Online Entertainment Market Size Could Exceed $650 Billion By 2027
b'PALM BEACH, Fla., May 6, 2021 /PRNewswire/ -- Online entertainment involves accessing entertainment material, including music, videos, books, and games over internet.
- b'PALM BEACH, Fla., May 6, 2021 /PRNewswire/ -- Online entertainment involves accessing entertainment material, including music, videos, books, and games over internet.
- Thus, an increase in popularity of social media platforms is expected to boost the growth of the online entertainment market during the forecast period.
- A report from Allied Market Research projected that the online entertainment market size was valued at $183.1 billion in 2019, and is estimated to reach $652.5 billion by 2027, registering a CAGR of 20.82% from 2021 to 2027.Active Companies in the markets today include Grom Social Enterprises, Inc. (OTCQB: GRMM), fuboTV Inc. (NYSE: FUBO), AMC Theatres (NYSE: AMC), Roku, Inc. (NASDAQ: ROKU), iQIYI Inc. (NASDAQ: IQ).\nThe Allied Market Research report said: "Surge in penetration of smartphones is the key factor that drives the growth of the online entertainment market.
- This is attributed to the fact that smartphones are majorly used for social media accessing, playing online games, watching movies, and listening to music.