The Global Entertainment & Media (E&M) Revenue Projected To Reach US$2.6 Trillion In 2025
PALM BEACH, Fla., Nov. 22, 2021 /PRNewswire/ -- FinancialNewsMedia.com News Commentary - More than a year into the most globally disruptive event of most consumers' lifetimes, COVID-19 remains the unavoidable force driving the dynamics of the media and entertainment industry. Although uncertainty persists due to varied vaccination rates and the risk of resurgent waves of infection from new variants of the disease, we forecast that the combination of vaccines and more developed virus control systems should support a tentative return to normal for most developed nations in the second half of the year. For the media and entertainment industry, consumers' desire to once again enjoy live music and cinema will be tempered by caution and ongoing venue capacity limitations. Habits accrued during long periods of lockdown and restrictions will remain embedded, and trends already developing prior to the pandemic – namely a growing shift towards digital products and online sales – accelerated by years. And while sectors like cinema, live music, and trade shows suffered unprecedented setbacks, the persistent growth of digitization softened the blow for the broader industry. A recent report from PwC said that The global entertainment & media (E&M) industry has regained its momentum, with revenues outpacing the economy as a whole. The $2+ trillion industry is on track to grow 6.5% in 2021 and 6.7% in 2022, fueled by strong demand for digital content and advertising. "From 2021 to 2025, we project global E&M revenue to grow at a healthy compound annual growth rate (CAGR) of 5.0%, taking industry revenues to US$2.6trn in 2025… Traditional TV/home video remains the largest E&M consumer segment (US$219.0bn). Active Companies in the markets today include Grom Social Enterprises, Inc. (NASDAQ: GROM), Target Corporation (NYSE: TGT), Amazon.com, Inc. (NASDAQ: AMZN), Mattel, Inc. (NASDAQ: MAT), Walmart Inc. (NYSE: WMT).
It continued: "As more global regions emerge from lockdown and see increasing rates of vaccination, a forecast year-on-year rise of 6.5% in 2021 and a further 6.7% rise in 2022 will help drive total global E&M revenue to increase at a 5.0% five-year CAGR. It concluded with a quote from Werner Ballhaus, Global Entertainment & Media Industry Leader Partner, PwC Germany, who said: "The pandemic slowed the entertainment and media industry last year, but it also accelerated and amplified power shifts that were already transforming the industry. Whether it's box office revenues shifting to streaming platforms, content moving to mobile devices, or the increasingly complex relationships among content creators, producers and distributors, the dynamics and power within the industry continue to shift. Our Outlook shows that the hunger for content, continued advances in technology and new business models and ways of creating value will drive the industry's growth for the next five years and beyond."
Grom Social Enterprises, Inc. (NASDAQ: GROM) BREAKING NEWS: Holiday Season Officially Underway as Grom Social Enterprises' Newest Division - Curiosity Ink Media - Unwraps Santa.com Today - Grom Social Enterprises, Inc., newest subsidiary and the company's engine for original multiplatform family entertainment – Curiosity Ink Media – today unwrapped Santa.com, the company's online digital holiday hub designed to bring users the fun and excitement of Christmas through content aimed at easing the stress and maximizing the overall enjoyment of the season. Brimming with escapist fare alongside tips on holiday entertaining, gift-giving, holiday décor, family fun and more, the site will continually refresh throughout the holidays with content for kids and grown-ups alike. Due to historic global supply-chain delays and logistical delivery challenges, Santa.com will postpone the rollout of its full e-commerce activation until 2022.
"Now more than ever, the world needs a break, so we are thrilled to unveil Santa.com, a digital holiday destination that provides a surefire way to maximize your holidays with family and friends," explains Curiosity Ink Media's CEO, Jared Wolfson. "Everyone can delight in how Santa.com inspires more joy during the holidays and with even more enhancements planned annually, our goal is to make Santa.com an essential family holiday tadition.
Visitors to Santa.com can access a treasure trove of holiday-themed content, all of which underscores the magic of the holidays. From Mrs. Claus's favorite recipes to classic traditions, hosting tips, to setting the tone through curated holiday playlists, the site blends fresh editorial content, eye-catching graphics, original animation, and even mirthful holiday-themed boxing videos that preview how elves assemble gifts in their North Pole workshop. Additionally, the site will direct users to one-of-a-kind holiday gift ideas from various suppliers including Christmas at the Biltmore, a designer coffee table book detailing the iconic Biltmore estate in North Carolina's Blue Ridge mountains and its annual Christmas celebrations.
For kids, beginning December 6th, Santa.com will capture the fun and anticipation of the holidays through an immersive map of the North Pole, themed interactive games, mobile content and daily time-released content that counts down the days to Christmas. CONTINUED… For more information about Grom Social Enterprises please visit https://gromsocial.com/
Other recent developments in the markets include:
Target Corporation (NYSE: TGT) recently announced its third quarter 2021 financial results, which reflected growth in both sales and profitability on top of record increases a year ago. The Company reported third quarter GAAP earnings per share (EPS) of $3.04, up 51.6 percent from $2.01 in 2020. Third quarter Adjusted EPS of $3.03 grew 8.7 percent compared with $2.79 in 2020. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS.
"The consistently strong growth we're seeing in our business, quarter after quarter, is a testament to the passion and commitment our team brings to serving our guests, and the trust we've built with them as a result," said Brian Cornell, chairman and chief executive officer of Target Corporation.
Amazon.com, Inc. (NASDAQ: AMZN) recently announced that more Black Friday deals than ever before will be available starting on Thursday, November 25. Customers will be able to shop incredible deals with deep discounts on top products and must-have items, including new gadgets and electronics from Samsung; kid-favorite toys and baby essentials from Mattel and Cybex gb Pockit; must-have home and kitchen items from Instant Pot; seasonal fashion finds, including rag & bone from Shopbop; and beauty favorites from Sunday Riley, OPI, Color Wow, and many more. In addition, customers can find thousands of deals from Amazon's independent selling partners, most of which are small and medium-sized businesses, throughout Amazon's 48-hour Black Friday event, including deals from women-owned, military family-owned, and Black-owned businesses.
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon.
Mattel, Inc. (NASDAQ: MAT) recently announced the launch of Hot Wheels NFT Garage™ - Series 1 to bring Hot Wheels® fans a new way to add to their collection, in partnership with The Worldwide Asset eXchange (WAX). The Hot Wheels NFT Garage continues to grow with the release of 40 new NFT Hot Wheels designs for fans and collectors alike on November 16. These digital collectibles are the newest way to take home valuable and rare digital artwork from Hot Wheels, while also offering fans the chance to own limited-edition real-life die-cast vehicles when they collect select NFTs. The Hot Wheels NFTs will be released globally starting at the affordable price of $15 November 16, 2021.
Hobbyists can collect some of the most incredible Hot Wheels designs to date, inspired by the same brilliant designers behind iconic Hot Wheels die-casts. The NFTs, which feature a range of digital vehicles with exclusive animated packaging, are available in standard 4-card and premium 10-card packs and consist of soon-to-be sought-after variations that will offer distinct designs ranging across four tiers: Base, Rare, Premium, and NFTH (Treasure Hunt).
Walmart Inc. (NYSE: WMT) The future of instant deliveries in Northwest Arkansas is looking up as Walmart and Zipline recently announced the launch of its much-anticipated instant delivery service in Pea Ridge, Ark. The new service will make on-demand deliveries of select health and wellness and consumable items from the Walmart Neighborhood Market in Pea Ridge, Ark.
"Zipline's autonomous aircraft present an incredible opportunity to offer customers an on-demand delivery option for the items they need now, such as a thermometer, non-prescription medication or an emergency pack of diapers," said Tom Ward, senior vice president, Last Mile Delivery, Walmart U.S.
"Even more, Zipline's aircraft can help provide immediate access to needed items for both hard-to-reach and at-risk populations, such as rural communities and elderly customers. By bringing this game-changing technology to the rural community of Pea Ridge, Arkansas, we're continuing to look for ways to make shopping with Walmart convenient and easy – for everyone."
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