The European entertainment industry is expected to see a CAGR of 7.7% during the period (2019-2025). In the European entertainment industry, the online video streaming industry is growing at an exponential rate in the region. Amazon, Netflix, Roku, and Apple TV are some of the major companies contributing to the European online video streaming industry. According to the European Audiovisual Observatory, the subscription video-on-demand is growing at a faster rate in Europe as compared to the US. In addition, the fast-growing online video advertising format is likely to further reinforce the internet’s competitive advantage. Even amidst the economic crisis around the globe, the online video streaming industry is growing at a must faster pace. YouTube and Netflix have reduced the quality of its videos to cater to the increased usage of the apps after the outbreak of the COVID-19 pandemic.

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The European 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 COVID-19 pandemic.

COVID-19 outbreak has severely impacted the European countries including Spain, Italy, Germany, France, UK, Turkey, and Switzerland. Partial and complete lockdown from the UK government has hit the entertainment industry. Stern measures from the Government of UK were taken due to growing positive COVID-19 cases and rising mortalities in the region. Major theatres, sports events, and amusement parks have been shut down to contain the COVID-19 pandemic. However, the online video streaming industry is projecting a considerable growth in UK.

Some of the companies operating in the European entertainment market and get prominently affected by this outbreak include Cineuropa, Cineworld Group PLC, Filmdoo, Efteling, and PortAventura. Cineuropa, a European cinema press agency, announced the postponements and cancellation of film events in Europe. This has indeed impacted the European film industry to a large scale. However, the regulatory bodies are coming up with new programs and announced measures to support the Film industry of the region.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the European entertainment industry. The study is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data. Different approaches have been worked on to derive the market value and market growth rate. In the report, the analysis of the country is provided by analyzing various regional players, laws and policies, consumer behavior and macro-economic factors. The report includes analysis of different regions and countries and the effect of COVID-19 on entertainment industry of each respective region. Besides, an expected recovery timeline of the industry will also be included with the best- and worst-case scenario which will aid clients to take their future steps in the decision-making process.

Sources Include

• Financial reports of companies involved in the market
• Whitepapers, research-papers, and news blogs
• Company websites and their product catalog
• Government Organizations Reports

The report provides an in-depth analysis on market size, intended quality of the service preferred by consumers. The report will serve as a source for 360-degree analysis of the market thoroughly integrating different models.

The Report Covers

• Comprehensive research methodology of European entertainment Industry.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting European entertainment Industry.
• Insights about market determinants which are stimulating European entertainment Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.