New York, March 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Media Global Market Report 2022" - https://www.reportlinker.com/p06243814/?utm_source=GNW
The global media market is expected to grow from $1989.55 billion in 2021 to $2232.62 billion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $3680.46 billion in 2026 at a CAGR of 13.3%.
The media market consists of sales of television and radio programs, motion pictures, digital content, and commercials along with video and audio recordings, games, and publications by entities (organizations, sole traders, and partnerships) that produce and distribute television and radio programs, motion pictures, and commercials along with video and audio recordings, games, and publications. Examples of revenues are license fees, subscriptions, and payments for advertising.
The main types of media are tv and radio broadcasting, film and music, information services, web content, search portals, social media, print media, cable, and other subscription programming.Print media refers to paper publications that are being circulated in the form of physical editions of books, magazines, journals, and newsletters.
The different revenue models include subscription, advertisement, sponsorship, others and involve various applications such as wired, wireless.
North America was the largest region in the media market in 2021.Africa is expected to be the fastest growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create a potential impact on audiences.Live events such as sports and music are expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment.
For example, NextVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate.It also partnered with an events company Live Nation to broadcast live music to music fans worldwide.
The rise in demand for VR content is expected to drive the market going forward.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the media markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally.COVID 19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing.
The virus was first identified in 2019 in Wuhan, Hubei province of the People’s Republic of China, and spread globally including Western Europe, North America, and Asia.Steps by national governments to contain the transmission have resulted in a decline in economic activity and restricted movement of goods and services with countries entering a state of ’lock down’.
The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the media market will recover from the shock across the forecast period as it is a ’black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy
Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost-effective, lightweight, and reduce risks associated with cranes and cable cams during filmmaking.Autonomous drones are flying gadgets equipped with multiple rotors, a built-in high-resolution camera, and algorithms for capturing videos and pictures.
It offers a 360-degree experiential recording experience with minimum human intervention.They are used to capture aerial shots, taking footage and images without having a cameraman on an actual helicopter.
For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu, and EHANG.
The countries covered in the media market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela and Vietnam.
Read the full report: https://www.reportlinker.com/p06243814/?utm_source=GNW
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