The U.K. will maintain its position as the leading entertainment and media market in Europe over the next four years, ahead of Germany and France, according to PwC’s Global Entertainment & Medi…
U.K. E&M revenue is expected to reach £85 billion this year with growth forecast at a compound annual growth rate of 4% over the next four years to generate revenue of £100 billion overall by 2027. The report predicts that the next biggest European E&M markets – Germany, which is expected to reach £83.1 billion in 2023 and France, set to touch £54.6 billion in 2023 – will grow to £90.8 billion and £61.1 billion by 2027 respectively.
Cinema will continue its post pandemic recovery growth over the next four years at 7% CAGR, with box office revenues expected to exceed pre-pandemic levels by 2025 at £1.3 billion. The growth of data services will more than double as annual data consumption rises from 158,000 petabytes in 2022 to 415,000 in 2027. This is linked to greater consumption of streaming services, social video platforms and broadcast VOD services, which will together account for 36% of all data consumption in 2027.
The Virtual Reality market revenue in the U.K. is set to increase from £1.3 billion in 2023 to £2 billion in 2027 at 10% CAGR. VR within video gaming is growing at 22% per annum from 2022 to 2027, supported by new games releases. Between 2022 and 2027 the U.K.’s installed base of VR headsets is forecast to grow from 1.7 million to 4.2 million units.
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