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VR content gains popularity in the media market to create an impact on audiences

Virtual reality (VR) is increasingly being adopted by the TV and radio broadcasting industry to create a potential impact on audiences. Media marketing strategy includes live events such as sports and music are expected to boost the demand for VR adoption during the forecast period, by helping audiences to connect with major events through a dynamic environment. For example, NexTVR, a virtual reality platform for delivering live content, streamed Daytona 500 and a democratic debate. It also partnered with an events company Live Nation to broadcast live music to music fans worldwide. The rise in demand for VR content is expected to drive the market going forward.

The global media market size is expected to grow from $1.99 trillion in 2021 to $2.23 trillion in 2022 at a compound annual growth rate (CAGR) of 12.2%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global media market share is expected to reach $3.68 trillion in 2026 at a CAGR of 13.3%.

Media market analysis shows that autonomous drones are becoming popular among mainstream and indie film and video makers as they enhance film viewing experience cost-effective, lightweight, and reduce risks associated with cranes and cable cams during filmmaking. Autonomous drones are flying gadgets equipped with multiple rotors, a built-in high-resolution camera, and algorithms for capturing videos and pictures. It offers a 360-degree experiential recording experience with minimum human intervention. They are used to capture aerial shots, taking footage and images without having a cameraman on an actual helicopter. For instance, major companies offering autonomous drones are DJI, Parrot, Yuneec, Kespry, Insitu, and EHANG.

Major players covered in the global media industry are Google, Facebook Inc., AT&T Inc., Netflix Inc., The Walt Disney Company, Apple, Tencent Holdings Co Ltd, CBS Corporation, Charter Communications Inc, and Sony Corp.

TBRC’s global media market research report is segmented by type into TV and radio broadcasting, film and music, information services, web content, search portals and social media, print media, cable and other subscription programming, by revenue model into subscription, advertisement, sponsorship, others, by application into wired, wireless.

Media Global Market Report 2022 – By Type (TV And Radio Broadcasting, Film And Music, Information Services, Web Content, Search Portals And Social Media, Print Media, Cable and Other Subscription Programming), By Revenue Model (Subscription, Advertisement, Sponsorship), By Application (Wired, Wireless) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a media market overview, forecast media market size and growth for the whole market, media market segments, geographies, media market trends, media market drivers, restraints, leading competitors’ revenues, profiles, and market shares. EIN Presswire

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