Media - United Kingdom | Statista Market Forecast

In the United Kingdom, revenue in the Media market is projected to reach US$68.62bn in 2024.
The largest market within this market in the United Kingdom is TV & Video, which is expected to have a market volume of US$33.44bn in 2024.
In a global context, the most revenue will be generated the United States, where it is projected to be US$541.20bn in 2024.
Furthermore, in the Media market, it is anticipated that 51.73% of total revenues will be generated through digital Media market by 2029 in the United Kingdom.
In the United Kingdom, the media landscape is increasingly dominated by digital platforms, reflecting a significant shift in consumer engagement and content consumption habits.

Definition:

The media market encompasses a diverse array of platforms and channels that facilitate the creation, distribution, and consumption of content, such as news, entertainment, and information. It includes traditional outlets like television, radio, and print publications, as well as digital platforms like social media, streaming services, and online news websites. This market plays a central role in shaping public discourse, cultural trends, and the dissemination of information on a global scale, making it a critical component of modern society.

Structure:

The market consists of several parts, namely Books, Games, Music, Radio & Podcasts, Newspapers & Magazines and TV & Video. These markets encompass digital and traditional revenues.

Additional Information:

The market comprises revenues, users, average revenue per user, penetration rates and advertising spendings. Revenues are generated through purchases, subscriptions, consumer spending or ad spendings. Key players of the market are companies, such as Netflix, Spotify, Activision or Amazon.
Market numbers for all the digital markets can also be found in the Digital Media topic.

Traditional media with non-digital revenues from TV, radio, music, print, and video games
Digital media with digital revenues from OTT video, music streaming, video games, digital versions of Newspapers & Magazines with ePapers & eMagazines, and eBooks

Movie theater ticket sales
Public licence fees collected in form of a tax (e.g. income tax in the Nordic countries)
Demo/trial versions
Esports & gaming advertising revenues

The Media market in United Kingdom has experienced significant growth in recent years, driven by changing customer preferences and the rise of digital media. Customer preferences in the Media market have shifted towards digital platforms, with consumers increasingly consuming content online. This trend has been driven by the widespread availability of high-speed internet and the proliferation of smartphones and other connected devices. As a result, traditional media outlets such as newspapers and television have faced declining readership and viewership, while digital media platforms have seen a surge in popularity. In addition to the shift towards digital media, there has been a growing demand for personalized and on-demand content. Consumers now expect to be able to access content whenever and wherever they want, and media companies have had to adapt to meet these changing expectations. This has led to the rise of streaming services and digital content providers, which offer a wide range of content that can be accessed on multiple devices. Another trend in the Media market in United Kingdom is the increasing importance of social media as a platform for content consumption. Social media platforms such as Facebook, Twitter, and Instagram have become key channels for news and entertainment, with many consumers relying on these platforms for their daily dose of information and entertainment. This has created new opportunities for media companies to reach and engage with their target audience through social media marketing and advertising. Local special circumstances in the United Kingdom have also played a role in shaping the Media market. The country has a strong tradition of media production, with a thriving film and television industry. This has attracted international media companies and production studios to set up operations in the United Kingdom, further contributing to the growth of the market. Additionally, the United Kingdom has a highly competitive media landscape, with a wide range of media outlets and content providers vying for consumer attention. This has led to innovation and investment in new technologies and content formats, further driving the growth of the market. Underlying macroeconomic factors have also influenced the development of the Media market in United Kingdom. The country has a strong and stable economy, which has provided a favorable environment for media companies to invest and grow. Additionally, the United Kingdom has a large and affluent consumer base, which has created a strong demand for media content and services. In conclusion, the Media market in United Kingdom has experienced significant growth in recent years, driven by changing customer preferences, the rise of digital media, and the local special circumstances. The shift towards digital platforms, the demand for personalized and on-demand content, and the increasing importance of social media have all contributed to the growth of the market. Additionally, the strong tradition of media production, the competitive media landscape, and the favorable macroeconomic conditions have further fueled the development of the market.

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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.