Entertainment - Western Asia
Western Asia- The Entertainment market in Western Asia is expected to witness significant growth in the coming years.
- According to projections, the total revenue in this market is estimated to reach US$162.00m in 2022.
- Moreover, it is anticipated that the market will continue to expand at an annual growth rate of 12.20% (CAGR 2022-2027), resulting in a projected market volume of US$273.70m by 2027.
- Within the Entertainment market, the revenue generated from in-app purchases (IAP) is expected to reach US$123.80m in 2022.
- Additionally, the revenue from paid app downloads is projected to reach US$87.95k in the same year.
- Furthermore, advertising revenue is anticipated to reach US$38.21m in 2022.
- In terms of user engagement, the number of downloads in the Entertainment market is projected to reach 120.80m downloads in 2022.
- Currently, the average revenue per download is expected to amount to US$1.34.
- When compared globally, it is evident that China is the leading revenue generator in the Entertainment market, with an estimated revenue of US$12.14bn in 2022.
- This highlights the significant market potential and opportunities available in the region.
- These projections indicate a promising future for the Entertainment market in Western Asia, with substantial revenue growth and increasing user engagement.
- Key regions:
- United States,
- India,
- Germany,
- China,
- South Korea
Definition:
The Entertainment market covers apps that offer a wide range of entertainment and leisure experiences. Top apps such as Netflix, HBO Max, and Disney+ provide countless hours of streaming movies and shows to subscribers, while TikTok's extremely short videos and highly versatile recommendation algorithm has made it one of the biggest social media giants. The market also features more unusual and creative apps that do not neatly fit into other categories such as Die With Me, which provides a chatroom for users with 5% battery or less on their phones, or Ghost Science M3, which allegedly helps users with their paranormal ghost hunts.Additional Information:
We consider three different sources of revenue:- Revenue from in-app purchases (IAP) that comes from the purchase of features, upgrades, and subscriptions within an app
- Paid app revenue from the one-time purchase of an app
- Advertising revenue obtained from showing ads within an app
In-Scope
- Apps that can be downloaded from major app stores such as Apple, Inc.'s App Store and the Google Play store, or in the case of China, from stores such as Huawei AppGallery and Tencent Appstore.
- Apps that are run on iPhones and Android phones.
Out-Of-Scope
- Apps exclusively offered by Microsoft Store and Amazon Appstore for Android.
- Custom-made apps not available from any official app store.
- B2B/C2C app sales of any kind.
- Subscription revenues outside of in-app purchases (for example, Netflix and Spotify use their own payment systems outside of their apps).
