The creative industry operates a wide range of economic activities which are concerned with the generating and exploitation of knowledge and information. The creative industry encompasses a lot of creativity such app, music, video and film, design, publishing e.t.c Because of how incredibly expansive and deregulated the industry is, it may seem like there is no need to invest in the industry because we feel so many people are already doing it. However, expanding at an even more rapid pace, entertainment can be a huge area of investment for businesses and individuals.
The global entertainment industry derives about $2.1 trillion annually. The American industry alone is reported to be worth over $720 billion . A revenue worth over $59.62 billion is what Alphabet, the owner of Google dominates the entertainment market with. In the global entertainment industry; the Walt Disney company Revenue is at $22.45 billion revenue. The entertainment industry is the fastest growing global economic sector, which definitely means when done right, investors stand a greater chance to gain handsome returns; because obviously, there is still so much untapped potential.
Investing in the entertainment industry is a great opportunity that should be leveraged on now that the limits to what is obtainable are undefined. The growth rate of the industry is unpredictable this is because of new innovations and new opportunities).
Although, one thing is certain; the industry has it ups and down and there could be some risks involved in investing if not more.
When entertainment is mentioned a lot of people tend to think only of movies and music but to be honest there is so much to the industry than most people realise. For example TV is a growing sector , more people are watching their favourite shows on TV and online streaming platforms like Netflix. People are attending concerts and theatres instead of going out to the movies, same with music. There’s more to this sector than just the normal artist release yearly.
One out of many reasons why the entertainment industry is so popular is its ability to cater to people’s emotions; watchjing a TV program or listening to music can impact the type of experience people have throughout the rest of their day. Highly intuitive industries are also very much and extremely profitable. As much as people may not be using an entertainment product directly you can definitely feel it’s presence in other areas of their lives.
We have mentioned that the entertainment industry is one of the most profitable industry. Experts project that the entertainment industry may be even more profitable than technology. Profits are measured as percentage of revenue in other industries but with the entertainment industry, profits are measured as a percentage of growth.
In conclusion, if you want to invest in the entertainment industry, now is the best time to do so. Make sure to do your research before investing.