A report from the British Association for Screen Entertainment (BASE) and DEGI: The Digital Entertainment Group International has revealed what is said to be consumer “excitement” for the co-evolution of multiple home entertainment formats and channels with hybrid models driving growth as services, platforms and producers complement as they compete.
Indeed, the Evolution of Home Entertainment Report 2020 – 2025 predicted UK category growth of £5.5 billion by 2025 an increase of 114% on the pre-pandemic predictions as well as forecast transactional cumulative consumer spend of £2.4 billion by this time. Moreover, the report documents optimism showcasing what the authors say is 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.
Honing in on ten key elements, the report charts category growth driven by diverse channel choice available to consumers and looks at content; the potential ahead; cinema continuing its legacy as the ultimate release platform; and the transition to the home. The latter was found to be now much more central to family entertainment consumption than ever.
The study found 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% 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,” said BASE & DEGI chief executive Liz Bales. “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… 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.”
“Ever-increasing consumer engagement with in-home viewing has been accompanied by innovation across the sector,” remarked Robert Marsh, chair of BASE and vice president commercial, Sony Pictures Entertainment. “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.
Honing in on ten key elements, the report charts category growth driven by diverse channel choice available to consumers and looks at content; the potential ahead; cinema continuing its legacy as the ultimate release platform; and the transition to the home. The latter was found to be now much more central to family entertainment consumption than ever.
The study found 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% 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,” said BASE & DEGI chief executive Liz Bales. “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… 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.”
“Ever-increasing consumer engagement with in-home viewing has been accompanied by innovation across the sector,” remarked Robert Marsh, chair of BASE and vice president commercial, Sony Pictures Entertainment. “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.
