The online movie market will be driven by factors such as the rising popularity of online video streaming services. In the movie and entertainment industry, online video streaming is one of the fastest-growing segments. Video streaming service providers enable users to access different types of video content, such as movies and TV series. They offer premium as well as free services. The increasing investments by online streaming companies will lead to the production of more movies. This will create a high demand for new online movies. In 2020, Netflix and Amazon Prime spent USD 16 billion to USD 21 billion on original content. In addition, video companies are launching new streaming services in various countries. For instance, in May 2021, Amazon launched free video streaming services in India. Such strategies will attract more customers, which, in turn, will drive the growth of the global online movie market during the forecast period.
The online movie market size is expected to grow by USD 22.09 billion from 2021 to 2026. In addition, the growth momentum of the market will accelerate at a CAGR of 19.95% during the forecast period.
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Online Movie Market: Application Landscape
By application, the market has been segmented into website and app. The website segment will be the largest contributor to market growth during the forecast period. Users can access websites through a browser on their devices such as smartphones, personal computers, tablets, and laptops. Moreover, websites have a larger reach than mobile apps. Such advantages will drive the growth of the website segment of the global online movie market during the forecast period.
Online Movie Market: Geographic Landscape
By geography, the market has been segmented into North America, APAC, Europe, South America, the Middle East and Africa. North America will be the largest contributor to market growth during the forecast period. About 33% of the market's overall growth is expected to originate from the region. The US and Canada are the key countries for the online movie market in North America.
Some Companies Covered:
- Amazon.com Inc.
- Apple Inc.
- Chicken Soup for The Soul Entertainment Inc.
- Eros Media World plc
- Fandango Media LLC
- Hungama Digital Media Entertainment Pvt. Ltd.
- Lions Gate Entertainment Corp.
- Microsoft Corp.
- MovieFlixi.com
- Netflix Inc.
- Shemaroo Entertainment Ltd.
- Sony Group Corp.
- The Walt Disney Co.
- Times Internet Ltd.
- Walmart Inc.
- Warner Bros Discovery Inc.
- Zee Entertainment Enterprises Ltd.
- Google LLC
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