Entertainment & Media Revenue to Hit $1.7 Trillion by 2029

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  Media and Entertainment on Wed, Jan 14th, 2026 by Deadline.com
      Locales: UNITED STATES, UNITED KINGDOM, CANADA

Thursday, January 15th, 2026 - A new report from PricewaterhouseCoopers (PwC) paints a picture of a rapidly evolving and increasingly lucrative global entertainment and media industry. The "Global Entertainment & Media Outlook 2024-2029" forecasts a staggering $1.7 trillion in global media revenue by 2029, fueled by the continued dominance of streaming services and a significant rebound in advertising spend. This surge represents a remarkable period of growth, significantly reshaping how content is created, distributed, and consumed worldwide.

A Projected Boom: Numbers and Growth Rates

The report's key takeaway is a projected compound annual growth rate (CAGR) of 6.1% between 2023 and 2029 for the overall entertainment & media sector. This robust growth translates to a substantial increase in overall spending, rising from $2.6 trillion in 2023 to a projected $3.5 trillion by 2029. While substantial, these numbers underscore the industry's dynamism and its enduring appeal across diverse demographics and geographies.

Streaming: The Unstoppable Force

The primary driver behind this growth is undeniably streaming. PwC anticipates that revenue from streaming services, encompassing both the subscription-based (SVOD) model exemplified by platforms like Netflix and Disney+, and the advertising-supported (AVOD) model increasingly popular with services like Tubi and Pluto TV, will skyrocket. Revenue is forecast to leap from $311 billion in 2023 to $491 billion by 2029, a compelling 9.8% CAGR. This indicates that consumers are increasingly embracing digital content consumption, a trend that's only expected to accelerate with improvements in internet infrastructure and device accessibility worldwide.

Advertising Rebounds, Driven by Digital

While concerns about advertising spend have occasionally surfaced in recent years, the PwC report signals a positive turnaround. Advertising is projected to reach $761 billion by 2029, a significant increase from the $644 billion recorded in 2023. This rebound is primarily driven by the continued migration of advertising dollars towards digital platforms, reflecting shifting consumer behavior and the increasing effectiveness of targeted advertising campaigns. Social media advertising, influencer marketing, and connected TV (CTV) advertising are all expected to contribute significantly to this growth.

Traditional Media Grapples with Change

The report doesn't paint a uniformly positive picture. Traditional media formats - linear television and print - face undeniable challenges. Linear TV revenue is predicted to decline, despite remaining a significant source of entertainment and advertising revenue in the short term. Print advertising and circulation, already struggling for years, continue to face headwinds as readers and advertisers increasingly move online. The legacy media companies are being compelled to find new revenue streams and distribution methods.

Adaptation and Hybridization: The Path Forward

However, traditional media companies aren't simply disappearing. The report highlights a crucial trend: the adoption of "hybrid strategies." These involve combining traditional linear offerings with digital platforms to reach a wider audience and cater to evolving consumer preferences. This also includes diversification of content, moving beyond traditional news and entertainment to encompass gaming, esports, and other emerging forms of digital engagement. The rise of esports, in particular, is highlighted as a significant opportunity for investment and growth, attracting a younger, digitally native audience.

Global Scope and Future Considerations

PwC's comprehensive analysis encompasses 34 entertainment and media categories across 192 countries, providing a nuanced view of the global media landscape. Beyond the headline numbers, the report also hints at potential challenges. Increasing competition within the streaming market, potential regulatory scrutiny of data privacy and content distribution, and the ongoing need to innovate and adapt to rapidly changing consumer technology are all factors that could impact the industry's trajectory. The report's insights offer valuable guidance for media companies, investors, and policymakers as they navigate this dynamic and increasingly complex entertainment and media landscape.