Dublin, Feb. 24, 2021 (GLOBE NEWSWIRE) — The “Media Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.
Major companies in the media market include Google; Walt Disney; Time Warner Inc.; Facebook and Comcast Corporation.
The global media market is expected to grow from $1712.96 billion in 2020 to $1850.04 billion in 2021 at a compound annual growth rate (CAGR) of 8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $2670.66 billion in 2025 at a CAGR of 10%.
The media market consists of sales of television and radio programs, motion pictures, digital content, and commercials along with video and audio recordings, games and publications by entities (organizations, sole traders and partnerships) that produce and distribute television and radio programs, motion pictures, and commercials along with video and audio recordings, games and publications. Examples of revenues are license fees, subscription and payments for advertising.
North America was the largest region in the global media market, accounting for 33% of the market in 2020. Asia Pacific was the second largest region accounting for 29% of the global media market. Africa was the smallest region in the global media market.
Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost effective, light weight and reduce risks associated with cranes and cable cams during film making. Autonomous drones are flying gadgets equipped with multiple rotors, built-in high-resolution camera and algorithms for capturing videos and pictures. It offers 360-degree experiential recording experience with minimum human intervention. They are used to capture aerial shots, taking footages and images without having a cameraman on an actual helicopter. For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu and EHANG.
The outbreak of Coronavirus disease (COVID-19) has acted as a significant restraint on some of the media markets in 2020 as businesses were disrupted due to lockdowns imposed by governments globally.
The outbreak is expected to continue to have a negative impact on businesses throughout 2020 and into 2021. However, many media markets have been unaffected or benefited from this as they transmit their content remotely through digital channels. It is expected that the media market will recover from the shock across the forecast period as it is a ‘black swan’ event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create potential impact on audiences. Live events such as sports and music is expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment.
Key Topics Covered:
1. Executive Summary
2. Report Structure
3. Media Market Characteristics
3.1. Market Definition
3.2. Key Segmentations
4. Media Market Product Analysis
4.1. Leading Products/ Services
4.2. Key Features and Differentiators
4.3. Development Products
5. Media Market Supply Chain
5.1. Supply Chain
5.3. End Customers
6. Media Market Customer Information
6.1. Customer Preferences
6.2. End Use Market Size and Growth
7. Media Market Trends And Strategies
8. Impact Of COVID-19 On Media
9. Media Market Size And Growth
9.1. Market Size
9.2. Historic Market Growth, Value ($ Billion)
9.3. Forecast Market Growth, Value ($ Billion)
10. Media Market Regional Analysis
10.1. Global Media Market, 2020, By Region, Value ($ Billion)
10.2. Global Media Market, 2015-2020, 2020-2025F, 2030F, Historic And Forecast, By Region
10.3. Global Media Market, Growth And Market Share Comparison, By Region
11. Media Market Segmentation
11.1. Global Media Market, Segmentation By Type, Historic and Forecast, 2015-2020, 2020-2025F, 2030F, $ Billion
- TV And Radio Broadcasting
- Film And Music
- Information Services
- Web Content, Search Portals And Social Media
- Print Media
- Cable and Other Subscription Programming
12. Media Market Segments
12.1. Global TV And Radio Broadcasting Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – Radio Broadcasting; Television Broadcasting
12.2. Global Film And Music Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – Music Recording; Film And Video
12.3. Global Information Services Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – News Syndicates; Libraries And Archives; All Other Information Services
12.4. Global Web Content, Search Portals And Social Media Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – Social Media; Internet Search Portals; Digital Publishing And Content Streaming; Search Engine Optimization Services
12.5. Global Print Media Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion) – Directory, Mailing List, And Other Publishers; Book Publishers; Newspaper & Magazines Publishers
12.6. Global Cable and Other Subscription Programming Market, Segmentation By Type, 2015-2020, 2020-2025F, 2030F, Value ($ Billion)
13. Media Market Metrics
13.1. Media Market Size, Percentage Of GDP, 2015-2025, Global
13.2. Per Capita Average Media Market Expenditure, 2015-2025, Global
- Walt Disney
- Time Warner Inc.
- Comcast Corporation
For more information about this report visit https://www.researchandmarkets.com/r/wggwoi
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager email@example.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
Migrant worker battling cancer in urgent need of MSI
Halifax, NS (December 6, 2022) – In a video released today, migrant worker Kerian Burnett speaks out about her ongoing struggle with cancer. While she is supposed to start cancer treatments soon, she has no health coverage in Nova Scotia.
Kerian is a 42 year-old woman from Jamaica. She is a mother of 6 and grandmother to 2 children. In April 2022, she came to work in Canada through the Seasonal Agricultural Workers Program (SAWP). After 2 months of working on a strawberry farm, she fell sick and was unable to work. In September 2022, she was diagnosed with cervical cancer, which required two different surgeries. She was advised by her doctor to remain in Canada to undergo life-saving treatments.
In some provinces, migrant workers have access to public healthcare on arrival. In Nova Scotia, migrant workers must have a one-year work permit to be eligible for public healthcare (MSI). This means that SAWP workers are not eligible, because their contracts are only up to 8 months. They would only have access to private health insurance, which is tied to their employment.
Due to her illness, Kerian’s job ended and her private health insurance was terminated.
Kerian is calling on Health Minister Michelle Thomson to provide MSI coverage to herself and other migrant workers in Nova Scotia.
“There are lots of Jamaicans here and other migrant workers here, which come here for work. Nobody wants to be sick, but eventually, you get sick. Now we are working for like $13.35/hour. There is no way if you get sick, and you have a bill at the hospital, how are we going to pay these bills? So, actually, I’m not really doing this for myself alone. I’m doing this for every farmworker that doesn’t have access to public healthcare here in Canada,” said Kerian in the video.
To date, a GoFundMe campaign in support of Kerian has raised over $9,000 of the $15,000 goal.
Guelph drag queen sees all-ages shows targeted by social media campaigns
A Guelph drag queen says their shows are being targeted by two Ontario-based social media campaigns, resulting in the cancellation of one event and the performer feeling uneasy about an upcoming show.
Last month, Crystal Quartz had a drag brunch organized at Kelseys Original Roadhouse in Burlington. But following threats made to the restaurant, management was forced to cancel, the restaurant confirmed to CBC Kitchener-Waterloo. Restaurant management couldn’t disclose information about these threats due to an ongoing police investigation.
Since then, a link to Quartz’s Dec. 11 all-ages brunch at a Boston Pizza in Hamilton was shared in a Facebook group, asking members to purchase tickets to sell out the event in a bid to prevent “sick parents” from bringing their kids.
These incidents come shortly after a mass shooting at a LGBTQ nightclub in Colorado Springs, Colo., that killed five people, and have left Quartz feeling unsafe.
The drag queen posted an impassioned video on social media about the anti-LGBTQ threats that they, and other performers and promoters, have received.
Guelph Police Services are investigating the alleged incidents Quartz brought up in the video.
In the meantime, Quartz told CBC News they’re raising funds for an ID scanner, self-defence classes and said that they’re looking into other security options.
“I want to get an ID scanner so that even if the people come in there, we know what their names are at least,” said Quartz.
‘It was absolutely terrifying’
Hamilton drag performer, Hexe Noire, was also confronted during a drag storytime last month at a public library in the city.
There were people protesting the event, but also counter-protesters with a heavy police presence — something Noire hadn’t seen before.
“This is the first time in my drag career that I’ve been affected directly by this,” Noire, a cis woman, told CBC News. “It was absolutely terrifying.”
Noire explained she received online threats as well.
“I’m a mother with four children who goes into the library dressed as a drag clown to teach children about diversity and that it’s ok to be different,” she said.
“Had I had a program such as this for myself as a young queer child, I would have flourished and I don’t understand what the issue with reading books to children is.”
Quartz said that this type of harassment is new as the LGBTQ community becomes more visible and more mainstream.
“Before we were hiding who we were, right? So now we’re being seen more and these people just, they don’t want anything to do with that,” Quartz said.
“And that’s fine. If you don’t like me, that’s cool. Just go on your merry way and I’ll go on mine, right?”
But this harassment isn’t just aimed at drag queens, according to K-W-based trans activist, Cait Glasson. The transgender community is being targeted too.
“They’re definitely well and truly emboldened, the transphobic people,” said Glasson. “They are very emboldened. I get threats on my Twitter with some regularity.”
“My personal belief is that the best way to fix it is education,” she said, stressing that understanding about the trans community comes from knowing someone who is trans.
A study done of LGBTQ people in Waterloo region in 2018 found that 10 per cent of those surveyed have experienced violence due to their sexual orientation; 26 per cent faced violence due to their gender identity.
Heading Into 2023 Media And Tech Companies Are Tightening Their Belts
Over the past few months, Disney, Paramount
Global, Warner Bros. Discovery, Comcast
and AMC Networks
have all announced employment layoffs, hiring freezes and/or restructuring heading into 2023. Coming out of the pandemic the goal is to continue to grow revenue, reduce debt and increase market value. With viewers steadily migrating to streaming video, media companies have been looking for a moneymaking revenue model as the lucrative linear TV revenue model, that had generated billions for decades, is slowing down. With inflation and concerns about a slowing ad market, media companies, are looking to impress Wall Street as the media behavior of consumers continue to evolve.
These employee cutbacks are not limited to “traditional” media companies, such digital titans as Meta, Amazon
, Alphabet, Microsoft
and of course, Twitter have also been looking to drive down costs and grow revenue as the digital advertising slows and their market value declines.
Below is a breakout of some recent announcements on the belt tightening taking place across the media and tech industries.
AMC Networks: Ten years ago, AMC Networks was one of the most popular cable TV networks airing The Walking Dead, Breaking Bad and Mad Men. Since then, the cable TV industry has been besieged by cord-cutting as viewers migrated to streaming video. In response AMC launched its own standalone streaming service AMC+. In the latest quarter, AMC+ reported a year-over-year increase in subscribers of 44% and now totals 11.1 million. Nonetheless, for the quarter, AMC’s net revenue dropped by 16% to $682 million with a decline of 10% in ad dollars for the quarter.
AMC Networks Chairman James Dolan noted the revenue losses from cord cutting were not being offset by the gains from streaming. As a result, the Wall Street Journal reported AMC will lay off up to 20% of the estimated 1,000 total employees. Also, it was announced AMC CEO Christina Spade was stepping down after only three months at the helm.
Disney: In early November, Disney’s then CEO Bob Chapek announced cost-cuts (i.e., curtailing business trips unless absolutely necessary), a hiring freeze with potential layoffs. The announcement came in the aftermath of a disappointing quarterly earnings report with Disney’s stock price falling to a 52-week low. In the earnings report Disney noted their streaming services had lost $1.47 billion, more than double the loss from the previous year. Chapek maintained their streaming unit would be profitable by 2024. Ten days later Bob Iger, in a surprise announcement, returned as Disney’s CEO replacing his handpicked successor. Chapek had served as Disney’s CEO in February 2020 just prior to the start of the pandemic.
The 71-year-old Iger agreed to return as CEO for two more years and will look for another successor. Besides developing a new organization chart, Iger announced Disney’s hiring freeze would continue. The CEO will also place a priority on making Disney’s streaming unit profitability instead of focusing on subscriber growth. (In its latest earnings report Disney said that Disney+. Hulu and ESPN+ had 235.7 million global subscribers, up from 221 million in the previous quarter.)
Warner Bros. Discovery: When Discovery acquired Warner Media earlier this year, CEO David Zaslav shared with Wall Street plans to cut costs by $3 billion each year for the debt-ridden company. The merger approval came during a tenuous time, as investors were beginning to take a more hardened look at the revenue potential of streaming providers. In addition, Zaslav told investors the ad economy has been weaker than it was during the pandemic and the merger was messier than previously thought. As a result, the market value of Warner Bros. Discovery has been cut in half this year.
Since the merger Warner Bros. Discovery have undergone a sweeping series of layoffs. In August, 70 people were let go at HBO accounting for 14% of the entire staff. In October, the studio group Warner Bros. Television laid off 82 people which was 19% of the staff. Sports was impacted, in mid-November when an estimated 70 people, primarily at Turner Sports and Bleacher Report, were laid off. With the current NBA media rights contract expiring after the 2024-25 season and the possibility fees could triple, Zaslav has said they would stay disciplined when renewal negotiations begin, saying “We don’t need the NBA.”.
Most recently massive cuts were made at CNN with a reported 400 layoffs. While the direct-to-consumer CNN+ jettisoned within one month of launch, new CNN President Chris Licht announced further layoffs at the venerable news division. The layoffs were made across most CNN units from on-air talent to operations to CNN International. Among the CNN units hit hardest was Headline News which will no longer produce live content. Prior to the cutbacks CNN had a staff of between 4,000 and 4,500 workers.
Warner Bros. Discovery notified the Securities and Exchange Commission that it could cost upwards of $1.5 billion with cutbacks on content that were already approved and severance packages for employees laid off.
Comcast: In September, Comcast announced it was looking to cut $1 billion from its traditional TV networks entertainment division at NBCUniversal. The funding would be allocated to bolster other parts of Comcast’s portfolio such as streaming (with 15 million paid subscribers Peacock has room to grow).
The cutbacks would impact both staff members and programming budgets forcing the network to develop lower cost unscripted shows instead of more costly scripted programming. It’s been reported that 37 employees were laid off at E! Entertainment which was restructuring. NBCU has recently shuttered G4 cable network with 45 people losing their jobs. Additionally, Comcast has reportedly been offering retirement packages to long-time employees. Besides declining linear TV ratings, Comcast continues to be impacted by cord-cutting and broadband subscriber growth has been slowing.
Paramount Global: In November it was reported Paramount Global was cutting back on its ad sales department with fewer than 100 positions in New York and Los Angeles being eliminated. The media company has also made a number of organizational changes in recent months such as the scripted original division of Paramount+ becoming a part of Paramount TV studios resulting in a loss of jobs.
Roku, a streaming device, announced in mid- November they were planning to lay off 200 employees or about 5% of their 3.000 full-time workforce. The company cited the current financial conditions prevalent in the streaming industries and a sluggish ad economy. During its third quarter earnings report Roku executives told investors to expect a challenging fourth quarter.
: After reporting a decline in subscriber counts, Netflix earlier in the year announced layoffs. In May, 150 employees saw their position eliminated as well as a number of contractors and part-time workers. The following month Netflix followed up with 300 additional employers laid off. At that time Netflix had about 11,000 full-time workers worldwide.
Digital Media: Even digital media companies are pulling back in these uncertain economic times and sluggish earnings reports.
The mass layoffs at Twitter have been well documented, the micro-blogger site has downsized from 7,500 employees to fewer than 2,500 in just a few weeks.
In mid-November Amazon reportedly was going to lay off 10, 000 workers or roughly 3% of its 1.5 million global work force. Cutbacks will be more prevalent with devices such as Alexa.
In early November Meta announced 11,000 employees would be let go accounting or 14% of the entire workforce. The cutbacks were across all divisions and included Facebook, Instagram and WhatsApp. Also, Meta decided to move out of their 250,000 square foot office in Manhattan’s Hudson Yards section. Meta has been focusing on the metaverse and has been incurring startup costs.
In August Snap announced a reduction in their workforce of 20% from what had been 6,400 employers. Snap said the company would be restructuring. The company has been struggling post-pandemic and its stock price had been down 80% since the first of the year.
In October Microsoft announced globally nearly 1,000 workers were to be let go. Similar to other tech companies, Microsoft has seen its stock price tumble this year. Globally, Microsoft has 221,000 employees.
More traditional media are also reporting cutbacks. Gannett
, the nation’s largest newspaper publisher, announced that 200 additional workers (6% of the workforce) would be laid off. Washington Post recently announced that after three decades they would no longer publish a Sunday print magazine, resulting in a loss of ten positions. The last issue will be on Christmas Day. With a cutback in revenue from sponsors, NPR is looking to cut $10 million in costs (3% of their budget), announcing they would severely curtail any hiring and would cut back on any discretionary spending. By doing so NPR is hoping to avoid layoffs. Vice Media announced they will lay off 2% of their staff or roughly 12 members in its sales, branded content, editorial in the U.S., Canada and Europe.
Economic slowdowns and market valuations are transient and a hiring binge in media and tech companies could take place relatively soon as a workable business model evolves. Another silver lining is there are now thousands of experienced and talented workers now available for hire.
COVID-19 benefits helped economy rebound, but post-payment verification lacking: AG
Toronto Biennial of Art Appoints Curators – Galleries West
These are some of the advantages of childcare!
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Search for life on Mars accelerates as new bodies of water found below planet’s surface
Sports8 hours ago
Darnell Nurse sounds off on Edmonton Oilers slow starts after Stuart Skinner faces 50 shots
Art8 hours ago
Football and art come together in the first NFT exhibition of its kind
Economy23 hours ago
Personal Loans with the Lowest Interest Rates
Tech22 hours ago
Witcher 3’s Free DLC Update Doesn’t Have A Switch Release Date Yet
Science9 hours ago
After lunar flyby, NASA’s Orion spacecraft is set to splashdown on Sunday
Media7 hours ago
Guelph drag queen sees all-ages shows targeted by social media campaigns
Science7 hours ago
Using atomic clocks in space to solve dark matter mystery
Health9 hours ago
B.C. to start public push to get more kids vaccinated against flu as cases climb