The online entertainment market continues to grow at $1,500.6

According to a new report by Allied Market Research titled “Online Entertainment Market,” the online entertainment market was valued at $284.8 billion in 2023 and is estimated to reach $1500.6 billion by 2035, which corresponds to annual growth of 15% from 2024 to 2035.

Get a sample PDF of this report:

Online entertainment refers to entertainment over the Internet via smart devices such as smartphones, smart TVs, laptops and tablets. The increasing penetration of smartphones and the affordability of the Internet have led to a surge in online traffic, which is expected to drive demand for online entertainment content in the form of videos, audios, games, web radio and e-books.

The online entertainment market is segmented into form, revenue model, device and region. On the basis of form, the market is categorized into video, audio, games, internet radio and others. Among these, the video segment occupied the largest online entertainment market share in 2023 and is expected to maintain its dominance during the forecast period. This is mainly due to the increasing popularity of video content on various social media platforms such as YouTube, Instagram and Facebook. The development of the digital advertising industry promotes the growth of the online entertainment market due to benefits such as improved conversation with the audience, high conversion rate and brand awareness, which has increased the demands of the online entertainment market.

Additionally, OTT media services are contributing significantly to the growth of the market as OTT providers such as Netflix, Hulu, Disney+ and Amazon Prime Video are becoming increasingly popular in developing countries including India and China. Additionally, wide audience reach in developing countries, strong targeting capabilities and powerful analytics are predicted to provide potential growth opportunities for producers and distributors of online video content. According to Online Entertainment Market Outlook, analytics in the advertising sector is the practice of measuring, managing and analyzing marketing performance to maximize its effectiveness and optimize return on investment (ROI). Additionally, it helps customers understand what is intended to improve the effectiveness of digital advertising.

Furthermore, increasing compatibility of OTT media service with multiple devices such as smartphones, smart TVs, laptops and smart displays is increasing the demand for online video content, thereby driving market growth.

By revenue model, it is divided into subscriptions, advertising, sponsorship and others. Among these, the advertising segment occupied the largest online entertainment market share in 2023 and is expected to maintain its dominance during the forecast period. In recent years, the subscription-based revenue model has been used primarily for online business. This is attributed to the benefits associated with it, such as: Such as subscription-based pricing that attracts more customers, higher customer retention, easy distribution, wide scope for marketing, business consistency and smooth cash flow management.

Depending on the device, it is divided into smartphones; Smart TVs, projectors and monitors; laptops, desktops and tablets; and other. Among these, the smartphone segment held the largest online entertainment market share in 2023 and is expected to maintain its dominance during the forecast period. In recent years, smartphones have seen increasing adoption due to their portability and increasing utility. Large screen smartphones are used to enhance the experience of watching videos, streaming music, surfing the Internet and playing HD video games. Additionally, advances in smartphones and affordable internet are driving smartphone sales, which in turn fuels the growth of the online entertainment industry.

Additionally, emerging markets such as India and China are seeing huge demand for smartphones, which should provide potential growth opportunities for producers and distributors of online entertainment content. For example, smartphone sales in India rose to 231.5 million in 2022, compared to 102.4 million in 2016, according to the India Brand Equity Foundation.

Full Procurement Report (328 page PDF with insights, charts, tables and figures) @

Regionally, it is analyzed in North America, Europe, Asia Pacific, Latin America and MEA. Among these, North America accounted for the largest share of the online entertainment market in 2023 and is expected to maintain its dominance during the forecast period. According to online entertainment market trends, this is mainly due to the introduction of technological changes, availability of high bandwidth connections and high digital literacy. Additionally, over-the-top media services are gaining popularity in the North America region due to their associated benefits such as original and unique content, ease of use and compatibility with smartphones, contributing to the size of the online entertainment market.

Technological advancements in smart devices such as integration of smart displays and smart speakers continue to boost the growth of the online entertainment market in the region. The US dominates the online entertainment market in North America due to the advancements in various aspects such as graphics and experience that provide opportunities in the online entertainment market. Furthermore, the emergence of cross-platform gaming has proven to be extremely beneficial for players in the online gaming market. Therefore, the increasing popularity of OTT media services and online gaming is expected to boost the growth of the online entertainment market in the United States and increase the growth of the online entertainment market.

The players operating in the online entertainment market have made product launch and business expansion as their key development strategies to expand their market share, increase profitability and remain competitive in the market. The key players featured in this report include Amazon Web Services (AWS), Netflix, Inc., Google LLC, Facebook, Tencent Holdings Ltd, Sony Corp, King Digital Entertainment Ltd, Spotify Technology SA, Rakuten, Inc., and CBS Corporation.

Inquiry before purchasing @

Key results of the study

In terms of form, the video segment dominated the market in 2023.

Based on the revenue model, the advertising segment dominated the market in 2023.

On a device basis, the smartphone segment dominated the market in 2023.

At the regional level, North America dominated the market in 2023.

Reasons to Buy This Online Entertainment Market Report:

> Mergers and acquisitions should be well planned by identifying the best manufacturer.

> Match new customers or potential partners with the target group you are looking for.

> Suitable for providing reliable and high quality data and analysis to support your internal and external presentations.

> Develop tactical initiatives by better understanding the areas where large companies can intervene.

> Increasing and expanding business potential and reach, developing and planning licensing and licensing strategies by finding possible partners with the most attractive projects.

> Identify newcomers with potentially strong product portfolios and develop effective counter-strategies to gain a competitive advantage.

> To develop effective R&D strategies, collect information, analysis and strategic insights from competitors

Related reports:

Online gaming market

Action figure toy market

Educational toys market https://www.alliedmarketresearch.com/educational-toy-market-A07022

Contact:

David Correa
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
International: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
[email protected]
Web: www.alliedmarketresearch.com
Allied Market Research Blog:


Follow us on | Facebook | LinkedIn | YouTube |

About Us

Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides unmatched quality of “Market Research Reports” and “Business Intelligence Solutions” to global enterprises, medium and small businesses. AMR has a focused perspective on providing business insights and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market areas.

Pawan Kumar, the CEO of Allied Market Research, leads the organization in providing high-quality data and insights. We maintain professional business relationships with various companies and this helps us in identifying market data that helps us create accurate research data tables and confirms the highest accuracy of our market forecasts. All data presented in the reports we publish are extracted through initial interviews with top officials from leading companies in the relevant field. Our secondary data sourcing methodology includes extensive online and offline research and discussions with knowledgeable industry professionals and analysts

This press release was published on openPR.