New York, USA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global post production market is projected to generate a revenue of $25,463.6 billion by 2026, growing at a healthy CAGR of 5.7% during the forecast period 2019-2026. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the analysis timeframe. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
Download a Comprehensive PDF Sample of COVID-19 Impact on Post-Production Market
Factors Impacting the Market Size Pre and Post the Covid-19 Pandemic
According to the report, the real-time market size has considerably decreased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $8,207.1 million in 2020, while its estimations were $18,237.9 million in the pre-pandemic scenario. Strict lockdowns and travel restrictions imposed by governments worldwide led to decreased labor force on the movie sets and resulted in a halt in movie production. These factors are predicted to impede the growth of the global post production market during the analysis period. In addition, the complex and time-consuming operational procedures of the post-production stage is yet another factor to hamper the market growth by 2026.
Factors Impacting the CAGR Figures Pre and Post the Covid-19 Pandemic
As per the report, the global post production market is estimated to grow at a CAGR of 5.7% during the analysis years, while it was anticipated to be 4.4% in the pre-pandemic scenario from 2019-2026. Increasing demand for high graphics and 3D picturization and a lack of highly skilled professionals are the major factors anticipated to hinder the growth of the global post production market during the pandemic. However, the rising adoption of cloud-based platforms in the movie-making industry along with heavy investments by top movie-making houses like Walt Disney, AT&T, Sony, MGM, etc. in the post production stages are the factors expected to boost the market growth during the 2019-2026 forecast years.
Post Pandemic Insight
As per the report, the global post production market is expected to recover by the 1st /2nd quarter of 2023. Due to the pandemic's stress, many key market players had postponed their movie release dates since the post production works like graphics and 3D effects were kept on hold. However, some production companies are now renting new movies online on multiple movie streaming services like Hulu, Netflix, Amazon Prime, etc. This factor is predicted to revive the growth of the global post production market post the catastrophic chaos.
Key Market Players
Some key post production market players include
- AT&T Inc.
- Netflix Inc.
- Eros International Plc.
- Sony Corp.
- Prime Focus Ltd.
- Comcast Corp.
- The Walt Disney Co.
- MGM Holdings Inc.
- Viacom Inc.
- Lions Gate Entertainment Corp., and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in June 2021, Netflix Inc., a renowned streaming media company, announced the unveiling of its first fully-owned post production unit in Mumbai that will consist of 40 offline editing rooms. The facility would have an inspiring and welcoming environment for editors, directors, sound designers, and showrunners to create their work. This strategic activity is expected to further strengthen the market’s growth post the pandemic stress. – Customize Post Production Market Report as per your Format and Definition
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
More about COVID-19 Impact on Post production Market:
- 6 Most Important Stages of Post Production in Filmmaking
- Adoption Of Cloud Services During COVID-19 Pandemic Is Expected To Fuel The Growth Of Post Production Market
