The Media and Entertainment Gross Value Added (GVA) in France exhibited significant fluctuations over the last decade, with a notable uptick from 22.68 billion euros in 2013 to 27.6 billion euros in 2023. After a strong increase in 2017 (7.22%), the market faced a dip in 2020 (-5.22%) due to challenges likely attributable to the COVID-19 pandemic. However, the industry rebounded in 2021 with an 8.7% growth, though this was followed by another drop in 2022 (-5.44%). The year 2023 saw moderate recovery with a 2.95% year-on-year growth.
The forecast indicates a steady annual growth rate with a 5-year Compound Annual Growth Rate (CAGR) of 0.8%, projecting the GVA to reach 29.02 billion euros by 2028. This highlights a consistent albeit modest increase in the value creation within the French media and entertainment sector.
Future trends to watch for:
- Growth in digital and streaming services, largely driven by changing consumer behaviors and technological advancements.
- The impact of regulation and policy changes on traditional media and new-age digital platforms.
- Expansion of the gaming industry and immersive media experiences through augmented and virtual reality.
- Shifts in advertising revenue patterns, especially with the rise of programmatic advertising and data-driven marketing strategies.
