A new report from PwC says the Polish media and entertainment industry will grow by $ 877 million in 2021 to reach a value of almost $ 10 billion.
The report, “Poland Entertainment and Media Industry Development Outlook 2021-2025,” highlights how each sector of the industry has been affected by the pandemic and how they are recovering.
The video game market in Poland is expected to grow by over $ 50 million this year and an additional $ 200 million over the next four years.
In recent years, Poland has emerged as a leading producer of video games, from CD Projekt Red’s “Cyberpunk 2077” to the myriad of PC simulation games and popular mobile and casual games produced by companies such as Huuuge. and Ten Square Games.
Marcin Sidelnik, partner of PwC, leader of the TMT (Telecommunications, Media and Technology) sector, wrote: “This year is expected to bring a rebound from the declines caused by the pandemic.
“Our analysis shows that the revenues of the media and entertainment sector will exceed those recorded in 2019 and reach almost $ 10 billion.
“As in the rest of the world, OTT (over-the-top) services are developing dynamically in Poland – interest in video content is constantly growing, which is why new players are constantly appearing in the market. . In one year, the value of OTT itself in Poland increased by $ 75 million.
Although the cinema market which has been hit hard by the lockdowns is showing signs of recovery, the segment is still not expected to reach pre-pandemic levels until 2024.
The emergence of popularity of streaming services during the pandemic may persist and this could cause long-term damage to the movie industry.
Sidelnik, added: “Due to the pandemic, consumption of content through electronic channels has increased dramatically and some recipients have definitely changed their habits.
“COVID-19 has led to the development of streaming services and e-book sales, while the development of e-commerce has resulted in the advertising market. “
Despite the growth of streaming services, the traditional TV and video market is also expected to grow, as is the TV advertising market.
There is one industry that appears to be in a terminal decline, the print and magazine industry is expected to continue to decline steadily after experiencing a dead cat rebound this year.
The trend of consumers to engage through online portals is affecting not only the magazine and newspaper industry, but also traditional book sales, while e-book reading and subscription services will expand.