JournalismPakistan.com | Published June 10, 2024
Join our WhatsApp channel
LONDON—The latest PwC Global Entertainment & Media Outlook 2023–2027 report has highlighted significant changes and challenges within the media industry, projecting a substantial shift in revenue streams and growth strategies.
According to the report, total global entertainment and media revenue grew by 5.4 percent in 2022, reaching $2.32 trillion. However, this marks a deceleration from the previous year's growth of 10.6 percent. The forecast predicts that by 2027, the growth rate will slow further to 2.8 percent annually, lagging behind the projected 3.1 percent overall economic growth rate.
Advertising Ascendancy: Advertising is set to surpass consumer spending as the largest revenue category in the media industry by 2025. Internet advertising, which grew by 8.1 percent in 2022, is expected to be a significant driver, with total global advertising revenue projected to reach $952.6 billion by 2027.
Consumer Spending Slowdown: The report notes a decline in consumer spending on entertainment and media, attributed to inflation, pandemic aftereffects, and geopolitical uncertainties. Consumer spending is forecasted to grow at just 2.4 percent annually, totaling $903.2 billion by 2027.
Digital Transformation: As media products become more digital, production and distribution costs are falling, but competition among digital content providers is intensifying. This competition, coupled with the widespread adoption of digital platforms, is reshaping the media landscape.
AI Integration: Companies are increasingly looking at generative AI to boost productivity and creativity. This technology is expected to play a crucial role in driving growth and efficiency within the media sector.
Implications for the Media Industry:
The shift towards advertising revenue and digital content consumption presents both challenges and opportunities for media companies. Firms must adapt by leveraging technology, such as AI, to enhance their offerings and improve operational efficiency. Additionally, the industry needs to navigate the changing consumer behavior and economic pressures to sustain growth.
March 29, 2025: A federal judge has blocked the Trump administration’s attempt to dismantle Voice of America (VOA), ruling that the move likely violated legal procedures. The decision protects over 1,200 journalists and media staff.
March 28, 2025: Turkey deports BBC journalist Mark Lowen over 'public order' threat and fines opposition TV channels covering Istanbul Mayor's arrest. Critics condemn crackdown on press freedom amid rising political tensions.
March 25, 2025: Turkish authorities must release detained journalists covering protests and end press crackdowns. CPJ condemns police violence and home raids targeting media workers.
March 16, 2025: The Trump administration has ordered furloughs at U.S.-funded broadcasters, including Voice of America (VOA) and Radio Free Asia, raising concerns about press freedom and government control over media funding.
March 08, 2025: Senior UK TV producers are taking shelf-stacking and pub jobs as the industry faces a prolonged crisis. Thousands are unemployed, with freelancers struggling to find work. Learn more about the factors behind this collapse.
February 28, 2025: CPJ urges Russian authorities to drop charges against journalist Ekaterina Barabash, who faces up to 10 years in jail for criticizing the Ukraine invasion. Learn how fake news laws are being used to silence dissenting voices in Russia.
February 21, 2025: Ghanaian authorities must investigate the attack on five journalists covering Ashanti Region elections. CPJ urges accountability to ensure press freedom and safety.
February 07, 2025: Mozambican journalist Albino Sibia was killed while filming police brutality, and reporter Pedro Junior was shot covering his funeral. Arlindo Chissale remains missing. These attacks highlight the dire state of press freedom in Mozambique amid post-election unrest.
April 11, 2025 Sindhi journalist AD Shar was brutally murdered in Khairpur, Sindh. His body was found dumped on Handiyari Link Road. PFUJ has declared a three-day mourning period and demanded justice.
April 10, 2025 The Azad Jammu and Kashmir government has filed a case against The Daily Jammu & Kashmir and its staff for alleged fake news, drawing condemnation from PFUJ and IFJ, who demand immediate withdrawal of the FIR and an end to media repression in Pakistan.
April 08, 2025 Journalist Arzoo Kazmi alleges that Pakistan's state agencies, including the FIA, have blocked her CNIC, passport, and bank account while threatening her. She calls it a direct attack on journalism.
April 07, 2025 The Islamabad High Court has directed IG Islamabad to produce journalist Ahmad Noorani’s missing brothers, as the Ministry of Defence denies custody. SIM activity was traced in Bahawalpur, and investigations into their suspected abduction continue.
April 07, 2025 Journalist and Raftar founder Farhan Mallick has been granted bail by a Karachi court in a case concerning anti-state content aired on his YouTube channel. He still faces separate charges related to an alleged illegal call center and data theft.