Global revenue for the entertainment and media sector is expected to reach $3.5 trillion by 2029, according to PwC’s latest Global Entertainment & Media Outlook.
The report highlights a 3.7% compound annual growth rate, driven by increasing adoption of artificial intelligence in advertising, as well as ongoing contributions from live events and other non-digital areas.
Despite economic pressures such as inflation and changing trade policies, advertising remains a key source of growth, particularly as more consumers limit discretionary spending on subscriptions and cinema.
PwC predicts digital advertising formats, which made up 72% of ad revenue in 2024, will account for 80% by 2029, with AI-powered personalisation further accelerating digital engagement.
Ad revenue from connected television is forecast to reach $51 billion, and global video games sales are set to climb to $300 billion by 2029.
PwC’s Bart Spiegel said: "The E&M industry has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content."