The UK looks to be maintaining its position as a leader in the entertainment and media market. In second place there’s Germany, with France trailing behind. In the UK, generated revenue is expected to hit £100 billion by 2027. Germany, which is the second-biggest market for Europe is expected to reach £83.1 billion with France coming in at £54.6 billion. By 2027, it’s expected that these markets are going to grow even more, with Germany reaching £90.8 billion and France hitting £61.1 billion.
Internet Access is A Driving Factor Behind Rapid Growth
One of the driving factors behind the rapid growth in the UK entertainment market would be internet access. Internet access helps to make entertainment more accessible too, making it much easier for people to view the content they want, on demand. With an internet connection, people can explore online slots at Betfair and stream their favorite shows on Netflix.
Games like Ghost of Dead can also be played on mobile, with Netflix offering people the chance to download their favorite shows so that they can watch them when out of signal. As a whole, internet access in the UK has helped the market to thrive, especially when you look at the fact that mobile internet is set to overtake broadband as the biggest contributor to internet access revenue. It’s anticipated that by 2027, mobile internet will contribute to 55% of total access revenue. The growth of various data services is also going to double by 2027, with a lot of this being attributed to streaming services.
Exploring the EU’s Strong Virtual Reality Market
The VR market in the UK is also thriving. It’s currently anticipated to hit £2 billion in 2027 with a CAGR rate of 10%. According to Statistica, Germany also has a strong VR market, especially in the creative media, healthcare, finance, and automotive sectors. The combination of AR and VR has helped Germany to solidify itself as a true contender when it comes to a leader in VR, but right now they are facing a knowledge gap.
This is especially the case when it comes to the cutting-edge skills that AR and VR development needs. Germany is not known for outsourcing tech jobs, but they have made huge leaps in the past. In France, the VR market is also very strong. The number of VR software users in France is set to reach 7.7m by 2028, showing that as time goes on, the adoption of virtual reality is increasing.
With the VR sector linked heavily to movies and games, it’s evident that the countries that are adopting VR the most, are seeing more revenue generated by the entertainment market.
With the EU as a whole competing for the top spot when it comes to leading the entertainment market, it’s safe to say that there are a lot of positive trends appearing in the market. With that being said, the UK is currently leading the charge when it comes to leading the sector as a whole.
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