Media industry braces for post-pandemic reality – By Sara Fischer (Axios) / June 3 2021
Gaming, on mobile and PCs, is by far the fastest-growing sector globally within the media and entertainment industry, data from PwC finds. Streaming video is also experiencing explosive growth.
Why it matters: While these sectors were always poised to get bigger as the internet developed, the pandemic has seriously expedited their growth, forcing the world’s biggest media companies to reorient their businesses faster than many were prepared to do.
Driving the news: A slew of new media mergers shows that entertainment giants are moving quickly to consolidate even further in order to have enough content at scale to compete in streaming.
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