Germany Entertainment Market Size, Competitive Analysis, Share, Forecast- 2019-2025
Germany entertainment industry is expected to see a CAGR of 7.3% during the period (2019-2025). Germany is the largest economy and one of the most populous countries in Europe. The high population base is one of the major factors for the growth of the industry in the country. The country holds a significant share in the online video streaming industry. The subscription video-on-demand share of total pay-services subscriptions is especially high in Germany. The country has around 2,085 titles available on subscription video-on-demand. Such a large number of availabilities of online content will drive the industry growth amidst the outbreak of the COVID-19 pandemic. The film industry of Germany has seen a downfall in the recent past. According to the European Audiovisual Observatory, the average production budget of films has decreased in Germany with 20.5% in 2017. However, the outbreak of COVID-19 will certainly affect the number of cinema attendance in 2020.
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Germany 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.
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Moreover, the major Germany-based entertainment companies such as Berlin TV Pictures, Europa-Park, Movie Park Germany, and Heide Park Resort are facing the significant impact of COVID-19 outbreak that further affect the entertainment industry in the country. Europa Park in Germany is one of the largest amusement parks across the globe that have attracted nearly 5.7 million visitors in 2018, up 0.4% in 2017, as per TEA. These amusement parks were shut down due to lockdown orders from government bodies to curb the widespread COVID-19 pandemic. Such steps will certainly affect the revenue generation of these entertainment providers.
· Historical Market Growth Estimation in Germany Entertainment Industry Excluding COVID-19 Pandemic Effect
· Deviations in the Germany Entertainment Industry Growth Rate Due to COVID-19 Pandemic
Verticals Affected Most
· Online Video Streaming
· Amusement Parks
· Theatrical and Film Production
· Live Events and Trade Shows
· Berlin TV Pictures
· BMK Media Production GmbH & Co KG
· Heide Park Resort
· IN THEORY GmbH
· Movie Park Germany
· OutreMer Film GmbH
· Silbersalz Film GmbH
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