Digital media business to grow 15% to $292 bn in 2021

The revenue of the global digital media industry is expected to increase 15 percent to $292.4 billion in 2021, according to data presented by
Digital media revenue forecast
The digital media sector includes audio-visual media content and applications distributed directly over the Internet. This includes digital video content, digital music provided as download or internet-stream, digital games, as well as eBooks, eMagazines, and ePapers.

The revenue of digital media has increased to $208.3 billion in 2019 from $158.3 billion in 2017, says the Statista survey.

The COVID-19 lockdown triggered a surge in the use of digital media content, with revenues growing by 22 percent year-over-year to $254.8bn in 2020. The increasing trend is set to continue in the following years, with this figure rising to over $414bn by 2025.

Statistics show the video-on-demand segment witnessed the most significant growth amid the COVID-19 pandemic, with revenues rising by 29 percent to $72.5 billion in 2020 and touching $85.8 billion in 2021.

The video games segment’s revenues jumped by 23 percent to $135.8 billion in 2020 and are forecast to rise to $154.6 billion this year. Digital music and ePublishing sectors follow with $24.8bn and $27bn in revenue, respectively.

Statista survey revealed the digital media industry is set to reach more than seven billion users this year, with video games as the leading segment. The number of people playing video games is expected to reach 2.8 billion in 2021, a 27 percent jump in two years.

Statistics show the number of users in the video-on-demand segment is expected to hit 1.8 billion this year, 28 percent more than in 2019. The ePublishing and digital music sectors follow with 1.4 billion and 1.1 billion users as of this year, respectively.

United States represents the world’s leading digital media industry forecast to reach $85.8 billion value in 2021, 13 percent more than a year ago.

Chinese digital media market is expected to witness the most substantial growth this year, with revenues increasing by almost 18 percent to $66.7 billion.

Japan is the third-largest digital media market globally with $25.3 billion in revenue. United Kingdom has digital media market revenue of $14 billion. South Korea has digital media market revenue of $8.8 billion.

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