Today, the U.S. entertainment industry is focused on businesses that produce and distribute motion pictures, television programs and commercials that connect with music, audio recordings, radio, publishing, and games. The entertainment market currently represents about a third of the global industry and is the largest media market worldwide that “expects to reach about $546 billion in 2014.” This statistic is limited to the film and media sectors that represent the American culture as well as people around the world who are directly involved.
Film: The U.S. film industry supported $31 billion in revenues in 2013 which has moderately increased since 2012. It represents the American diverse cultural segments of film and music. This industry like the high population in foreign markets and also has a very high rate of illegal downloads like movies and music. U.S. exports film and entertainment media is shared in all international markets in excess to 90 percent due to high global interest in the U.S. film entertainment.
Music: In 2013, the music industry reached $15.1 billion which was slightly uptick from the 2012 amount but still much lower than 2008 sales.. The United States continues to be the largest global music market and is essential for companies interested in global operations but European and Asian markets are still strong competition. Digital technologies have overpowered the music industry through creating a high-qualitiy and low cost recording technologies and digital distribution and devices to download and listen to music including Sony Music Entertainment, Warner Music Group and lastly Universal Music Group.
Gaining all this insight about the entertainment industry really shows how things can change in such a short amount of time. The amount of money that the film and music industries have both decreased and increased is really interesting how one year everything can be going well for the company and than suddenly can be struggling. I am definitely still listening and learning about the public relations industry though and want to continue to find more information about it.