The media and entertainment output in Belgium measured in billion Euros showed steady growth from 2013 to 2019, with a significant dip in 2020 due to the pandemic, dropping by 11.1%. The sector rebounded strongly in 2021 with a year-on-year growth of 13.38% and continued its upward trend into 2022. By 2023, the output stood at 8.21 billion Euros, slightly down by 0.12% from the previous year. Looking ahead to 2024 and beyond, the forecasted growth remains positive with an annual CAGR of 1.13% over the next five years, indicating steady but modest growth. The sector is expected to reach 8.82 billion Euros by 2028.
Future trends to watch for include the increasing integration of digital media, the potential impact of emerging technologies such as virtual reality and augmented reality, and shifts in consumer preferences towards on-demand and streaming services. These factors could drive innovation and further growth in the sector.
