Japan entertainment industry is expected to see a CAGR of 9.8% during the period (2019-2025). Japan is one of the developed economies, contributing significantly to the Asia-Pacific entertainment industry. With the travel restrictions withing the country many entertainment venues and entertainment industry companies in Japan have been temporarily shut down their operations. In Japan, the economic uncertainty has been increased due to the COVID-19 pandemic. The entertainment industry plays an important role in the economy. The COVID-19 outbreak has severely hit the industry of Japan and has led to a decrease in revenue generation in 2020. Amid the COVID-19 pandemic, almost all the entertainment venues have been closed for an indefinite time, including various amusement parks, theatrical and film productions, sports, live events, and trade shows. For instance, the biggest 2020 Olympic Games, Tokyo Olympics, and Paralympics are postponed till 2021 by International Olympic Committee and Japan, which was scheduled to host the games this year in Tokyo.

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Japan 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.

Moreover, the major Japan-based entertainment companies such as JEB Co., Ltd., Legoland Japan Ltd., MRG Enterprise Inc., Universal Studios Japan, Sony Corp., and Toho Co., Ltd. are facing the significant impact of COVID-19 outbreak that further affect the entertainment industry in the country. Sony Corp. expects that the outbreak of COVID-19 could have material impact on its financial results. The company reported a drop in fiscal third quarter on stumbling video game, networking and film businesses. At the outset of 2020, it was pretty much unclear for the company to predict the impact of the virus that led to the nationwide lockdown after then. This brought the company’s image sensor division at risk along with other division including Pictures as well. The company reported a profit of $2.1 billion over October-December 2019, down from $3.9 billion a year earlier. Sony raised its profit forecast for the year through March 2020 to $5.4 billion, up from an earlier projection of $5 billion profit.

Research Methodology

OMR global recently published a report addressing the impact of COVID-19 on the Japan 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 Japan 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 Japan entertainment Industry.
• Insights about market determinants which are stimulating Japan entertainment Industry.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.