Largest Media & Entertainment industry in the world
Total value of the US Media & Entertainment industry in 2020
About the US Media Sector
The US is home to the largest media & entertainment (M&E) industry in the world. It makes up a third of the global media & entertainment industry and includes motion pictures, television programs and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and products.
According to the ITA, the global M&E industry is a $2 trillion market, of which the US makes up $660 billion as result of a ~7% decline during the pandemic. However, the industry is predicted to reach more than $825 billion by 2023 according to the 2018-2023 Entertainment & Media Outlook by PriceWaterHouseCoopers.
The sector includes some of the largest media conglomerates in the world such as Facebook, The Walt Disney Company, FOX Corporation and Netflix.