In its latest Global Entertainment and Media Outlook, 2024-28, PwC analysts indicate growth in advertising spend and data consumption will make UK E&M market the largest in Europe next year
By Matthew Corrigan
Published: August 14, 2024
In its latest Global Entertainment and Media Outlook, 2024-28, PwC analysts indicate growth in advertising spend and data consumption will make UK E&M market the largest in Europe next year
target=_blank title=Share on LinkedIn class=share-linkedin> In its latest Global Entertainment and Media Outlook, 2024-28, PwC analysts indicate growth in advertising spend and data consumption will make UK E&M market the largest in Europe next year
https://www.tvbeurope.com/uncategorized/pwc-uk-media-and-entertainment-market-on-track-to-become-largest-in-europe title=Share via Email class=share-email>
A new report from PwC forecasts the UK will overtake Germany to become the largest entertainment and media market in Europe from next year.
PwC's latest Global Entertainment and Media (E&M) Outlook 2024-2028 report has predicted revenue will break the £100 billion barrier this year, growing to £121 billion by 2028 with a compound annual growth rate (CAGR) of 4 per cent.
The report highlighted that the UK advertising market, already the most digitally mature in Western Europe, will strengthen its position further from this year's £32 billion of spend to £44 billion over the next four years. This represents a CAGR of 8 per cent, one of the highest in the region.
Analysts suggested the growth will be enabled by the service sector (internet access) scaling up from £28 billion this year to £32 billion by 2028, providing the digital infrastructure to meet increased consumption. 5G mobile subscriptions are expected to rise almost threefold over the period, from 36 million to almost 100 million.
Commenting on the findings, Mary Shelton Rose, partner and UK technology, media and telecoms leader at PwC, said, The UK entertainment & media industry has always been at the forefront of technological disruption. To capitalise on the many growth opportunities, it must leverage the power of new and emerging technologies such as GenAI, re-shape its business and creative models, and better leverage technology for advertising. So far, many of the applications of GenAI in the E&M industry have focused on speed and efficiency cost savings. As we look ahead, the industry should further explore how GenAI can lead to greater value creation through experimenting, iterating, and scaling new solutions and processes, which can be monetised to drive top-line revenue growth.
New streaming models will fuel growth While it remains the largest in Western Europe in revenue terms (and third largest in the world behind the USA and China), the UK's over-the-top (OTT) streaming market is facing a slower growth rate, said the report. Increasing competition and rising costs are expected to reduce to a 3 per cent CAGR over the 2024-28 period, down from 20 per cent on the 2019-24 figure. Subscriptions to OTT video services are predicted to show a 6 per cent CAGR, rising from £6.5 billion this year to £8.3 billion in 2028.
The report suggested streamers are looking to consolidate their positions and reshaping business models to find additional revenues beyond subscriptions, including the introduction of live sports, ad-based variants and cracking down on password sharing. By 2028, advertising will account for 30 per cent of UK OTT streaming revenues, said the report, rising from 24 per cent this year.
Ben Bird, entertainment and media sector leader at PwC UK, said, Despite the OTT market being extremely competitive and mature, revenue has expanded rapidly in recent years with the market nearly doubling in size since 2020 thanks in part to the accelerated growth experienced during the pandemic. Prices have risen for several major platforms and despite the difficult macroeconomic environment, the market has continued to flourish. Operators are leveraging their content rights and original productions to boost take up, leaving consumers needing to subscribe to multiple services or rotate platforms to access the content they desire, such as sports streaming with English Premier League football spread across three different streaming platforms. The option to have ad-supported plans is also driving growth, in some cases offering the chance to subscribe for slightly less.
PwC: Ads will make up a quarter of streamers' revenues by 2028
Europe Stories
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
02/05/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
01/05/2026
January 5 2026, 18:30 (PST) NBCUniversal's Peacock to Be First Streamer to ...
15/04/2026
Two Cities Television and Keeper Pictures to produce six-part series in association with Screen Ireland for RT and ITV Studios
RT has commissioned Two Citie...
15/04/2026
RT 100
RT unveils The Signal' a specially commissioned 60-second film
...
14/04/2026
ToolsOnAir and Omnistream Bring Mobile SRT Contribution into Professional 24/7 P...
14/04/2026
Captures a trio of renowned polysynths
The latest software to join AIR Music Tech's extensive catalogue captures the sound of three sought-after polysyn...
14/04/2026
Free offering includes 10 powerful plug-ins
United Plugins have announced the launch of a new bundle that brings together 10 of their pro-audio plug-ins, an...
14/04/2026
Julian Coryell joins virtual session player line-up
Announced at NAMM 2026, Celemony's Tonalic kits DAW users out with real performances by world-class ...
14/04/2026
X-Rite Pantone Color Academy Grand Opening in Shanghai
On March 27, 2026, X-Rite Pantone, the global authority in color standards and color science, held the...
14/04/2026
14 Apr 2026
VEON and JazzWorld Receive Competition Commission of Pakistan Appro...
14/04/2026
Tuesday 14 April 2026
Nicola Coughlan and Aimee Lou Wood to host next two episo...
14/04/2026
Lead writer and executive producer Jack Lothian joins alongside lead director Je...
14/04/2026
Wuppertal April 14, 2026
Thomas Riedel Acquires Premium Manufacturer ARRIStrategic Alignment With the Riedel Group for Innovation and Growth
Thomas Riedel, f...
14/04/2026
New Service Simplifies Integration of AI Applications with Exceptional Reliabili...
14/04/2026
Luxembourg, April 14, 2026 - SES, a leading space solutions company, today annou...
13/04/2026
ToolsOnAir Composition Builder 2026 Boilerplate
More Details: The Composition Builder 2026 application for macOS enables TV stations and Live Event broadcast...
13/04/2026
ToolsOnAr just:live pro 2026 Boilerplate
More Details: just:live pro 2026 is a Multi-Channel Live Production Playout solution for video and static or real-ti...
13/04/2026
ToolsOnAr just:play pro 2026 Boilerplate
More Details: just:play pro 2026 is a Multi-Channel automated 24/7 Master Control playout solution with SD, HD and U...
13/04/2026
ToolsOnAr live:cut 2026 Boilerplate
More Details: live:cut is an option to just:in mac pro 2025 and enables multicamera production workflows for up to 16 cam...
13/04/2026
ToolsOnAir Just In Mac Lite NDI 2026 Boilerplate
More Details: The Just In Mac Lite NDI application is a streamlined media capture solution designed specific...
13/04/2026
ToolsOnAir Just In Mac Lite 2026 Boilerplate
More Details: The Just In Mac Lite application is a streamlined media capture solution designed specifically for...
13/04/2026
ToolsOnAir just:in mac pro 2026 Boilerplate
More Details: just:in mac pro is a macOS-based client-server multichannel capture solution to record SDI, HDMI, N...
13/04/2026
Intuitive EQ plug-in gets an upgrade
Following its official launch back in February 2026, Musik Hack's intuitive EQ plug-in has been treated to its firs...
13/04/2026
Flagship soft synth collection expanded
The latest version of UVI's flagship vintage-inspired soft synth collection has just arrived, expanding the suit...
13/04/2026
Free version of innovative string library arrives
Released in October 2025, Lux Orchestral Strings was said to be Sonuscore's most ambitious library to ...
13/04/2026
The Girls' Research Camp is part of the Technology - Future in Bavaria edu...
13/04/2026
Rohde & Schwarz transforms submarine communications for real time underwater dom...
13/04/2026
Rohde & Schwarz enables Pulsar signal simulation to support next-generation navi...
13/04/2026
The search for Ireland's newest country music star is live on Friday 17 Apri...
13/04/2026
Monday 13 April 2026
Global environmental action NGO WRAP brings recycling to l...
13/04/2026
J nger Audio has joined the EBU ADM Implementers Group (ADM-IG) as a founding me...
13/04/2026
FOX Latin America Announces The Launch Of The FOX Channel In Central America And...
13/04/2026
No amps, no safety net The biggest challenge was the music itself. Everything in the film is acoustic and unamplified. The theme itself is kind of hard to expl...
13/04/2026
RT Radio 1 has today launched a significant step in its ongoing strategic evolution. Following the launch of its brand-new schedule late last year, RT Radio 1...
13/04/2026
The Late Late Show Opening Act, the search for Ireland's newest country musi...
13/04/2026
RT has today announced the appointment of Annemarie Britz to the position of Chief Financial Officer, RT following a public competition.
Annemarie Britz is c...
12/04/2026
Headphone system designed for immersive monitoring
With the demand for immersive audio showing no signs of slowing down, lots of companies are turning their...
11/04/2026
Engineer collective welcome Freddy Knop
Infrasonic, an award-winning collective of audio engineers operating out of Nashville and Los Angeles with credits r...
10/04/2026
After launching the Spotify Podcast Awards in Mexico last year, we brought the fan-voted celebration to Paris this week for its first edition in France. Hosted ...
10/04/2026
Powered and unpowered live PA ranges upgraded
Yamaha have just refreshed four of their hugely popular PA speaker ranges, delivering significant improvements...
10/04/2026
Underlying plug-in & VI technology now available to others
UJAM's latest announcement sees the company open up' Gorilla Engine, the development pla...
10/04/2026
Luxembourg, April 10, 2026 - SES, a leading space solutions company, announces that it has entrusted BNP Paribas with the implementation of a liquidity agreemen...
10/04/2026
What can I watch on UKTV and stream on U this week?
This week on UKTV and the free streaming service U, viewers can watch a range of new and returning programm...
10/04/2026
Five-part Sky Original drama airs nightly on Sky Mix and Sky Atlantic from 20 Ap...
09/04/2026
Staines-upon-Thames, UK, 09, April, 2026 - Yospace, the trusted leader in Dynam...
In its latest Global Entertainment and Media Outlook, 2024-28, PwC analysts indicate growth in advertising spend and data consumption will make UK E&M market the largest in Europe next year
