The UK Entertainment Market Market Sizing by Category and Growth Forecasts 2017-2022"
Albany, NY -- (SBWIRE) -- 09/17/2017 -- "The UK Entertainment Market 2017-2022", is part of GlobalData Retails sector analysis series, providing a detailed analysis of the entertainment market, forecast to 2022. The report provides quantitative and qualitative analysis of the UK market, evaluating major trends, consumer attitudes and an in-depth analysis of key market players.
The UK retail entertainment market, which excludes streaming services, is forecast to decline over the next five years. All subcategories within the market are expected to decline by double digits between 2017 and 2022. Download music will fare the worst over this period; this comes as its principal retailer, Apple, continues to shift focus away from this category. Apples focus is shifting away from download music, demonstrated by the discontinuation of its iPod Classic in 2014, followed by the Nano and Shuffle in 2017. With a limited number of MP3 players available, as well as the consumer movement towards music streaming services, the download music market will become almost redundant within the next five years.
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The report provides a comprehensive analysis of the following -
- Key issues in the market and success strategies
- Market sizing by category and growth forecasts
- In-depth profiling of major retailers including market share and outlooks
- Consumer analysis detailing how, where and why consumers are buying entertainment products
- Video is the largest category within the retail entertainment market, contributing around 60% of the total revenue. This is primarily made up of physical video formats; DVDs and Blu-rays. The download market peaked in 2015 and has been in decline ever since. The success of the video market relies on the popularity of new releases, however in the last year a number of titles performed poorly in the cinema, leading to weak DVD and Blu-ray sales.
- Discounters share of the entertainment market is forecast to grow over the next five years. This is in part due to an anticipated fall in real income, meaning consumers will have less money to spend on discretionary purchases such as entertainment goods and will therefore be inclined to trade down, buying cheaper, older releases from discounters. Retailers such as B&M and Poundland stock a broad range of DVDs and CDs in most stores.
- Consumers are increasingly content with streaming music rather than owning it - over a quarter of consumers surveyed felt there was no point in owning music anymore. Furthermore almost a third stated they felt subscription services (such as Spotify) are the future of buying music. Though the market decline is slowing, consumers continue to shy away from purchasing physical music as using subscription services becomes the norm with more retailers investing in this service.
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Reasons to buy
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- Realise the strength of the online entertainment market, reviewing retailers who are growing online market share and using their tactics to develop your own online strategy.