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Media Global Market Report 2023: Adoption of VR in the Broadcast Industry Presents Opportunities

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Global Media Market

Global Media Market
Global Media Market

Dublin, April 28, 2023 (GLOBE NEWSWIRE) -- The "Media Global Market Report 2023" report has been added to's offering.

The global media market grew from $2,195.19 billion in 2022 to $2,371.64 billion in 2023 at a compound annual growth rate (CAGR) of 8.0%. The media market is expected to grow to $3,200.17 billion in 2027 at a CAGR of 7.8%.

Autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost-effective, lightweight, and reduce risks associated with cranes and cable cams during filmmaking. Autonomous drones are flying gadgets equipped with multiple rotors, a built-in high-resolution camera, and algorithms for capturing videos and pictures. It offers a 360-degree experiential recording experience with minimum human intervention.


They are used to capture aerial shots, taking footage and images without having a cameraman on an actual helicopter. For instance, Major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu, and EHANG.

Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create a potential impact on audiences. Live events such as sports and music are expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment.

For example, NextVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate. It also partnered with an events company Live Nation to broadcast live music to music fans worldwide. The rise in demand for VR content is expected to drive the market going forward.

North America was the largest region in the media market in 2022. Africa is expected to be the fastest growing region in the forecast period. The regions covered in the media report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

The countries covered in the media market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, Vietnam.

Markets Covered:

1) By Type: TV And Radio Broadcasting; Film And Music; Information Services; Web Content, Search Portals And Social Media; Print Media; Cable and Other Subscription Programming
2) By Revenue Model: Subscription; Advertisement; Sponsorship; Other Revenue Models
3) By Application: Wired; Wireless

Key Attributes:

Report Attribute


No. of Pages


Forecast Period

2023 - 2027

Estimated Market Value (USD) in 2023

$2371.64 billion

Forecasted Market Value (USD) by 2027

$3200.17 billion

Compound Annual Growth Rate


Regions Covered


Key Topics Covered:

1. Executive Summary

2. Report Structure

3. Media Market Characteristics

4. Media Market Product Analysis

5. Media Market Supply Chain

6. Media Market Customer Information

7. Media Market Trends And Strategies

8. Media Market - Macro Economic Scenario

9. Media Market Size And Growth

10. Media Market Regional Analysis

11. Media Market Segmentation

12. Media Market Segments

13. Media Market Metrics

14. Asia-Pacific Media Market

15. Western Europe Media Market

16. Eastern Europe Media Market

17. North America Media Market

18. South America Media Market

19. Middle East Media Market

20. Africa Media Market

21. Media Market Competitive Landscape

22. Key Mergers And Acquisitions In The Media Market

23. Recommendations

24. Appendix

A selection of companies mentioned in this report includes

  • Google

  • Facebook Inc.

  • AT&T Inc.

  • Netflix Inc.

  • The Walt Disney Company

  • Apple

  • Tencent Holdings Co Ltd

  • CBS Corporation

  • Charter Communications Inc

  • Sony Corp.

For more information about this report visit

About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.


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