5 predictions for media, publishing, entertainment in 2023
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Insight hero five predictions for the media, publishing, and entertainment industry in 2023
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Five predictions for the media, publishing, and entertainment industry in 2023

The global media, publishing, and entertainment outlook for 2023

The media, publishing and entertainment industry is a $2.5 trillion industry, with a current market growth rate of 4.5%. With 2023 set to be an eventful year for the industry, Brajesh Jha, Genpact’s global head of media, publishing, and entertainment, outlines his top five predictions for the year ahead.

Here’s a summary of his predictions:

  1. Mergers, acquisitions, and carve outs will continue be active in 2023. The number of deals may not reach 2022 levels, but the major studios and entertainment companies and tech giants will consolidate. The gaming industry will be the pivot around which a lot of these moves will be made, with operational efficiency a key target area
  2. Consumer subscription fatigue will accelerate, with the media industry suffering most. While overall streaming subscriptions grew in 2022, nearly 30 million subscriptions were cancelled. This churn problem is going to be significant and may outpace new subscriber growth. Linear television may reach a plateau after a prolonged period of decline. Free, ad-supported streaming TV offerings will continue to grow
  3. Advertising will continue to contribute a greater share to industry revenue. In 2022, we saw it overtake internet access spend for the first time. More consumers are spending time glued to their screens and it is now possible for them to search within an app and directly land at the shopping page of the product
  4. The live sports market is going to be a top attraction for streaming platforms, cable companies, and satellite services providers looking to differentiate their offerings. In 2022, we saw the record-breaking NFL deal with Amazon and the MLS deal with Apple. This trend will continue in 2023 and the largest sports leagues will be busy looking to secure the best price. This is a solid match between streaming providers looking to retain consumers and sports organizations looking to monetize their rights and expand access to a broader set of customers
  5. 5G standalone networks will see significant investment. This will be key to unlocking the true value of 5G's capabilities. Enterprise customers will be the primary target segment for this significant overhaul in unified virtual networks and management systems. Enterprises with heavy device density will see fiber like speeds and reliability

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