The US entertainment industry is expected to see a CAGR of 9.8% during the period (2019-2025). 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 confirmed its first case of the coronavirus on January 21, 2020. After that the government-imposed lockdown across the country to contain the infection. The US is among the highly affected economy due to the outbreak of COVID-19. Similar to other industries, the entertainment industry is also negatively affected by the COVID-19 pandemic. 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.

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US 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.

Moreover, the major US-based entertainment companies such as Netflix Inc. Amazon Web Services, Inc., Paramount Pictures, Walt Disney Co., and Six Flags America., are facing the significant impact of the COVID-19 outbreak that further affect the entertainment industry in the country. For instance, in March 2020, Amazon Web Services, Inc. launched sketch comedy series, The ‘Kids in the Hall’ on Prime Video. The ‘Kids in the Hall’ will be the first Canadian Amazon Original series and follows the release of Amazon Original series that has been launched across the globe in countries including Brazil, France, Germany, India, Italy, Mexico, Japan, Spain, the UK, and the US. 

Research Methodology

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