DUBLIN–(BUSINESS WIRE)–Oct 12, 2020–
The “Motion Picture Industry by Genre, Demographics and Dimension: Global Opportunity Analysis and Industry Forecast, 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
The global entertainment industry is growing steadily, with China, India and Southeast Asian countries outperforming the average growth. These countries are amongst the world’s youngest nations with more people under the age of 25. Rise in disposable incomes along with favorable demographics have resulted in increased propensity to spend on entertainment and leisure. With the expansion of theatres, markets in countries such as India, China, and others South East Asian nations are surging.
Growing middle class increasing per capita income, and working population are all together generating colossal domestic demand for leisure services – including entertainment. Players operating in the region are rapidly diversifying their offerings beyond their traditional domains; thus, leveraging synergies and building presence across diversified segments of the entertainment industry. Globalization of the motion picture industry, along with emergence of multiple entertainment options supplemented by relative easy access to capital have been some of the key growth factors that are driving the global motion picture market across geographies.
Uncertainties about current and future economic conditions might dissuade foot fall amongst multiplexes. The COVID-19 outbreak results in widespread economic crisis around the world. Emergence of an alternate platforms such as Netflix and Amazon Prime coupled with piracy of films act as major challenges for the engaged stakeholders.
Recent years have seen uprising of the online crowdfunding platforms. IndieGoGo was the first major platform which was launched in the year January 2008 however new crowdfunding platforms such as Kickstarter, Seed & Spark, Slated, The Bottom Line, have been launched owing to increasing popularity amongst stakeholders .One of the biggest crowdfunded movie in recent years is the Veronica Mars movie, which raised about