Asia-Pacific entertainment industry is expected to see a CAGR of 11.5% during the period (2019-2025). Asia-Pacific entertainment industry is one of the most severely affected regions across the globe with a major impact in economies such as China, Japan, South Korea, and India. The entertainment industry will continue to reflect the impact of COVID-19 in 2020. China was the first economy that was severely hit by COVID-19 as the country was the epicenter of the COVID-19. Lockdowns and restrictions on flights and transportation in major Asia-Pacific economies such as China, Japan, South Korea, India, and Australia have jolted the entertainment industry. Amid COVID-19 pandemic temporary or complete lockdowns have been implemented across the Asia-Pacific region that impacted the operations of entertainment industry players.  

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Asia-Pacific entertainment industry is segmented into online video streaming, amusement parks, theatrical & film productions, sports, and live events and trade shows. Based on the segmentation, the live events and trade shows industry is expected to get highly affected due to the outbreak of a pandemic. The major factor for the downfall of the live events and trade shows industry includes stern government restrictions for the travel and tourism coupled with the practice of social distancing, regarding the rapidly spreading COVID-19 across the globe. It is expected that the restrictions on large gatherings will be in place for some more time, which will result in lower attendance at events. Moreover, the amusement & theme parks is another industry vertical significantly affected by the COVID-19 pandemic. Theme parks across the globe have been closed to prevent the COVID-19 pandemic.

The major economies that are contributing into the growth of Asia-Pacific entertainment industry include China, Asia-Pacific, and Japan. As per OMR analysis, China held the highest market share of 45% in the Asia-Pacific entertainment industry in 2018. The market growth in China is attributed to the one of the fastest-growing film industries, globally. Furthermore, India is expected to grow at the fastest growth rate of 13.9% during the forecast period. The market growth in Asia-Pacific is attributed to the increasing internet consumption through multimedia streaming apps on mobile and computers, there are serious chances of a breakdown of the telecom network.

Major entertainment companies operating in Asia-Pacific include Alibaba Pictures Group, Eros International Media Ltd., Fantawild Holdings Inc., Sony Corp., and Universal Studios Singapore. These companies have reported huge loss in the amusement parks, theatrical & film productions, sports, and live events and trade shows segments, whereas the company’s having operations in the online video streaming market have seen a huge growth amidst the pandemic. For instance, Sony Corp. expects that the outbreak of COVID-19 could have material impact on its financial results. The company reported a drop in fiscal third quarter on stumbling video game, networking, and film businesses.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the Asia-Pacific entertainment industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on entertainment industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of Asia-Pacific entertainment Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting Asia-Pacific entertainment Industry.
• Insights about market determinants which are stimulating Asia-Pacific entertainment Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.