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AI Market in Media & Entertainment to Grow by USD 30.72 Billion (2024-2028) as Multimodal AI Adoption Rises; AI Impact on Market Trends Report – Technavio

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NEW YORK, Oct. 31, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The global AI market in media and entertainment industry size is estimated to grow by USD 30.72 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  26.4% during the forecast period. Usage of multimodal AI in media and entertainment industry is driving market growth, with a trend towards utilization of blockchain. However, reliance on external sources of data to train ai models poses a challenge.Key market players include Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc.

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Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Technology (Machine learning, Computer vision, and Speech recognition), End-user (Media companies, Gaming industry, Advertising agencies, and Film production houses), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Agile Sports Technologies Inc., Amazon Web Services Inc., Autodesk Inc., AutomaticTV, EVS Broadcast Equipment S.A., Gravity Media, GrayMeta, Inc, International Business Machines Corp., LMG LLC, Move Ai Ltd, Pixellot, PlaySight Interactive Ltd., Production Resource Group LLC, Spiideo, Sportway AB, Synthesia Ltd., TAIT, valossa labs Oy, and Veritone Inc

Key Market Trends Fueling Growth

The integration of blockchain technology in the global AI market of media and entertainment industry is experiencing substantial growth. Driven by the necessity for heightened security and content authenticity, this sector is leveraging blockchain’s decentralized and immutable features. Notably, SHIB, an Ethereum-based digital asset family, collaborated in April 2024 to address content security and authenticity concerns using blockchain technology. This partnership aims to secure content from tampering and ensure its veracity. Blockchain technology also presents innovative distribution solutions. Its transparent and traceable transactions streamline the process, ensuring fair compensation for creators and secure content delivery. In an era plagued by digital piracy and unauthorized distribution, this is particularly significant. Moreover, blockchain facilitates new business models and revenue streams, such as content tokenization. This enables creators to issue digital tokens representing ownership or access rights, opening new monetization avenues. The media and entertainment industry’s collaboration with the digital asset ecosystem underscores its proactive approach to adopting blockchain technology. This adoption promises enhanced security, streamlined distribution, and innovative business opportunities, contributing to the industry’s growth and sustainability in the digital age. 

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry. In Film and Television, AI is used for script analysis, storyboarding, and budget management. AI-powered image recognition identifies objects and people in high-resolution camera footage for VFX and virtual creation. Social media platforms leverage AI for predictive analytics and talent discovery. In Music, AI assists with plagiarism detection and content creation. AI’s dialogue skills and speech recognition enhance voice recognition and game play. Sports broadcasts use AI for real-time virtual analysis and fan engagement. Unstructured data and machine learning enable AI to provide fake story recognition and production planning. AI’s natural language processing enhances on-demand streaming services and improves content creation workflows. Overall, AI’s impact on the Media and Entertainment Industry is significant, from content creation to fan engagement, and will continue to shape the future of this dynamic industry. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

The global AI market in media and entertainment industry faces a significant challenge with the reliance on external data sources for training AI models. This issue came to light in November 2023 when a major American media organization filed a lawsuit against leading AI technology companies for unauthorized use of copyrighted content. The lawsuit highlights the growing tension over the exploitation of intellectual property without compensation or acknowledgement. The core challenge lies in the use of vast amounts of published material, such as articles and written works, to develop and refine AI models. These models, which power popular AI platforms, often utilize data scraped from various sources without explicit permission from content creators. This practice raises ethical and legal concerns, leading to an increase in copyright infringement claims. The implications of this reliance on external data sources are far-reaching. It poses a risk of substantial financial penalties and reputational damage for companies involved. Moreover, the accuracy and trustworthiness of AI-generated content can be compromised when models are trained on unauthorized or unverified data. In the media and entertainment industry, where authentic and reliable content is crucial, this issue is particularly problematic. To address this challenge, a balanced approach is necessary. Clear guidelines and ethical standards for data usage are essential to mitigate legal risks and ensure the integrity of AI-driven content. Respecting intellectual property rights while fostering innovation is crucial for the global AI market in media and entertainment industry.

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its ability to provide advanced solutions for various applications. Challenges such as Visual Recognition, Sentiment Analysis, Personality Insights, Tone Analysis, and Sports Analysis are being addressed by AI Algorithms. Hardware/Equipment for AI-Specific solutions are being developed for Live Broadcast, Gaming, and Sports Automatic Productions. AI is also transforming Video Production, Computer-Generated Graphics, and Visual Effects. Sales and Marketing teams use AI for Audience Insights, Voice Data, and Intelligent Home Assistants. OTT Platforms and Online Gaming Experience are enhanced with AI-Generated Live Footage and Hyper-Personalized Content. Pre-Production Assistance, Motion Capture, and Automated Sports Productions are other areas where AI technologies like ML are making a significant impact. Streaming Platforms, Connected Devices, and Real-Time Virtual Worlds are also being transformed by AI. AI is changing the game in Media and Entertainment, from content creation to consumption.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This ai market in media and entertainment industry report extensively covers market segmentation by

Technology 1.1 Machine learning1.2 Computer vision1.3 Speech recognitionEnd-user 2.1 Media companies2.2 Gaming industry2.3 Advertising agencies2.4 Film production housesGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Machine learning-  The media and entertainment industry is leveraging artificial intelligence (AI) to enhance content creation, distribution, and consumer experience. AI-powered tools improve efficiency in video editing, special effects, and scriptwriting. Streaming platforms use AI algorithms for personalized content recommendations based on user preferences. AI chatbots provide customer support, reducing response time and improving user engagement. AI’s ability to analyze data and learn patterns benefits marketing strategies, audience targeting, and content monetization. Overall, AI is a valuable asset in the media and entertainment industry, driving innovation and growth.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

Artificial Intelligence (AI) and Machine Learning (ML) are revolutionizing the Media and Entertainment industry. In gaming, AI is used for gameplay, creating realistic opponents, and enhancing the user experience. Fake story recognition and plagiarism detection are essential for maintaining the integrity of content in the industry. AI and ML also play a significant role in production planning, optimizing workflows, and reducing costs. Talent discovery and scouting are now more efficient with AI-powered tools. Virtual creation allows for the production of high-definition graphics and real-time virtual worlds, enhancing the viewing experience. AI-generated live footage and sports analysis provide new opportunities for OTT platforms and online gaming experiences. Social media platforms use AI for content recommendation and natural language processing. The future of Media and Entertainment is AI-driven, offering endless possibilities for innovation.

Market Research Overview

Artificial Intelligence (AI) is revolutionizing the Media and Entertainment Industry with its advanced capabilities. AI technologies such as Machine Learning (ML), Natural Language Processing (NLP), and Deep Learning are being used in various applications. In the gaming industry, AI algorithms are used for gameplay, fake story recognition, plagiarism detection, and talent discovery. AI is also used in virtual creation, high-definition graphics, real-time virtual worlds, and sports analysis. OTT platforms and streaming services are utilizing AI for personalized content recommendations, audience insights, and voice data. AI-generated live footage, hyper-personalized content, and predictive analytics are transforming film and television production. In the music industry, AI is used for script analysis, storyboarding, and budget management. AI-specific hardware and computer-generated visuals are enhancing the online gaming experience. AI is also being used in sales and marketing, automated sports productions, and live streaming. The use of AI in the media and entertainment industry is expanding, from pre-production assistance to post-production, and from content creation to distribution.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TechnologyMachine LearningComputer VisionSpeech RecognitionEnd-userMedia CompaniesGaming IndustryAdvertising AgenciesFilm Production HousesGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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OPTIMUM AND MSG NETWORKS AGREE ON CARRIAGE DEAL

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NEW YORK, Feb. 22, 2025 /PRNewswire/ — MSG Networks and Optimum are pleased to announce they have reached an agreement for the relaunch of MSG Networks on Optimum video lineups.

MSG Networks and Optimum would like to thank everyone for their patience as we partnered to reach this new agreement to benefit our fans and Optimum subscribers.

Specific terms of the agreement were not released.

About MSG Networks
MSG Networks, a pioneer in sports media, owns and operates two award-winning regional sports and entertainment networks (MSG and MSG Sportsnet) and MSG+, a direct-to-consumer and authenticated streaming offering (included in the Gotham Sports App), that serve the nation’s number one media market, the New York DMA, as well as other portions of New York, New Jersey, Connecticut and Pennsylvania. The networks feature a wide range of compelling sports content, including exclusive live local games and other programming of the New York Knicks, New York Rangers, New York Islanders, New Jersey Devils and Buffalo Sabres, as well as significant coverage of the New York Giants and Buffalo Bills. This content, in addition to a diverse array of other sporting events and critically acclaimed original programming, has established MSG Networks as the gold standard in regional sports. MSG Networks is part of the Sphere Entertainment Co. (NYSE: SPHR).

About Optimum 
Optimum is a brand of Altice USA, one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.6 million residential and business customers across 21 states. The company operates Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. Altice USA also offers hyper-local news through its News 12 Networks.  

MSG Networks Contact:
Dan Schoenberg (dan.schoenberg@msg.com)

Optimum Contact:
Stephen Stokes (Stephen.stokes@optimum.com)
Erin Smyth (Erin.Smyth@optimum.com)

View original content to download multimedia:https://www.prnewswire.com/news-releases/optimum-and-msg-networks-agree-on-carriage-deal-302382817.html

SOURCE Sphere Entertainment Co.

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NetEase Cloud Music and Starship Entertainment Forge Copyright Partnership to Deliver Premium K-pop Content to Chinese Audiences

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HANGZHOU, China, Feb. 23, 2025 /PRNewswire/ — Korean entertainment group Starship Entertainment has entered into a copyright partnership with China’s premier online music platform, NetEase Cloud Music. This agreement brings Starship’s complete catalog, including the latest hits from renowned Korean girl group IVE and their third mini album, “IVE EMPATHY,” to Chinese audiences. The partnership not only boosts Starship Entertainment’s profile in China but also diversifies the music offerings available to Chinese listeners with a wider array of musical styles.

The collaboration capitalizes on the unique strengths of both entities in content creation and distribution. NetEase Cloud Music, hailed as one of China’s top online music platform, enjoys widespread popularity among the nation’s youth. Its vibrant music community enhances the efficiency of music distribution and expands Starship Entertainment’s reach among young Chinese music fans. Official figures show that NetEase Cloud Music has 206 million monthly active users, with more than 31.4% engaging with recommended tracks, marking a shift from traditional listening habits to a more engaged and unified community.

K-pop continues to thrive on the NetEase Cloud Music platform, with numerous artists from Starship Entertainment already gaining substantial recognition and positive commentary on the platform. Notably, the girl group IVE boasts over 349,000 fans on NetEase Cloud Music, with several of their songs amassing more than 100,000 favorites shortly after release. This highlights K-pop’s growing impact within the NetEase Cloud Music community. 

The copyright partnership with Starship Entertainment is a significant milestone in NetEase Cloud Music’s ongoing commitment to strengthening its K-pop offerings. In recent years, the platform has established partnerships with major South Korean entertainment firms including SM Entertainment, JYP Entertainment, YG Entertainment, Kakao Entertainment, and CJ ENM. These alliances have enabled NetEase Cloud Music to continuously introduce high-quality K-pop music to the Chinese market. As a result, the platform has developed an extensive library of licensed K-pop music, establishing itself as a crucial gateway for Chinese music fans to explore and appreciate the genre.

View original content:https://www.prnewswire.com/apac/news-releases/netease-cloud-music-and-starship-entertainment-forge-copyright-partnership-to-deliver-premium-k-pop-content-to-chinese-audiences-302382809.html

SOURCE NetEase Cloud Music

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Cufflink Vision: The End of Manual Utility Bill Data Entry

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Mountain Vector Energy introduces Cufflink Vision, a groundbreaking new feature that eliminates manual utility bill data entry by leveraging private AI models to extract, standardize, and integrate data seamlessly. Organizations using Cufflink Vision report a 90% reduction in data entry time, freeing energy managers to focus on efficiency, cost savings, and strategic decision-making.

ALBUQUERQUE, N.M., Feb. 22, 2025 /PRNewswire-PRWeb/ — Mountain Vector Energy is proud to announce Cufflink Vision, an advanced new feature in the Cufflink energy management system that eliminates the need for manual utility bill data entry. This cutting-edge tool automates data extraction and integration, freeing organizations from hours of administrative work so they can focus on making smarter, faster decisions.

“Over the years, we’ve been asked for utility bill management innovation from ESCO, Municipality, Healthcare, Industrial and Education entities. We’ve enabled this technology to make our customers’ lives just a little bit better.” – Steve Kiziuk, CEO of Mountain Vector Energy.

Say Goodbye to Tedious Tasks

For organizations managing multiple buildings, manual utility bill entry has long been a time-consuming, repetitive task. With Cufflink Vision, that era is over.

Cufflink Vision eliminates hours of administrative work, allowing energy managers to focus on strategy, efficiency, and cost savings. Custom, private AI models handle the data, while humans stay in control of making the decisions that impact their organizations.

Users can simply drag and drop utility bills into their Cufflink dashboard, where the system instantly extracts, structures, and uploads the data.

A Game-Changer for Energy Managers

A historical constraint for energy management is the ability to incorporate clean data. Utility bills are notoriously inconsistent—varying in format, containing handwritten notes, and following different billing cycles and tariff structures. By integrating custom, private AI models, the Mountain Vector Energy Engineering Team is transforming how data is cleaned. Cufflink Vision cuts through the chaos, seamlessly standardizing data from any utility bill.

Automating utility bill data entry, while preserving the bill image and linking the associated tariffs and riders is a new step forward in electric, gas, water, refuse, and fuel management. With accurate, structured data as the foundation, organizations can now streamline Measurement and Verification (M&V), ensuring that energy savings are tracked and validated with confidence.

Even messy bills are transformed into structured, digital data that integrates directly into Cufflink’s powerful energy management system. No more manual data entry. No more human error. No time wasted in clunky software.

Organizations already using Cufflink Vision have seen dramatic improvements in efficiency. On average, our customers report a 90% reduction in utility bill data entry time, shrinking from 10-20 hours a week to just 1-2 hours.

How It Works

Cufflink Vision streamlines utility bill processing by automating key tasks that traditionally required manual effort. Cufflink Vision executes the following tasks with ease:

Extracts data from PDFs, scanned utility bills and spreadsheets.Standardizes data, including handwriting, tariffs, and complex billing structures.Uploads structured data into Cufflink’s comprehensive energy management architecture.Flags inconsistencies for review, ensuring they are not overlooked.

True Automation—Not Empty Promises

Unlike competitors that claim to automate data entry but still require significant manual intervention, Cufflink Vision is a truly automated solution.

“We built Cufflink Vision because we’ve experienced the frustrations firsthand.” says Steve Kiziuk, CEO of Mountain Vector Energy. “Other existing solutions aren’t good enough—they still require manual intervention and do not scale. Over the years, we’ve been asked for utility bill management innovation from ESCO, Municipality, Healthcare, Industrial, and Education entities. We’ve enabled this technology to make our customers’ lives just a little bit better.”

About Mountain Vector Energy

Mountain Vector Energy is a leader in energy and water optimization, helping organizations cut costs, streamline operations, and meet ambitious sustainability goals. Through their patented energy management system, Cufflink, they provide the cutting-edge tools organizations need to navigate complex energy landscapes with confidence. Mountain Vector Energy is dedicated to helping organizations use their data to achieve real, measurable results.

This groundbreaking feature debuts ahead of the Opal Group’s EduTech Summit in Tempe, AZ.

Contact

For more information, visit mountainvector.com or contact:

Yovanna Araujo

505-549-7680

yovanna@mountainvector.com

linkedin.com/in/yovannaaraujo/

Media Contact

Yovanna Araujo, Mountain Vector Energy, 1 505-549-7680, yovanna@mountainvector.com, https://mountainvector.com/

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SOURCE Mountain Vector Energy

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