Media - Northern Europe

Northern Europe

In Northern Europe, the revenue in the Media market is forecasted to reach US$25.23bn in 2024.
The largest market within this market is TV & Video, with a market volume of US$9.57bn in 2024.
When compared globally, the in the United States is expected to generate the most revenue, with US$523.80bn in 2024.
By 2029, 42.95% of the total revenues in the Media market will come from digital Media market.
In Denmark's media market, digital subscriptions are on the rise, reflecting a shift towards online content consumption among the population.

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

Market

Region

Region comparison

Currency

Analyst Opinion

The Media market in Northern Europe has been experiencing significant growth in recent years, driven by changing customer preferences and the rise of digital media. Customer preferences in the region have shifted towards on-demand and streaming services, as consumers increasingly value convenience and flexibility in accessing media content.

This has led to a decline in traditional media formats such as print newspapers and broadcast television, as consumers opt for online news sources and streaming platforms. Additionally, there is a growing demand for personalized and targeted content, as consumers seek out media that aligns with their interests and values. Trends in the market reflect these changing preferences, with the rise of digital media platforms and the decline of traditional media outlets.

Streaming services such as Netflix and Spotify have gained popularity in the region, offering a wide range of content that can be accessed anytime and anywhere. Social media platforms have also become important channels for media consumption, with users turning to platforms like Facebook and Instagram for news and entertainment. Furthermore, there has been a growth in the production and consumption of user-generated content, as individuals have the ability to create and share their own media content through platforms like YouTube and TikTok.

Local special circumstances in Northern Europe have contributed to the development of the media market. The region has a high level of internet penetration and technological infrastructure, which has facilitated the growth of digital media platforms. Additionally, Northern European countries have a strong culture of media consumption, with a high level of media literacy and engagement.

This has created a favorable environment for the adoption of new media technologies and platforms. Underlying macroeconomic factors have also played a role in the development of the media market in Northern Europe. The region has a strong and stable economy, which has provided consumers with the disposable income to spend on media services.

Furthermore, the high level of education and digital literacy in the region has contributed to the demand for digital media, as consumers are able to navigate and utilize new technologies effectively. In conclusion, the Media market in Northern Europe is experiencing growth and transformation, driven by changing customer preferences, the rise of digital media, and favorable local circumstances. The shift towards on-demand and streaming services, the decline of traditional media formats, and the importance of personalized and targeted content are key trends in the market.

The high level of internet penetration, media literacy, and economic stability in the region have also contributed to the development of the media market.

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.