenue in the Digital Media market is projected to reach US$331,685m in 2022. The market's largest segment is Video Games with a projected market volume of US$175,060m in 2022. In global comparison, most revenue will be generated in the United States (US$95,210m in 2022). It continued saying: "By inventing the letterpress in 1450, Johannes Gutenberg laid the foundation for the reproduction of information on a massive scale. During the following centuries, this progress not only covered books, it also lead to the development of other media like music and videos becoming mass products as well. While radio and TV contributed to this emerging knowledge society in an analog way, PCs and the internet made the shift to the digital world. Now books, music, videos, and also video games are easily accessible on almost any device from anywhere in the world." Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), AMC Theatres (NYSE:AMC), Roku, Inc. (NASDAQ: ROKU), Liberty Media Corporation (NASDAQ: LSXMK), Netflix, Inc. (NASDAQ: NFLX).

Statista continued: "Comparing the three major Digital Media markets – the U.S., China, and Europe – the U.S. is the biggest market in 2021 and will still be by 2026. In the U.S. market, revenues of US$85.6 billion are generated in 2021. Albeit having a relatively small CAGR of 7.6%, the market is expected to exceed revenues of US$123.5 billion by 2026. The second biggest Digital Media market is China with a market volume of US$66.0 billion in 2021. Growth rates of 10.4% annually will lead to revenues of US$108.4 billion in 2026, then accounting for half of all revenues generated in Asia. In other words, the Chinese market is expected to show the largest growth rates of the three major regions. The market in Europe is worth US$56.8 billion in 2021 and Video Games being the biggest segment. Revenues are expected to grow at a CAGR of 7.5% by 2026, resulting in revenues of US$81.5 billion."

Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Curiosity Ink Media Joins Forces With Dynamite Entertainment to Help Save The World in Debut of New IP Franchise - The Legion of Forgettable Supervillains - Curiosity Ink Media – the family entertainment engine for Grom Social Enterprises, Inc. today unveiled The Legion of Forgettable Supervillains, an original intellectual property (IP) franchise which will debut as a graphic novel in partnership with publisher, Dynamite Entertainment. Slated for release in 2022, The Legion of Forgettable Supervillains centers around a group of failed superheroes who inadvertently find greater success and acclaim in villainy. Publishing will serve as a launch point for future brand extension opportunities including a recurring TV series, feature films, consumer products and global merchandising and cobranding opportunities. The franchise debut was announced today by Curiosity Ink Media's Chief Content Officer, Russell Hicks.

The Legion of Forgettable Supervillains centers around Ben Mondo and his rag tag group of friends, all of whom aspire to be superheroes and each with an abysmal track record of heroic feats. Frustrated in his career, Ben is ready to hang up his cape. However, after stumbling upon a bank heist, he is mistakenly identified as the robber. Reveling in his newfound notoriety, Ben sees a path to fame and success in pivoting to villainy. Armed with fresh hope and possibilities, Ben creates The Forgettable Supervillains Society. Together the legion finds the change to be just what they needed, as it instantly transforms their lives from boring to breakthrough, and their villainous acts are often interpreted as heroism.

"Now more than ever the world needs to be saved and who better for the job than The Legion of Forgettable Supervillains, a group of heroes who know a thing or two about overcoming the odds," said Hicks. "We're so excited to team up with the experts at Dynamite Entertainment to bring these characters and their unique stories to life. We see great potential in taking our supervillains from page to screen to join the legion of beloved anti-heroes who dominate pop culture."

"Heroes and villains have always been at the core of our stories here at Dynamite, and we're thrilled to be collaborating with Curiosity on this novel new take on these classic tropes," said Nick Barrucci, Dynamite CEO and Publisher. "We're no stranger to villainy here at Dynamite, as in our hit series 'The Boys,' which has found its way to screens. We're looking forward to helping develop and expand The Legion of Forgettable Supervillains and introduce a new generation to some fun characters." CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/

Other recent developments in the markets include:

AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East, and in the world, recently announced it has reached lease agreements and plan to reopen theatres in the Los Angeles and Chicago markets. AMC is expected to begin operations at AMC Northridge Fashion Center 10, formally a Pacific theatre, in Northridge, Calif., in the spring of 2022. AMC expects to begin operations at AMC Chicago 14, formally an Arclight location in NEWCITY located in the Lincoln Park neighborhood, under a new name in spring of 2022.

AMC remains in active discussions with other property owners regarding additional currently closed locations. Upon reopening, guests at both locations can expect many of AMC's most popular amenities, including enhanced food and beverage offerings, and AMC Stubs, a world class loyalty and subscription service that includes AMC Stubs A-List.

Roku, Inc. (NASDAQ: ROKU) recently announced an all-new feature film about the prolific career of Grammy-winning musician and pop cultural icon "Weird Al" Yankovic. Produced by Funny Or Die and Tango, WEIRD: The Al Yankovic Story will be available exclusively on The Roku Channel. Production on the biopic begins in Los Angeles in early February.

The Roku Original film will star Daniel Radcliffe in the titular role of "Weird Al" Yankovic. The biopic holds nothing back, exploring every facet of Yankovic's life, from his meteoric rise to fame with early hits like "Eat It" and "Like a Surgeon" to his torrid celebrity love affairs and famously depraved lifestyle. WEIRD: The Al Yankovic Story takes audiences on a truly unbelievable journey through Yankovic's life and career, from gifted child prodigy to the greatest musical legend of all time.

Liberty Media Corporation (NASDAQ: LSXMA) (NASDAQ: LSXMK) recently reported third quarter 2021 results.

"Across the board, our companies had an outstanding third quarter. The Atlanta Braves convincingly claimed their first World Series title since 1995. Congratulations to the team, Braves management and all of Braves Country! SiriusXM posted record self-pay subscriber growth and increased guidance across all metrics. Our ownership in SiriusXM now exceeds 80%, and all future distributions from SiriusXM will be tax-free. Formula 1 set a record with US Grand Prix attendance over 400,000 for the weekend and is enjoying a suspenseful championship," said Greg Maffei, Liberty Media President and CEO. "It's amazing how much progress has been made over the past year given the challenging environment, and I am truly grateful for the hard work and dedication of all these team members to produce such impressive results."

Netflix, Inc. (NASDAQ: NFLX) recently announced it will post its fourth-quarter 2021 financial results and business outlook on its investor relations website at http://ir.netflix.net on Thursday, January 20, 2022, at approximately 1:00 p.m. Pacific Time. At that time, the company will issue a brief advisory release via newswire containing a link to the fourth-quarter 2021 financial results and letter to shareholders on its website.

A video interview with Netflix co-CEO Reed Hastings, co-CEO & Chief Content Officer Ted Sarandos, Chief Financial Officer Spence Neumann, COO & Chief Product Officer Greg Peters and VP, IR & Corporate Development Spencer Wang will be available at 3:00 p.m. Pacific Time. The discussion will be moderated by Nidhi Gupta, Fidelity Management & Research Co., with questions submitted via email.

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