Entertainment Industry Overview
The global media industry was worth $1.15 trillion in 2018. The US media and entertainment industry generated $660 billion in 2020, the largest globally. It declined 7.3% due to the pandemic.
The film industry produces thousands of movies annually, raking in billions. Hollywood is the oldest, largest, and most profitable. The US had the largest filmed entertainment revenue in 2018 at $32 billion. China followed at $15 billion.
Gaming is the biggest entertainment industry, now worth over $145 billion globally. It grows every year.
Streaming has disrupted entertainment, changing how we consume it. We can now binge watch shows whenever we want.
Sports generates income from tickets, broadcasting, sponsorships and makes this sector consistently high grossing.
Publishing remains vital for entertainment revenue from books, magazines and papers. It contributes to education and culture.
Walt Disney Company Overview
What is the largest entertainment company in the world? The Walt Disney Company is the biggest entertainment company. Disney’s media and entertainment division generated $55 billion in 2022. This includes television, cable channels, and Disney+.
Disney’s market capitalization is $238.9 billion. Disney makes more money from media and entertainment than other areas. Some companies like Apple are larger than Disney. Apple’s market capitalization is over 10 times larger at $2.7 trillion.
In 2021, Disney held over $200 billion in assets. Major entertainment companies use storytelling and technology. Disney has won 135 Academy Awards across the industry.
The 10 biggest public entertainment companies by revenue include ViacomCBS and Disney. Walt Disney founded the company in 1923. Now Disney is one of the most successful entertainment firms. Disney ranked 53 on the 2022 Fortune 500 list. The company owns over 25,000 acres of land for theme parks, including the Magic Kingdom in Florida.
Video Game Industry vs Hollywood
Is the video game industry bigger than Hollywood?
The gaming industry is now worth over $145 billion globally. It grows every year. The video game industry is massive. In 2017, the U.S. game industry as a whole was worth US$18.4 billion.
When did the video game industry overtake Hollywood? In 1982, the arcade video game industry reached its peak, generating $8 billion in quarters, surpassing pop music ($4 billion) and Hollywood films ($3 billion) combined.
The video gaming industry is already bigger than Hollywood and the music industry combined with over two billion gamers worldwide. That equates to 26% of the world’s population.
The growth rate of the gaming industry from 2006 (USD 8 billion) to 2020 (USD 160 billion) is higher than other entertainment industries.
In the year 2020 alone, the video gaming industry is expected to accrue well over $165.3 billion, and has potential to go even higher. eSports took the initiative to dedicate a tab for viewing pleasure realizing that a big majority of people who view professional eSports use it. This feature garnered over 3 billion hours watched.
A comparison from 2008 shows the biggest movie made $40 million in the first week while the biggest game made $310 million. Video games market surpasses music and movies combined.