The global entertainment and media industry is expected to generate $4.2 trillion in revenue by 2030, supported by AI-powered advertising and continued demand for live experiences, according to PwC.

The firm’s Global Entertainment & Media Outlook 2026–2030, covering 12 sectors across 53 countries and territories, projects average annual growth of 3.4 per cent. This would add around $600 billion in revenue by the end of the decade, with digital ecosystems driving most of the expansion.

At the heart of that growth will be advertising. Revenue surpassed $1tn for the first time in 2025 and is forecast to reach $1.4tn by 2030, representing average annual growth of 5.6 per cent.

PwC said the increase would be supported by AI-powered, real-time personalisation, which allows advertisers to target audiences more precisely and command higher rates for every thousand impressions.

Internet advertising, including spending across social media, online video and other digital formats, is expected to play a central role. Revenue in the segment grew 12.2 per cent to $755.6bn in 2025 and is projected to increase by an average of 7.2 per cent annually through 2030.

As a result, advertising revenue is forecast to overtake consumer spending in 2026. Consumer spending is expected to grow at an annual rate of 2.5 per cent, while connectivity revenue, which covers payments for internet access, is projected to rise more slowly.

Although connectivity will remain the largest of the industry’s three main segments, its annual growth is forecast at 2.3 per cent. Revenue is therefore expected to increase from $1.3tn in 2025 to $1.5tn in 2030.

Beyond advertising, the global cinema market is continuing its recovery from the disruption caused by the pandemic. Box office revenue is forecast to grow by 3.5 per cent annually to reach $39.5bn in 2030, bringing it close to its pre-pandemic peak.

The pace of recovery, however, will vary considerably between regions. Asia-Pacific box office revenue is projected to rise from $13.8bn in 2025 to about $17bn in 2030, representing annual growth of 4.3 per cent.

Over the same period, revenue across Europe, the Middle East and Africa is expected to increase from $8.6bn to around $10.1bn. North American revenue, meanwhile, is forecast to rise from $8.7bn to approximately $9.9bn.

Streaming will also continue to expand, with revenue projected to grow by 6.1 per cent annually. Nevertheless, the rate of growth is expected to slow in established markets as consumers become increasingly reluctant to pay for multiple subscriptions.

This “subscription fatigue” is likely to encourage further consolidation, partnerships and the bundling of several services into more affordable packages.

At the same time, advertising will become increasingly important to streaming platforms as they expand their lower-cost and ad-supported plans. Advertising currently accounts for 19.4 per cent of streaming revenue, but its share is expected to reach 22.6 per cent by 2030, following annual growth of 9.4 per cent.

Traditional television, by contrast, will come under further pressure as audiences increasingly turn to mobile devices and digital platforms. Global traditional TV revenue fell 2.7 per cent to $360.5bn in 2025 and is projected to decline further to $341.2bn by 2030.

Even as viewing habits shift towards digital platforms, consumers are continuing to spend on live, immersive and shared experiences. Cinema, live music, out-of-home entertainment, trade shows and online betting are collectively expected to grow by 5.2 per cent annually, reaching $294bn in 2030.

Within the music, radio and podcast market, revenue is forecast to rise from $125.5bn in 2025 to $145.1bn in 2030. Streaming will remain its largest component at $56.6bn, while live music revenue is projected to exceed $41.5bn.

Business events are developing along a similar path, with trade shows and experience-led festivals becoming an industry of comparable size. Exhibitor spending reached $38bn in 2025 and is expected to grow by 3.3 per cent annually to $44.6bn in 2030.

One of the fastest-growing areas, however, will be regulated online betting and gambling, which has already overtaken cinema in revenue terms. Across the ten markets examined by PwC, gross online gambling revenue more than doubled from $37.1bn in 2021 to $79.5bn in 2025.

The market is now forecast to grow by a further 8.5 per cent annually, reaching $119.7bn by 2030.