PUBLISHER: The Business Research Company | PRODUCT CODE: 1742134
PUBLISHER: The Business Research Company | PRODUCT CODE: 1742134
Generative AI in media and entertainment refers to the use of artificial intelligence systems that create new content, such as text, images, audio and video, by learning from large datasets. This technology revolutionizes content creation, enabling personalized and immersive experiences for audiences.
The generative AI in media and entertainment market consists of sales of generative AI in media and entertainment by entities (organizations, sole traders and partnerships) that is used during content development, production and marketing phases to enhance creativity, efficiency and audience engagement. This technology is instrumental in optimizing content delivery, recommendation algorithms and audience targeting, leading to a more dynamic and responsive media ecosystem. As the media and entertainment industry embraces generative AI, it strives to deliver tailored content experiences, fostering audience satisfaction and loyalty.
The global generative AI in media and entertainment market was valued at $610.77 million in 2019 which grew till 2024 at a compound annual growth rate (CAGR) of more than 26.00%.
Rising Internet Penetration
During the historic period, the rising internet penetration supported the growth of generative AI in media and entertainment market. As more users gained access to high-speed internet, streaming platforms, social media and digital content consumption continued to expand. This creates a larger pool of data for generative AI models to analyze and improve content personalization, recommendation systems and creative content generation. Additionally, increased connectivity allows media companies to deploy AI-driven tools like automated video editing, scriptwriting and digital artwork creation at scale. For example, in 2023, according to ITU report, the Telecommunication Development Sector (ITU-D) that works to close the digital divide and drive digital transformation to leverage the power of Information and Communication Technologies (ICTs), approximately 67% of the world's population, or 5.4 billion people, was online. This represents a growth of 4.7% since 2022, an increase from the 3.5% recorded from 2021 to 2022. The number of people offline in 2023 decreased to an estimated 2.6 billion people, representing 33% of the global population. Therefore, the rising internet penetration drove the generative AI in media and entertainment market going forward.
Focus On Innovative Generative AI Media Solutions Integrating Microsoft Azure OpenAI Service
Major companies operating in the generative AI media and entertainment market are focused on developing innovative AI technologies such as media copilot, to stay competitive and meet the evolving demands of the industry. Media Copilot refers to an innovative AI-based tool to assist users in analyzing content performance across distribution platforms and revenue models in the media and entertainment industries. For instance, in April 2024, Symphony Innovation LLC, a US-based software company, announced the launch of AI-driven Media Copilot, which is both predictive and generative. The Symphony AI Media Copilot will assist users in rapidly analyzing content performance across distribution platforms and revenue models and provides AI-driven insights to unlock new value from streaming content and services. The copilot is powered by the Symphony AI Eureka AI generative and predictive AI platform and integrates Microsoft Azure OpenAI Service with Revedia media and entertainment products.
The global generative AI in media and entertainment market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 18.94% of the total market in 2023
Generative AI In Media And Entertainment Global Market Opportunities And Strategies To 2034 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global generative AI in media and entertainment market as it emerges from the COVID-19 shut down.
Where is the largest and fastest-growing market for generative AI in media and entertainment? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The generative AI in media and entertainment market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider generative AI In media and entertainment market; and compares it with other markets.