North American entertainment industry is expected to see a CAGR of 9.8% during the period (2019-2025). North America comprises the major economies of the globe which include the US and Canada. North American region has the largest entertainment industry across the globe attributed to the existence of the most popular amusement parks, theatrical and film productions, sports, and live events and trade shows. The most visited amusement park across the globe is the Magic Kingdom at Walt Disney World in Lake Buena Vista, Florida as per TEA with 20.9 million visitors in 2018, a 2.0% increase in audience from 2017. The world’s second most visited amusement park is Disneyland Park at Disneyland Resort, Anaheim, California with 18.7 million visitors in 2018. However, the outbreak of the COVID-19 pandemic leads to the widespread cancellation of sporting events and other communal entertainment which has affected the economy of the region. However, due to the COVID-19 outbreak, various online content production companies have stopped shooting all scripted TV shows and films in the US and Canada starting from March 16, 2020. The shows postponed due to coronavirus are Stranger Things 4 and Sex/Life starring Sarah Shahi.

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North American 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.

COVID-19 outbreak has severely impacted the North American countries including the US and Canada. The US contributes majorly to the North American entertainment industry. Improving business investment combined with strong consumer spending aided GDP growth. Before the outbreak of the COVID-19 pandemic, the US entertainment industry was growing considerably owing to the growing consumer base and growing disposable income in the country. The US is among the highly affected economy due to the outbreak of COVID-19. Amusement parks are closed, and sports, live events, and trade shows are canceled and postponed due to the COVID-19 pandemic. This will impact the US economy growth as the entertainment industry plays a large role in the US economy.

Some of the companies operating in the North American entertainment market and get prominently affected with this outbreak include Netflix Inc., Paramount Pictures, Walt Disney Co., and Six Flags America. For instance, on March 30, 2020, Six Flags America announced to temporarily suspend its operations and will open in mid-May, or as soon as possible thereafter. For guests with prepaid tickets, the valid dates have been extended to the end of the 2020 season.

Research Methodology

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