Latest news with #live events
Yahoo
6 days ago
- Business
- Yahoo
AI-powered ads to drive growth for global entertainment and media industry, PwC says
By Harshita Mary Varghese -Growing use of artificial intelligence in advertising is expected to boost the global entertainment and media industry's revenue to $3.5 trillion by 2029, according to PwC. The industry is projected to record a compound annual growth rate of 3.7% until 2029, the consulting firm said in its Global Entertainment & Media Outlook 2025-29 on Thursday. The growth will also be supported by non-digital categories such as live events. WHY IT'S IMPORTANT Economic uncertainty from inflation and shifting trade policies are prompting consumers to cut back on non-essential spending, pressuring entertainment subscriptions, movie outings and digital media. At this time, advertising is emerging as a significant driver of revenue growth for the industry at-large, PwC said. BY THE NUMBERS Digital formats, which accounted for 72% of overall ad revenue in 2024, will rise to 80% in 2029, with new technologies including AI and hyper-personalization expected to drive more end-market uptake, the report said. Ad revenue from connected TV is expected to rise to $51 billion in 2029, driven by higher digital engagement, PwC said. The industry is also set to benefit from strong video games revenue, which is forecast to grow to about $300 billion in 2029. KEY QUOTES "There's certain general macroeconomic pressures on individuals, families and advertising starts to subsidize a lot of that," said Bart Spiegel, global entertainment and media leader at PwC U.S. The industry "has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content," Spiegel said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Irish Times
21-07-2025
- Entertainment
- Irish Times
Why did CMAT have to sell out the 3Arena before she could get exposure on Irish radio?
Two reports published this month tell an interesting story about the Irish music industry. One by the Irish Music Rights Organisation (IMRO) and compiled by CORE Research, showed Ireland's music industry generates €1 billion annually. The average adult in Ireland spends almost €1,000 on music-related products and services annually. In 2024, €375 million was spent on streaming services in Ireland, with €786 million spent on live events. The industry employs more than 13,400 people, but only 43 per cent of those working in the music sector hold full-time positions. This rises to 68 per cent for IMRO members, who rely on jobs in other sectors. The second report was published by Why Not Her?, an organisation that examines gender disparity in radio play. That report compiled Irish radio play data between January 1st and July 1st 2025. During that period, just 14 Irish acts appeared in the top 100 most played songs on Irish radio, while the other 86 per cent of the top 100 chart was made up of international acts. Only three female solo Irish artists featured; CMAT , Jazzy, and Allie Sherlock. Contrast this with the UK. In 2024, UK radio had more women than men in the top 100 for the first time. Woman artists accounted for 41 per cent of the top 100 artists, male artists 39 per cent, with mixed-gender collaborations at 20 per cent. In 2023, 48 per cent of artists played on radio there were UK artists. When it comes to Irish radio play, we have a gender, genre, and geographic issue. READ MORE In 2020, Eamon Ryan shot down the idea that there could be a quota for music by Irish artists on radio. In 2016, a bill calling for a 40 per cent quota of Irish music on radio was defeated in the Dáil. While we don't necessarily need a legislative or regulatory commitment (although that is something Comisiún na Meán could consider), there is nothing stopping stations themselves from making a policy commitment. I gave Molly King – the head of development at Other Voices , an entity that has long-championed and platformed Irish talent, both emerging and established – a call to discuss this. The importance of radio play is multifaceted, but King pointed out that at a fundamental level, 'radio play is still a viable source of income for artists in a way that streaming obviously doesn't deliver'. She articulated a 'disorientating' feeling when considering the support for Irish artists on UK radio, particularly the BBC. 'And the thing is,' King says, 'a lot of these acts Irish radio are not playing are commercially successful musicians. Festivals book so many Irish acts. You can stack Irish headliners and still sell tickets in a way that feels consistent. But we have this cultural aversion on commercial radio to playing Irish. Nobody seems to be able to explain it to me. It's a disconnect. Why is CMAT reaching the level she is at now on Irish radio, after she has sold out the 3Arena? Because she has become unignorable? UK radio has embraced her for years. This thing of 'we will pay attention to you when other people pay attention to you'? I don't get it. It hasn't changed enough on Irish radio over the years. It would benefit the stations. It would benefit the brands of stations. It's easy. Just do it.' The DJs and stations that do play Irish artists consistently need to be commended. But we need more of it, particularly across commercial radio, and especially to address the gender disparity. The Irish artists that fill arenas around the world today didn't arrive fully formed. They developed. Yet during that development, something many of them tended to lack as they progressed is consistent Irish radio play. [ Irish female artists make up just 2% of most-played songs on Irish radio in past year – report Opens in new window ] While I would love this context to change overnight, an easy commitment Irish radio could make would be to choose a few of weeks of the year to play only music of Ireland. This should be diverse in gender, genre, and geography. [ New Irish albums reviewed: Sons of Southern Ulster, Poor Creature, Darragh Morgan, The Swell Season and California Irish Opens in new window ] The artists we love have created an incredible wave of contemporary music and send their creative transmissions around the globe. But we need to amplify them on Irish radio – not from a position of territorialism or nationalism, but from one of support and pride. Quality is not an issue. There is plenty of it. Changing this matters for musicians' incomes, prospective opportunities, exposure and affirmation. It would be a validating exercise for artists, industry and audiences alike. Referencing this year's Glastonbury, King reeled off the names of Irish acts who were the talk of the festival. 'I don't want to get stuck in the 'Irish Wave' thing. What's happening is a steady development and self-possession of Irish people stepping into their culture instead of feeling obliged to imitate. There's a degree of confidence ... That should really be translated to radio. That loop needs to be connected. It feels like the last node in the circuit. If we supported our artists the way BBC 6 Music supports UK artists, we would be off to the races. These are things that are eminently fixable and we can do them.'
