https://www.storyboard18.com/: PwC forecasts global E and M revenues at 4.2 trillion by 2030, led by 1.4 trillion in AI driven advertising, while TV declines, streaming slows and live events and online gambling surge
The report projects the wider entertainment and media (E&M) industry will grow to $4.2 trillion in revenues by 2030, expanding at a 3.4 percent CAGR, with nearly $600 billion in incremental revenues added over the period. The bulk of that growth, PwC said, will be driven by digital ecosystems, AI-powered advertising and a renewed appetite for live, in-person experiences.

Advertising has already crossed a major inflection point. Global ad spend surpassed $1 trillion for the first time in 2025 and is forecast to grow at a 5.6 percent CAGR through 2030, outpacing both consumer spending and connectivity revenues. By 2026, advertising is expected to eclipse consumer spending as the second-largest segment within E&M, trailing only connectivity.

PwC attributes the acceleration to AI-powered, real-time hyper-personalisation, which is allowing advertisers to deliver more targeted creative at scale and command higher CPMs. Internet advertising alone jumped 12.2 percent in 2025 to $755.6 billion, and is projected to grow at a 7.2 percent CAGR through the end of the decade.

“Advertising continues to remain a powerhouse driving the global entertainment and media industry’s revenues,” said Bart Spiegel, Global Entertainment & Media Sector Leader at PwC. “As AI-powered hyper-personalisation transforms engagement with end-users, advertising will play an increasingly greater role across platforms, including streaming.”

While advertising accelerates, traditional growth engines are showing signs of strain. Connectivity revenues, which include consumer spending on internet access and remain the largest E&M segment, are projected to slow to a 2.3 percent CAGR, rising from $1.3 trillion in 2025 to $1.5 trillion in 2030.

The outlook for streaming reflects similar pressure. Global OTT revenues are expected to grow at a 6.1 percent CAGR, but PwC warns that growth in mature markets is slowing as subscription fatigue sets in. In response, streamers are increasingly turning to consolidation, bundled offerings and ad-supported tiers. Advertising currently accounts for 19.4 percent of OTT revenues, a share expected to rise to 22.6 percent by 2030, growing at a 9.4 percent CAGR.

At the same time, traditional television continues its structural decline. Global TV revenues fell 2.7 percent in 2025 to $360.5 billion and are projected to shrink further to $341.2 billion by 2030, declining at 1.1 percent annually, as audiences shift decisively toward mobile and digital platforms.

Cinema, meanwhile, continues its slow post-pandemic recovery. Global box office revenues are forecast to grow at a 3.5 percent CAGR to reach $39.5 billion by 2030, edging closer to pre-pandemic levels. Growth, however, is being driven more by pricing than footfalls, with global admissions expected to rise by just 1 percent annually.

Regionally, the recovery remains uneven. Asia-Pacific is projected to lead box office growth, expanding from $13.8 billion in 2025 to nearly $17 billion by 2030, followed by EMEA and North America, both growing at a slower pace.

Beyond screens, PwC highlights a strong resurgence in live and shared experiences, including live music, trade shows, out-of-home advertising and betting. These segments are collectively projected to grow at a 5.2 percent CAGR to reach $294 billion by 2030.

Live music revenues are expected to exceed $41.5 billion, while spending on trade shows and experience-led business events is projected to climb from $38 billion in 2025 to $44.6 billion by 2030, underscoring the renewed demand for in-person engagement.

One of the most striking shifts flagged in the report is the rise of online betting and gambling, which has already overtaken cinema as a revenue segment. Across ten regulated markets studied by PwC, online gambling revenues more than doubled between 2021 and 2025 and are projected to reach $119.7 billion by 2030, growing at a robust 8.5 percent CAGR.

Taken together, the outlook paints a clear picture of where global media is headed: advertising-led, AI-powered, digitally distributed and increasingly anchored in live, experiential formats, even as traditional models come under pressure.