Report: UK home ent market set for £5.5bn boost
September 22, 2022
A report, The Evolution of Home Entertainment Report 2020 – 2025, from trade bodies the British Association for Screen Entertainment (BASE) and DEGI: Digital Entertainment Group International, predicts UK category growth of £5.5 billion (€6.3bn) by 2025, a rise of 114 per cent on the pre-pandemic predictions as well as forecast transactional cumulative consumer spend of £2.4 billion by this time.
The report documents the category optimism showcasing the limitless potential of the co-evolution of multiple entertainment formats and channels, evidencing that more than anything this is what consumers want and need.
It has been revealed that consumers are now using all forms of entertainment available to them to meet their varying needs and the home is more central than ever to the entertainment category. Consumers remain dedicated to content, with franchises driving higher spend. Research shows that 87 per cent of consumers identify as a fan of at least one major franchise and with more and more options available to consumers – including 75,000 titles available through transaction in the UK – Brits are spoiled for choice with content.
“The evolution of Home Entertainment is in full force and this report is a bold vision of the category’s future,” stated Liz Bales, Chief Executive of BASE & DEGI. “Built on the pillars of data and analysis that are the foundations of the BASE and DEGI agenda, it envisions a landscape of opportunity for the sector, with predicted UK category growth of £5.5 billion by 2025, a rise of 114 per cent on the £2.5 billion predicted pre-pandemic, and a forecast transactional cumulative consumer spend of £2.4 billion by 2025. Where transactional formats expand to embrace premium, SVoD embraces AVoD, joined by FAST, all offering consumer choice and taking a share of growing consumer engagement”
It is powered by insights, data and expert opinions, laced with honesty about the industry’s challenges while offering a roadmap to sector growth.
Honing in on ten key elements, the report charts category growth driven by diverse channel choice available to consumers, looks at content remaining king, the limitless potential ahead, cinema continuing its legacy as the ultimate release platform, and the transition to the home – which is now much more central to family entertainment consumption than ever. Market and behavioural insights are covered within the report, in addition to growth opportunities, factors of influence and specific territory spotlights from a wide range of contributors, including, Omedia, FutureSource, Kantar, Ampere, BARB, the Motion Picture Association and the International Video Federation and more.
In addition, The Evolution of Home Entertainment Report features perceptive and insightful guest editorials from the British Screen Forum, Digital Entertainment Group and The Digital Entertainment & Retail Association, Official Charts Company and the Intellectual Property Office, to name a few.
“Ever-increasing consumer engagement with in-home viewing has been accompanied by innovation across the sector,” notes Robert Marsh, Chair of BASE & Vice President Commercial, Sony Pictures Entertainment. “BASE, as the champion for the growth of screen entertainment, is perfectly placed and actively working to help realise this growth. I welcome this report at this key time, and, alongside the BASE Board and all its members, I look forward to BASE and DEGI further unlocking the myriad opportunities within the Home Entertainment space. After all, there’s no place like home.”
The Evolution of Home Entertainment report has been sponsored by: BBC Studios, Deluxe, Finest Global Group, Lionsgate, NBC Universal, OC, Sony Pictures, Spirit, Studiocanal, The Walt Disney Company, Warner Bros. Discovery and Zoo.