Digitization Of Newspapers And Magazines Is A Key Trend In The Media Market - By The Business Research Company

LONDON, Dec. 8, 2022 /PRNewswire/ -- The newspaper and magazine industry are currently experiencing significant transformations due to digital technologies. Publishers of newspapers and magazines have changed their distribution approaches by introducing digital offers and services that can cater to consumers' needs. Traditional newspapers and magazines publishers are offering their content on online platforms and mobile applications. Major traditional newspaper platforms offering news on digital platforms include New York Times Co, McClatchy Co., Gannett Co. Inc, The Guardian and The Sun.

Avail a limited period discount of 33% on our uniquely designed Opportunities and Strategies market research reports. Contact us today and make winning strategies.

The global media market size grew from $1.98 trillion in 2021 to $2.21 trillion in 2022 at a compound annual growth rate (CAGR) of 11.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The media market is expected to grow to $3.34 trillion in 2026 at a CAGR of 10.8%.

Request a free sample of the Media Market Report

Media Market Driver – Rise In Mobile Video Viewing

Mobile video viewing has increased significantly in recent years and is expected to grow further during the forecast period, hence driving the media market. This is mainly driven by the rise in internet penetration and the growth in smart phones usage. For example, according to Yansmedia, a Yerevan based animated explainer video company, there will be 205 million smartphone video viewers in the US by 2022. Every year, mobile video consumption doubles.  Additionally, according to data published by The Social Shepherd, a UK based marketing agency, 90% of consumers have been using their mobile devices to watch video content. Therefore, the increase in mobile video viewing is expected to contribute to the growth of the media market during the forecast period.

Alphabet Inc. Was The Largest Competitor In the Media Market In 2021

As per the media market growth analysis, Alphabet Inc was the largest competitor in the media market in 2021, with a 10.35% share of the market. Alphabet's growth strategy focuses on strengthening its business operations through the launch of new services. For instance, in August 2022, Alphabet's subsidiary, YouTube, announced plans to launch Channel Store, its own online streaming store. Channel Store allows costumer to choose among various streaming services through the YouTube app.

Media Market Segments

The global media market research is segmented -

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, Others

3) By Application: Wired, Wireless

See more on the Media Market Report

Check out similar market reports:

Media Buying Agencies And Representative Firms Global Market Report 2022 - By Services (Media Buying Service, Media Planning Service, Media Representative Firms), By Mode (Offline, Online), By Application (BFSI, Consumer Goods And Retail, Government And Public Sector, IT And Telecom, Healthcare, Media And Entertainment) - Market Size, Trends, And Global Forecast 2022 – 2026

Social Media Global Market Report 2022 – By Type (Social Media Advertisement, Social Media Subscription), By Service (Social Networking, Micro Blogging And Instant Messaging, Photo Sharing Networks), By End-User Industry (Retail And Wholesale, Transportation Manufacturing, Food And Beverages, Financial Services, Information Technology, Electrical And Electronics Manufacturing, Media And Recreation, Transportation Services, Healthcare) – Market Size, Trends, And Global Forecast 2022-2026

Print Media Global Market Report 2022 – By Type (Directory, Mailing List, And Other Publishers, Book Publishers, Newspaper & Magazines Publishers), By Business Model (Subscription, Advertising), By Application (Publishing House, Newspaper Office) – Market Size, Trends, And Global Forecast 2022-2026

Interested to know more about The Business Research Company?

The Business Research Company is a market intelligence firm that excels in company, market, and consumer research. Located globally, it has strategy enablement specialists in a wide range of industries including manufacturing, healthcare, financial services, chemicals, and technology.

The World's Most Comprehensive Database

The Business Research Company's flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.

Contact Information

The Business Research Company  
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info  
LinkedIn: https://in.linkedin.com/company/the-business-research-company  
Twitter: https://twitter.com/tbrc_info  
Facebook: https://www.facebook.com/TheBusinessResearchCompany  
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ  
Blog: http://blog.tbrc.info/  
Healthcare Blog: https://healthcareresearchreports.com/

Logo: https://mma.prnewswire.com/media/1751581/tbrc_logo.jpg