Media - Philippines

Philippines

In the Philippines, revenue in the Media market is projected to reach €6.00bn in 2024.
The largest market within this market in the Philippines is Games, which is expected to have a market volume of €3.00bn in 2024.
In global comparisons, the most revenue will be generated the United States, amounting to €496.60bn in 2024.
Furthermore, in the Media market in the Philippines, 48.65% of total revenues will be generated through digital Media market by 2029.
The Philippine media landscape is increasingly embracing digital transformation, with a growing emphasis on online platforms to engage younger audiences effectively.

Key regions: United States, China, Japan, United Kingdom, Germany

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

The Media market in Philippines has been experiencing significant growth and development in recent years.

Customer preferences: Customers in the Philippines have shown a strong preference for digital media platforms, with an increasing number of people accessing content through smartphones and other mobile devices. This shift in consumer behavior has led to a rise in the popularity of streaming services and online news portals. Additionally, social media platforms have become a major source of news and entertainment for many Filipinos, further driving the demand for digital media content.

Trends in the market: One of the key trends in the media market in the Philippines is the increasing adoption of over-the-top (OTT) streaming services. This trend has been fueled by the growing availability of high-speed internet connections and the affordability of smartphones. As a result, more consumers are opting to stream their favorite TV shows, movies, and music online, rather than relying on traditional broadcast or cable television. This shift in consumer behavior has prompted media companies to invest in creating and acquiring digital content, as well as developing their own streaming platforms. Another trend in the market is the rise of online news portals and digital journalism. With the advent of social media and the increasing accessibility of the internet, more Filipinos are turning to online platforms for news and information. This has led to the emergence of digital news outlets that cater to the needs of the tech-savvy and socially engaged population. These online news portals often provide real-time updates, interactive features, and multimedia content, which appeal to a younger audience.

Local special circumstances: The Philippines has a large and young population, with a high proportion of internet users. This demographic profile has contributed to the growth of the media market, as young Filipinos are more likely to consume digital content and engage with online platforms. Furthermore, the country has a strong social media culture, with Filipinos being among the most active social media users in the world. This has created a fertile ground for the development of digital media and online communities.

Underlying macroeconomic factors: The growth of the media market in the Philippines is also influenced by favorable macroeconomic factors. The country has experienced steady economic growth in recent years, leading to an expanding middle class with increased purchasing power. This has translated into higher consumer spending on media and entertainment, including digital content and subscriptions. Additionally, the government has been supportive of the media industry, implementing policies and initiatives to promote the growth of digital media and attract foreign investments. In conclusion, the media market in the Philippines is witnessing a shift towards digital platforms, driven by customer preferences for online content and the increasing availability of high-speed internet. This trend is expected to continue as more Filipinos embrace digital media and as media companies invest in creating and acquiring digital content. With a young and tech-savvy population, as well as favorable macroeconomic factors, the media market in the Philippines is poised for further growth and development in the coming years.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.