Production volumes of audiovisual and broadcasting in the US have demonstrated a general upward trend from 287.85 billion USD in 2013 to 397.24 billion USD in 2023, a notable recovery from the 2020 dip due to the pandemic. In 2023, the production value stood at 397.24 billion USD. Analyzing year-on-year variations, there was a significant recovery post-2020 with a spike in 2021 (25.6%). However, the growth slowed to 2.03% in 2023. The five-year compound annual growth rate (CAGR) from 2018 to 2023 was 2.3%. A forecasted five-year CAGR of 1.55% suggests moderate but steady growth through to 2028, with the market expected to reach 438.95 billion USD.
Future trends to watch for include advancements in AI-driven content creation, the continuing shift towards over-the-top (OTT) streaming services, and the potential impacts of emerging technologies such as virtual reality (VR) and augmented reality (AR) on production and broadcasting capabilities.
