The media and entertainment industry United States It is the largest in the world, with a value of $660,000 million in 2020, according to a report by the Commerce Department.
Globally, this industry had an estimated market value of $2 billion in the same year, according to the latest available data.
Data corresponding to the United States recorded a decline of around $53 billion, or 7.3% less compared to 2019, due to the pandemic.
The rise of streaming services and digital media subscriptions in 2020 has been a boon for MVoD, Video games and music, while the economy of live performances, tours and concerts have been forced to either turn or shut down.
The media and entertainment industry includes companies that produce, distribute and offer ancillary digital services and products for: movies, television shows and commercials, as well as broadcast content, music, video recordings and audio, broadcast, radio, book publishing and text, esports and video game sectors.
media and entertainment
In 2018, the top copyright industries added $2.2 trillion to the US economy and employed more than 11.6 million workers.
These industries grew at an average of 5.23% per year, while the US economy as a whole grew at an average of 2.21% per year.
According to Deloitte & Touche LLP’s Outlook 2021 publication, for the US telecommunications, media and entertainment industry in 2020, US telecommunications networks have been critical in driving change in the way people live, work and learn. amid the Covid-19 pandemic and have helped mitigate the negative effects of the pandemic by keeping people and communities connected.
The publication predicts that telecommunications providers will serve as the foundation for businesses’ ability to recover and thrive by continuing to enable new modes of communication.
Additionally, MasTec said telecom carriers are set to play an even bigger role in shaping the future as next-generation 5G wireless technology gains traction with businesses and consumers.
5G, the next generation of wireless and fixed network capability, is also expected to provide a platform for IoT, which can be leveraged to drive innovation and improvements in commerce, transport, supply chain. supply, research, healthcare, education, public safety, development of Smart Cities, Smart Homes and Smart Farming, among many other applications.
5G is expected to give businesses significant real-time visibility, insight and control over assets, products and services, with the potential to transform the way businesses operate and deliver new products and services.