Document Type
Article
Publication Date
3-2025
Recommended Citation
Granados, Nelson; Zwagerman, Amy; and Oliver, DeJuan, "The MEDIA Report: Media & Entertainment Data In America 2019 to 2025" (2025). Pepperdine University, Graziadio Working Paper Series. Paper 35.
https://digitalcommons.pepperdine.edu/graziadiowps/35
Comments
The media and entertainment industry[1] demonstrated remarkable resilience and growth amidst a maelstrom of market forces over the 5 years from 2019 to 2023. Most significantly, it bounced back from a worldwide shutdown in 2020 to generate $607.3 billion in revenue in 2021, up 10.4% year-over-year. In 2023, the industry saw an increase of nearly 2 million employees, representing a 2.4% rise from 2022. Additionally, industry revenues reached $620.7 billion in 2023, marking a 2.1% year-over-year increase. Consumer and advertising spending also grew to $562 billion, which is a 3.2% increase from 2022. Also, digital business models proliferated in the face of shifting consumer demand: sales of over-the-top (OTT) video content grew an average of 25.2% annually over that period. Currently, the industry is also facing a future where generative artificial intelligence (Gen AI) will forever change how content is created, distributed, and consumed. Production and publishing revenues are expected to hit $648 and $677 billion by the end of 2024 and 2025, respectively (up 4.4% and 4.5% year-over-year), while total consumer and advertising spend is expected to reach $599.1 in 2024 and $621.7 billion in 2025, respectively (up 6.6% and 3.8% year-over-year). Looking forward, the forecast for employment growth is +2.9% in both 2024 and 2025, resulting in over 2.1 million industry jobs by the end of 2025.