Entertainment and Media: How to Prepare for the Global Market Transformation With Media Monitoring

Entertainment and Media: How to Prepare for the Global Market Transformation With Media Monitoring

Times are changing worldwide and the entertainment and media (E&M) industry is no stranger to this circumstance. After a strong upswing fuelled by the recovery of global economies following the Covid pandemic, the pace of growth in the E&M sector is expected to slow down in the upcoming years (PWC, 2023). In 2024, global revenue will increase by 4.2%, to USD 2,528 billion – compared to 10.6% in 2021. By 2027, the revenue rate is forecast to grow by just 2.8%.

Hence, it is time for companies all around the globe to start planning ahead, seize opportunities that rise on their horizon and adapt their business strategies accordingly to avoid being left behind.

Advertising is King

One of the things that will change in E&M is the power of advertising in the global market. By 2025, advertising will excel consumer spending, which was the largest E&M category until then. The tendency is set to continue with global advertising revenue rising from USD 888 billion in 2025 to USD 953 billion in 2027 (PWC, 2023).

International companies have to increase their efforts to reach the audience. With consumer habits strongly connected to digital products and services, online advertising will by far remain the major force (USD 562 billion in 2024), followed by TV advertising, which will is expected to score a global revenue of USD 160 billion.

That being said, the battle for customers and their attention at the time of purchase or decision making increases with the emergence of more and more new players in the industry, but so do the profits.

Streaming Services’ Popularity Goes Up

The popularity of streaming platforms offering digital video and audio such as Youtube or Spotify will further expand globally in the following years. The ease, convenience, and diversity of digital formats make them a favoured way of the audience for consuming content.

With global streaming services becoming more abundant, competition between digital and traditional broadcast will also increase. As a consequence, traditional TV and radio need to adapt to new technologies and younger generations. Recently, for example, some TV programs have launched their own Youtube channels and have therefore managed to expand their audience and gain popularity.

Moving Forward by Taking Advantage of New Opportunities

The transformation of E&M will have an impact on businesses and professionals working with media content and information all around the globe. So, clearly, treading water is not a good business strategy.

While businesses develop powerful advertising campaigns trying to reach their audience in a wide range of digital and traditional media, professionals need advanced tools in order to keep an eye on the efficacy of their actions. Among the services available to analyze data and prove the value of their efforts, media monitoring solutions are a valuable strategic partner which allows:

  • Tracking any advertising campaigns so businesses can control and manage them efficiently.
  • Observing competitors in order to understand their strategies and how their reputation develops over time.
  • Monitoring your business, brand or industry.
  • Monitoring a comprehensive range of media sources, from digital to traditional broadcast media.

Worldwide, professionals need to adapt to the changes of E&M and the preferences of the audience. With eMedia Monitor (eMM), customers can leverage global media data from traditional TV and radio as well as from the popular digital sources such as Youtube, podcast, web text, and web TV to make well-informed decisions.

With our extensive media coverage, any information published in the media is at your fingertips: industry insights and changes, forecasts, competitors, information about your own company, advertising campaigns and more.

Are you ready to face the changes in the entertainment and media market? Contact us and we will create a media monitoring plan tailored to your unique needs.

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