Media - Guyana

Guyana

Guyana's Media market is expected to achieve a revenue of US$109.50m in 2024.
The country's largest market within this market is Newspapers & Magazines, with a market volume of US$52.14m in 2024.
When compared globally, the in the United States is anticipated to generate the highest revenue, reaching US$523.80bn in 2024.
Within the Media market of Guyana, 54.21% of total revenues are projected to be generated through digital Media market by 2029.
Guyana's media market is experiencing a surge in digital platforms, with online news outlets gaining popularity among the younger population.

Key regions: United States, China, Japan, United Kingdom, Germany

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Analyst Opinion

The Media market in Guyana has been experiencing significant growth and development in recent years. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors have all contributed to this positive trajectory.

Customer preferences in the Media market in Guyana have shifted towards digital platforms and content. With the increasing availability of affordable internet services and the rising popularity of smartphones, consumers are now seeking convenient and on-demand access to media content. Streaming services, social media platforms, and online news outlets have become increasingly popular among Guyanese consumers, who are now looking for personalized and interactive content experiences.

Trends in the market reflect this shift towards digital media consumption. Traditional media outlets such as television and radio are facing increased competition from online platforms. Streaming services like Netflix and Amazon Prime Video have gained significant traction in Guyana, offering a wide range of international and local content.

Social media platforms like Facebook, Instagram, and YouTube are also widely used for entertainment and news consumption. This trend is expected to continue as access to the internet becomes more widespread and affordable in the country. Local special circumstances have also played a role in the development of the Media market in Guyana.

The country's diverse population, with a mix of ethnicities and languages, has created a demand for media content that caters to different cultural preferences. Local television stations and radio channels have responded to this demand by offering programming in various languages and genres. Additionally, the growing tourism industry in Guyana has led to an increased interest in media content that showcases the country's natural beauty and cultural heritage.

Underlying macroeconomic factors have further contributed to the growth of the Media market in Guyana. The country's steady economic growth and rising disposable incomes have allowed more consumers to afford media services and devices. This has created a larger market for media companies to tap into and has encouraged investment in the sector.

Furthermore, the government's efforts to improve infrastructure, including expanding access to electricity and internet services, have facilitated the growth of the Media market by increasing the reach and availability of media content. In conclusion, the Media market in Guyana is experiencing growth and development due to customer preferences for digital media, trends towards online platforms, local special circumstances such as cultural diversity and tourism, and underlying macroeconomic factors such as economic growth and infrastructure development. These factors have created a favorable environment for media companies to thrive and meet the evolving needs of Guyanese consumers.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.