Digital Media Market Size, Share, Growth Analysis, By Streaming Services (Subscription Video on Demand (SVOD), Ad-supported Video on Demand (AVOD), Transactional Video on Demand (TVOD), and Live Streaming Platforms), By Social Media (Social Networking Platforms, Microblogging Platforms, Video Sharing Platforms, and Image Sharing Platforms), By Online Advertising(Display Advertising, Search Engine Advertising, Social Media Advertising, Video Advertising), By Region - Industry Forecast 2024-2031

Report ID: SQMIG50U2001 | Region: Global | Published Date: April, 2024
Pages: 177 | Tables: 94 | Figures: 76

Digital Media Market News

July 2023: Emerging in July 2023, Threads, owned via Meta, arrives at the social media scene amidst considerable shifts happening at X (previously Twitter) following its acquisition via Elon Musk in 2022.

In May 2021, AT&T declared their intentions to part ways with their old partner, WarnerMedia and enter partnership with another prominent player in the real-world entertainment, Discovery Inc. This merger plan worth USD 43 Billion aims at creating a fresh independent entity that focuses on digital media such as streaming content and compete with other giants such as Netflix and Disney+.

In May of 2021, Meta Platforms Inc., which oversees Facebook, Instagram, and WhatsApp, finalized its purchase of Giphy, a widely used platform for sharing GIFs (Graphics Interchange Format). The objective of this acquisition was to seamlessly integrate Giphy's vast GIF library into Meta's offerings, enriching user interaction and involvement across its platforms.

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Digital Media Market size was valued at USD 25.6 billion in 2022 and is poised to grow from USD 29.08 billion in 2023 to USD 80.66 billion by 2031, growing at a CAGR of 13.6% in the forecast period (2024-2031).

The aggressive surroundings of the Digital Media market are dynamic and marked by the presence of key players vying for marketplace percentage throughout various segments. Social media platforms, led by using Facebook, Instagram, Twitter, and emerging players like TikTok, interact in non-stop innovation to capture and preserve consumer attention, with a focus on brief-form movies and interactive functions. In the area of online advertising, platforms like Google and Facebook dominate digital advert spending, utilizing their great consumer statistics and cantered advertising and marketing abilities. 'Facebook', 'Google', 'Amazon', 'Netflix', 'TikTok', 'Twitter', 'Instagram', 'Snapchat', 'LinkedIn', 'Pinterest', 'Spotify', 'Adobe Inc.', 'Tencent', 'Activision Blizzard', 'Electronic Arts (EA)', 'Microsoft', 'Sony Interactive Entertainment', 'Roku', 'Hulu', 'Vimeo'

The giant proliferation of high-pace internet connectivity, allowing seamless get right of entry to digital content across numerous gadgets. The growing adoption of smartphones, coupled with expanding mobile networks, has empowered customers to interact with virtual media every time, anywhere. The surge in demand for on-call for content, specially through streaming offerings, displays converting client choices and a shift far from conventional media consumption.

North America, mainly the US, has historically been a dominant pressure within the international digital media marketplace. The area has a properly established technological infrastructure, a large client base, and is home to most important generation and leisure companies.

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