PUBLISHER: The Insight Partners | PRODUCT CODE: 1830930
PUBLISHER: The Insight Partners | PRODUCT CODE: 1830930
The market for blockchain in media, advertising, and entertainment is projected to increase from US$ 2.4 billion in 2024 to US$ 45.5 billion by 2031, with an expected CAGR of 58.5% during the period from 2025 to 2031. The rise in data piracy incidents within the media, entertainment, and advertising sectors is likely to drive the growth of the blockchain market in these areas.
Analysis of Blockchain in Media, Advertising, and Entertainment Market
The growing demand for blockchain technology in the media and entertainment industries is linked to the increasing commercialization of content and the widespread violation of intellectual property (IP) rights. The urgent need to eliminate intermediaries between content creators and consumers, the rising demand for secure and fast transactions, and the growing instances of data piracy in these sectors are key factors fueling market growth.
Overview of Blockchain in Media, Advertising, and Entertainment Market
Blockchain in media, advertising, and entertainment pertains to the use of blockchain technology in these fields to tackle various challenges and seize opportunities. This technology facilitates the development of transparent, secure, and efficient systems for content distribution, consumption, and monetization.Notable use cases include enabling micropayments for content access, peer-to-peer sales and distribution, efficient royalty payments, and usage-based billing models. Blockchain technology provides advantages such as improved transparency, trust, efficiency, speed, security, and control throughout the media supply chain, affecting content delivery, consumption, payment processes, and advertising.
Drivers and Opportunities in the Blockchain in Media, Advertising, and Entertainment Market
Rising Data Piracy Incidents to Propel Blockchain in Media, Advertising, and Entertainment Market Growth
The increasing frequency of data piracy in the media and entertainment sectors is driving the demand for blockchain solutions, as blockchain technology offers enhanced security and transparency in content distribution and consumption.Blockchain technology can significantly hinder pirates from illegally sharing and profiting from media content. It enables the tracking of illicit activities through distributed ledger technology, making it challenging for individuals to conceal their piracy actions.
Segmentation Analysis of Blockchain in Media, Advertising, and Entertainment Market Report
The market is categorized by blockchain type into public and private segments. The public segment is anticipated to capture a significant share of the blockchain in media, advertising, and entertainment market in 2024.
A public blockchain, in the context of this market, refers to a decentralized and transparent digital ledger that is accessible to all. This type of blockchain supports various industry use cases, including micropayments, peer-to-peer sales and content distribution, efficient royalty payments, and usage-based billing models.
Geographical Analysis of Blockchain in Media, Advertising, and Entertainment Market Share
The blockchain in media, advertising, and entertainment market report is primarily segmented into five regions: North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is witnessing rapid growth and is expected to hold a significant share of the blockchain in media, advertising, and entertainment market. The region's adoption of blockchain technologies across media, entertainment, and advertising for various applications, including licensing and rights management, digital advertising, smart contracts, content security, online gaming, and payments, is a major factor contributing to its market growth.
Scope of the Blockchain in Media, Advertising, and Entertainment Market Report
The "Blockchain in Media, Advertising, and Entertainment Market Analysis" was conducted based on components, blockchain types, enterprise sizes, applications, and geographical regions. The market is segmented by component into solutions and services. By blockchain type, it is divided into public and private. By enterprise size, it is categorized into SMEs and large enterprises. By application, it includes licensing and rights management, digital advertising, smart contracts, content security, online gaming, and payments. Geographically, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Recent Developments and News in the Blockchain in Media, Advertising, and Entertainment Market
Companies are employing both inorganic and organic strategies, such as mergers and acquisitions, within the market. The forecast for the blockchain in media, advertising, and entertainment market is based on various secondary and primary research findings, including key company publications, association data, and databases. Some recent significant market developments include:
In February 2024, Xfinite and Eros Now, a prominent over-the-top (OTT) South Asian entertainment platform owned by Eros STX Global Corporation, announced an expansion of their partnership with Xfinite's Mzaalo platform, a gamified video streaming service projected to reach 10 million users by the end of the year.[Source: Eros Now, Company Website]
Coverage and Deliverables of the Blockchain in Media, Advertising, and Entertainment Market Report
The market report titled "Blockchain in Media, Advertising, and Entertainment Market Size and Forecast (2021-2031)" provides a comprehensive analysis of the market, covering the following areas:
Market size & forecast at global, regional, and country levels for all key market segments included in the scope.Market dynamics such as drivers, restraints, and key opportunities.Key future trends.Detailed PEST & SWOT analysis.Global and regional market analysis covering key market trends, major players, regulations, and recent market developments.Industry landscape and competition analysis, including market concentration, heat map analysis, key players, and recent developments.In-depth company profiles.