This year has been a difficult one for many industries; however, the Media & Entertainment TV (MEM TV) industry is showing remarkable resilience. As 2020 comes to a close, MEM TV markets appear to be entering a bullish mode.
The MEM TV market is a diverse one, with services ranging from streaming networks like Hulu and Netflix to traditional cable networks. Despite global economic uncertainty, the market is seeing growth. Revenue for MEM TV services has grown by an impressive 12% this year, with streaming networks leading the charge.
In fact, streaming networks have seen growth of 10% already this year, and are projected to double their current revenues by 2022. This growth is being driven by increased access to streaming services, as well as the emergence of new content. Many streaming networks now offer original content that viewers can’t get from cable networks, such as the award-winning series “The Mandalorian” on Disney+.
Traditional cable networks are also benefiting from the growth of the MEM TV market, as they are increasingly turning to streaming services to reach newer and more diverse audiences. The traditional cable networks ABC, NBC, and Fox are all offering their content through streaming services such as Sling TV and YouTube TV.
Given the strong growth of the MEM TV market, it is no surprise that investment in the sector is on the rise. Companies such as AMC Networks, NBC Universal, and ViacomCBS are all investing heavily in the sector. This investment is likely to bring further growth to the market, as these companies invest in new content and services that will attract more viewers.
Overall, the MEM TV market is proving to be remarkably resilient in the face of economic uncertainty, and is poised to grow even more in 2021. With increased investment and a range of new content and services, the MEM TV market is in a bullish mode heading into the new year.