For 26 years, we have been charting the growth and expansion of the highly dynamic entertainment and media (E&M) industry. In 2024, according to PwC’s Global Entertainment & Media Outlook 2025–2029, revenues rose by 5.5% to US$2.9 trillion, from US$2.8 trillion in 2023. Looking forward, we project that total E&M revenue will increase over the next five years at a compound annual growth rate (CAGR) of 3.7%, to reach US$3.5 trillion in 2029. The rate of growth will slow, to be sure. But this highly resilient sector will continue to expand steadily amid seismic technology changes as user engagement becomes more intense—and the sector’s growth rate will exceed that of the global economy. There will be US$577 billion in incremental new revenues by 2029.
The digital media drive
A look at the top five fastest-growing and the five fastest-declining E&M metrics over the next five years reveals how value is in motion in this industry. As the chart below shows, internet advertising—whether generated from pure-play sources or from digital advertising revenues associated with other segments, such as ad-supported video-on-demand (AVOD) from companies like Netflix, Disney+ and Amazon Prime—dominates at the top end. Several of the fastest-declining metrics, including physical PC games and print advertising in magazines, have roots in physical media.
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Global Telecom and Entertainment & Media Outlook 2025–2029
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