2. The Changing Entertainment Landscape

The growing Gen Z market is driving the trend towards a fusion of mobile-first, entertainment and shopping coupled with immersive experiences.

The entertainment industry is experiencing unprecedented growth and transformation, with new opportunities emerging:

• The global entertainment & media market was valued at $2.2 trillion in 2021, and is expected to reach $2.6 trillion by 2025 (PwC)

• Over 6.4 billion smartphone users in 2021, projected to grow to 7.5 billion by 2026 (Statista)

• According to the 2021 Mobile App Engagement Index by Airship, mobile app engagement has grown by 31%, with entertainment apps showing the highest growth in user retention (Airship).

• Live-streaming shopping is seeing MASSIVE growth but is still untapped in the entertainment world.

Gen Z is the driving force in entertainment and consumer trends

• Gen Z (born between 1997 and 2012) accounts for 32% of the global population, possessing a significant influence on entertainment and consumer trends (Bloomberg).

• Gen Z's digital-native nature and affinity for mobile-first experiences provide an untapped market opportunity in the TV and gaming entertainment space (Forbes).

• Gen Z prefers interactive and immersive experiences, with 74% spending their free time online (Pew Research Center, 2018)

• Live shopping (or live commerce) market valued at $60 billion in 2021, is expected to reach $424 billion by 2025 with a CAGR of 42% (Coresight Research), with Gen Z users driving significant growth (especially in Asia and eventually to the West).