The woes of the entertainment market continue, largely as a result of consumer reluctance to spend with entertainment retailers. A combination of piracy, free access to streaming services such as Spotify, Grooveshark, YouTube and the BBC iPlayer, and access to free apps and casual online games has reduced the value consumers attach to the ownership of entertainment products. This report on global home entertainment market covers the UK home entertainment industry data as well.
Highlights
- The UK home entertainment market peaked in 2008 at £7.7bn, largely because of an explosion in popularity of video games across 2007 and 2008. Since that year, however, the market has continuously declined. The market was worth £6.1bn in 2011 and we forecast that it will decline by a further 1.8% in 2012.
- The global market peaked at $103.2bn (£66.5bn) in 2008 and we see continual decline to $74.3bn (£47.9bn) by 2015. The global games market is unlikely to return to the high growth rates that it enjoyed in the years after the last batch of major consoles were released
- We predict that 21.4% of UK entertainment sales will occur digitally in 2011 as a result of growing broadband penetration, faster connection speeds, increased use of mobile internet and greater online connectivity of devices such as TVs, tablets and games consoles.
Features and benefits
- Measure demand and future risk with both global and UK home entertainment expenditure split by music, video and video games plus forecasts to 2015
- Understand the strategies and benchmark performance of the major UK operators with market shares, financials, and Verdict's outlook on each
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