In 2023, the value added of the motion picture, video, and TV program production industry in the US stood at 89.50 billion USD. The industry is projected to grow steadily from 2024 to 2028, with forecasted increases each year, culminating in 100.27 billion USD by 2028. The year-on-year variation reveals a consistent growth rate of approximately 2.2% to 2.3% per year. The compound annual growth rate (CAGR) for the period from 2023 to 2028 is approximately 2.3%, indicating a stable upward trend in the industry’s value added.

Future trends to watch for include:

Technological innovations such as augmented reality (AR) and virtual reality (VR) enhancing production quality and viewer experiences.
An increase in the consumption of streaming services potentially driving demand in content production.
Shifts in consumer preferences towards diverse and inclusive content potentially influencing production output.