Blockchain In Media, Advertising, And Entertainment Market Growth by 2031

The blockchain in media, advertising, and entertainment market size is expected to grow from US$ 1.1 billion in 2023 to US$ 118.2 billion by 2031; it is anticipated to expand at a CAGR of 79.4% from 2023 to 2031. Increasing cases of data piracy in the media, entertainment, and advertising sectors are expected to boost the blockchain in media, advertising, and entertainment market growth.

Blockchain in Media, Advertising, and Entertainment Market Analysis 

The rising requirement for blockchain technology in the media and entertainment sector is attributed to the increasing commercialization of content and widespread infringement of intellectual property (IP). The escalating necessity to remove intermediaries between content creators and end-users, the surging demand for secure and expedited transactions, and the escalating occurrences of data piracy in the entertainment and media industries are significant factors propelling the market forward.

Blockchain in Media, Advertising, and Entertainment Market

Overview

• Blockchain in media, advertising, and entertainment refers to the application of blockchain technology within these industries to address various challenges and capitalize on opportunities. This technology enables the creation of transparent, secure, and efficient systems for content distribution, consumption, and monetization.
• Key use cases include facilitating micropayments for content consumption, peer-to-peer sales and distribution, streamlined royalty payments, and usage-based billing models. Blockchain technology offers benefits such as enhanced transparency, trust, efficiency, speed, security, and control across the media supply chain, impacting areas such as content delivery, consumption, and payment, as well as advertising.

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Blockchain in Media, Advertising, and Entertainment Market: Strategic Insights

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Blockchain in Media, Advertising, and Entertainment Market Drivers and Opportunities

Increasing Occurrences of Data Piracy to Drive the Blockchain in Media, Advertising, and Entertainment Market Growth

• The increasing occurrences of data piracy in media and entertainment are contributing to the demand for blockchain solutions due to the enhanced security and transparency that blockchain technology can provide in content distribution and consumption.
• Blockchain technology has the potential to make it extremely difficult for pirates to share and profit from media content unlawfully. It allows for the tracking of unlawful actions via distributed ledger technology, making it difficult for individuals to hide their piracy activities.

 Blockchain in Media, Advertising, and Entertainment Market Report Segmentation Analysis

• Based on type of blockchain, the market is segmented into public and private. The public segment is expected to hold a substantial blockchain in media, advertising, and entertainment market share in 2023.
• A public blockchain, in the context of the media, advertising, and entertainment market, refers to a decentralized and transparent digital ledger accessible to anyone. This type of blockchain enables various use cases in the industry, such as micropayments, peer-to-peer sales and content distribution, streamlined royalty payments, and usage-based billing models.

Blockchain in Media, Advertising, and Entertainment Market Share Analysis by Geography

The scope of the blockchain in media, advertising, and entertainment market report is primarily divided into five regions - North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is experiencing rapid growth and is anticipated to hold a significant blockchain in media, advertising, and entertainment market share. The region's adoption of blockchain technologies in media, entertainment, and advertising verticals for various applications, such as licensing and rights management, digital advertising, smart contracts, content security, online gaming, and payments, is a significant contributing factor to its market growth.

Blockchain in Media, Advertising, and Entertainment Market Regional Insights

The regional trends and factors influencing the Blockchain in Media, Advertising, and Entertainment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Blockchain in Media, Advertising, and Entertainment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Blockchain in Media, Advertising, and Entertainment Market Report Scope

Blockchain in Media, Advertising, and Entertainment Market Players Density: Understanding Its Impact on Business Dynamics

The Blockchain in Media, Advertising, and Entertainment Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Blockchain in Media, Advertising, and Entertainment Market are:

1. IBM
2. Amazon Web Services, Inc.
3. Microsoft
4. Oracle
5. Infosys Limited
6. Kaleido, Inc.

Disclaimer: The companies listed above are not ranked in any particular order.

The "Blockchain in Media, Advertising, and Entertainment Market Analysis" was carried out based on component, type of blockchain, enterprise size, application, and geography. In terms of component, the market is segmented into solution and services. Based on type of blockchain, the market is segmented into public and private. Based on enterprise size, the market is segmented into SMEs and large enterprise. Based on application, the market is segmented into licensing and rights management, digital advertising, smart contracts, content security, online gaming, and payments. Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.

Blockchain in Media, Advertising, and Entertainment Market News and Recent Developments

Companies adopt inorganic and organic strategies such as mergers and acquisitions in the market. The blockchain in media, advertising, and entertainment market forecast is estimated based on various secondary and primary research findings, such as key company publications, association data, and databases. A few recent key market developments are listed below: 

• In February 2024, Xfinite and Eros Now, a leading over-the-top (OTT) South Asian entertainment platform owned by global entertainment company Eros STX Global Corporation, announced it had deepened its partnership with Xfinite's Mzaalo platform, a gamified video streaming service on track to have 10M users by year-end.

[Source: Eros Now, Company Website]

Blockchain in Media, Advertising, and Entertainment Market Report Coverage & Deliverables

The market report on “Blockchain in Media, Advertising, and Entertainment Market Size and Forecast (2021–2031)”, provides a detailed analysis of the market covering below areas-

• Market size & forecast at global, regional, and country- level for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities.
• Key future trends.
• Detailed PEST & SWOT analysis
• Global and regional market analysis covering key market trends, key players, regulations, and recent market developments.
• Industry landscape and competition analysis covering market concentration, heat map analysis, key players, recent developments.
• Detailed company profiles.