Film Industry to See Steady Growth Over Next Decade
A new report from Swapnil Patel of Evolve Business Intelligence projects that the global motion picture industry, valued at $54.74 billion in 2023, is expected to grow at a compound annual growth rate of 6.10 percent by 2033 Technological advancements, such as digital filmmaking, special effects, and high-definition formats, significantly impact the industry by enhancing the quality and experience of films, the report says. The rise of streaming platforms has revolutionized film distribution, providing audiences with greater accessibility and convenience, and prompting shifts in consumer preferences towards on-demand content.