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The global movie production market size is estimated to grow by USD 56.11 billion, at a CAGR of 10.76% between 2023 and 2028. The global box office is experiencing increasing popularity, bolstered by the widespread use of animation and digital transformation in movie production processes. Animation plays a pivotal role in enhancing the appeal and success of films, attracting diverse audiences through visually captivating storytelling. The adoption of digital technologies has revolutionized movie production, streamlining workflows, enhancing visual effects, and expanding creative possibilities. These advancements not only improve efficiency and cost-effectiveness but also enable filmmakers to push the boundaries of storytelling and visual spectacle. As the entertainment industry embraces digital transformation, the synergy between animation innovation and technological integration continues to drive box office success worldwide, catering to evolving audience preferences and expanding global market opportunities in cinema.
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The market share growth by the English segment will be significant during the forecast period. Key vendors such as Warner Bros, Walt Disney, and others produce various English movies. Walt Disney Studios has a film library that comprises 5,100 live-action and 400 animated movies, covering approximately 100 years of movie production history in addition to acquired film libraries. The English segment was the largest and was valued at USD 39.47 billion in 2018. Also, English movie production vendors have been adopting technically advanced tools and cameras. For instance, 360-degree videos are clips used for displaying a spherical scenario where the camera records all possible angles of the movie set. Virtual reality and 360-degree video content are the latest advances in digital content after 3D, four-dimensional (4D), and five-dimensional (5D) technologies. VR is the latest trend in the digital entertainment sphere and is being widely deployed in various English movies. Thus, such advancements will drive the English segment of the market during the forecast period.
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Based on the genre, the market has been segmented into drama, action, comedy, and thriller and others. The drama segment will account for the largest share of this segment.?
North America is estimated to contribute 41% during the forecast period.
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Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the forecast period. The film industry is one of the major industries in North America, with the US being not only the major country in the region but also one of the key countries globally for movie production. Although over-the-top (OTT) platforms are witnessing a surge in viewership and subscribers due to the increasing penetration of the Internet, the number of people still visiting theaters is relatively high, thus contributing to the growth of the regional market.
Furthermore, the region has the presence of various leading vendors, such as Walt Disney, Paramount, Lions Gate, and Annapurna Productions. In addition, as of October 2022, Walt Disney had approximately 2,200 produced and acquired film titles that are actively distributed in the home entertainment segment, including approximately 1,900 live-action titles and 300 animated titles. Thus, the presence of leading vendors significantly adds to movie production activities in the region. This, in turn, will drive the growth of the regional market during the forecast period.
The market encompasses a diverse landscape, spanning from DTH (Direct-to-Home) platforms to a wide array of regional and international content, including Chinese movies & music, Japanese movies & music, South Korean movies & music, Philippines movies & music, Vietnamese movies & music, and Australia movies & music. This sector caters not only to general entertainment movies but also includes a rich variety of TV shows. As consumer preferences evolve, there is a growing demand for high-quality productions across these genres, facilitated by advancements in digital distribution and DTH services. Producers and studios are leveraging global cultural influences and technological innovations to deliver captivating content that resonates with audiences worldwide, thereby shaping the dynamics of the global movie production industry.
The growing popularity of the global box office is notably driving the market growth. Filmmakers are targeting the international audience and helping the market gain more prominence than local or regional movie production markets. For instance, Hollywood is the largest film industry in the world, generating more than 70% of its revenue from the international market. In addition, the global box office encourages local box offices to produce movies that experiment with different genres and themes, thereby attracting more investments.
In addition, several European and other films broke box office records between 2022 and the first half of 2023. For example, Palme dOr-winner (in the Best Picture category) Triangle of Sadness, directed by Ruben Ostlund, brought in over USD 25 million from 40 international markets, while James Cameron's Avatar: The Way of Water became the highest-grossing film ever in the Europe and MEA with nearly US 800 million at the box office. Thus, the growing popularity of the market during the forecast period.
The rising popularity of online video streaming services is an emerging trend shaping the market growth. Align with market trends and analysis, online video streaming is one of the fastest-growing segments in the global movie and entertainment industry. Video streaming service providers offer users different types of video content, such as movies, via the Internet without the need to download files. These service providers provide both premium as well as free services. The increasing investments by online movie streaming companies will result in the production of more content, which will create demand for movie production. Furthermore, video streaming companies have been launching free streaming services in various countries.
For instance, Amazon miniTV is a free video platform with an exclusive app and website, which was released in May 2021 by Amazon. It has an extensive selection of the newest, most popular, and most engaging content, including movies belonging to many different categories or genres. Thus, the strategies adopted by vendors of online video streaming services will attract more customers, which will drive the popularity of movies and, in turn, the growth of the market during the forecast period.
Technical issues in movie production are a significant challenge hindering market growth. The speed at which technology is changing is one of the biggest obstacles, as it can be challenging for movie studios to stay up-to-date with the most recent advancements. The creation and consumption of films are being altered by new technologies like virtual and augmented reality, and for studios to stay competitive, they must be prepared to make the necessary investments in these new technologies. Issues with the tools, the program, the structure, or the movie project delivery and timelines could come up.
Additionally, vendors should debug any problems that arise throughout the production process and obtain answers as quickly as possible. They will also find it beneficial to periodically backup data and keep it somewhere accessible and secure. This further adds to the cost of movie production companies. Thus, technical issues with movie production will negatively impact the market during the forecast period.
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Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Amazon.com Inc. - The company offers movie production solutions through its subsidiaries Amazon Studios and Metro Goldwyn Mayer.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including A24 Films LLC, Amazon.com Inc., Annapurna Productions LLC, Anonymous Content, Comcast Corp., Dalian Wanda Group, Dharma Productions Pvt. Ltd., Eros International Media Ltd., Lions Gate Entertainment Corp., Paramount Global, RatPac Entertainment LLC, Red Chillies Entertainments Pvt. Ltd., Sony Group Corp., Storyteller Distribution Co. LLC, Technicolor Creative Studios SA, The Walt Disney Co., UltraV Holdings LLC, Village Roadshow Ltd., Warner Bros. Entertainment Inc., and Yash Raj Films Pvt. Ltd.
Qualitative and quantitative analysis of market growth and trends of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified. Furthermore, market growth and forecasting it is also quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
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The Movie Production Market is undergoing a seismic shift with the advent of livemint platforms and the proliferation of online streaming services. 3D films and virtual reality (VR) experiences cater to millennials seeking immersive entertainment, while IPTV and digital cable redefine the way audiences consume content. Streaming platforms dominate the landscape, offering a plethora of movies and entertainment options for both residential and commercial viewers. From American movie theater chains to local production houses, diverse content finds its way onto social media platforms and smart devices.
Additionally, international markets, including Chinese, Japanese, South Korean, and Indian movies & music, are gaining traction, fueling online streaming market growth. Film distributors and production companies collaborate to meet the diverse mode of watching preferences, from cinema screenings to online streaming. Innovations like Squid Games demonstrate the power of creative writing and production houses in capturing global audiences. As digital newspapers and online music and movie sales continue to thrive, the movies and entertainment industry evolves, embracing new technologies and distribution models to captivate viewers worldwide.
Further, the market is a dynamic sector that integrates various forms of media and entertainment, from traditional television broadcasts to the digital realms of music & videos streaming. It encompasses a wide array of platforms including screens in American movie theaters, where audiences can experience 3D movies and other cinematic innovations. The industry thrives on collaboration among film studios, distribution companies, and broadcasters to bring diverse content to global audiences. With the proliferation of digital devices such as tablets, laptops, and mobile phones, consumers have unprecedented access to movies and shows anytime, anywhere. This digital transformation has reshaped how content is produced, distributed, and consumed, underscoring the evolving landscape of the movie production market.
Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2023 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 10.76% |
Market growth 2024-2028 |
USD 56.11 billion |
Market structure |
Fragmented |
YoY growth (%) |
10.01 |
Regional analysis |
North America, Europe, APAC, Middle East and Africa, and South America |
Performing market contribution |
North America at 41% |
Key consumer countries |
US, China, India, UK, and France |
Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
Key companies profiled |
A24 Films LLC, Amazon.com Inc., Annapurna Productions LLC, Anonymous Content, Comcast Corp., Dalian Wanda Group, Dharma Productions Pvt. Ltd., Eros International Media Ltd., Lions Gate Entertainment Corp., Paramount Global, RatPac Entertainment LLC, Red Chillies Entertainments Pvt. Ltd., Sony Group Corp., Storyteller Distribution Co. LLC, Technicolor Creative Studios SA, The Walt Disney Co., UltraV Holdings LLC, Village Roadshow Ltd., Warner Bros. Entertainment Inc., and Yash Raj Films Pvt. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, market research and growth, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Language
7 Market Segmentation by Genre
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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