According to a recent report by PwC, revenue from streaming platforms like Netflix, Prime Video, and Disney+ is expected to surpass traditional television revenue in Spain by 2026, reaching €3.303 billion. This marks a significant shift in the entertainment landscape, as the OTT sector has doubled in size since 2020 and grew 27.3% in 2023 alone.
The report predicts that the overall entertainment and media industry in Spain will grow at an annual rate of 2.6% over the next five years, outpacing the national economy. Globally, the sector is projected to expand by 3.9% annually.
Artificial Intelligence (AI) is highlighted as a key growth driver, enhancing content creation and operational productivity across the industry. The study also notes a robust recovery in the global entertainment sector, which rebounded by 5% in 2023 to reach $2.8 trillion after a decline in 2020.
In Spain, the online advertising market is set to grow by 7.3% annually, with revenues expected to rise from €4.58 billion to €6.521 billion by 2028. Additionally, revenue from music, radio, and podcasts is projected to increase significantly, with podcast listenership surging by 90% in 2023.
As the industry evolves, traditional media faces challenges, but the report emphasizes that the cinema sector is recovering strongly, with box office revenues reaching €515 million in 2023 and expected to grow to €702 million by 2028.