Perspectives from the Global Entertainment & Media Outlook 2021-2025
For entertainment and media companies around the world, the past 18 months have been a period of remarkable uncertainty and challenge. The well-known forces that were changing our world—digitisation, globalisation, disruption, shifting consumer habits and demographics—were amplified by a powerful new one, the first global pandemic in a century.
Source: PwC’s Global Entertainment & Media Outlook 2021–2025
The most obvious—and most global—of the drivers of change in E&M is the migration to digital consumption. As consumers stayed home and in-person venues shut down, the use of in-home digital services soared. Movie theatre box- office revenues fell 71% in 2020, even as Netflix attracted a record 37mn net additional subscribers, pushing its subscriber rolls past 200mn. Historically, rising digitisation was a challenge, as analogue dollars were frequently replaced by digital dimes. But in 2020, consumers’ embrace of all things digital helped offset sharp revenue losses across the broader global E&M sector.
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