Irish media and entertainment market to grow to €6.1bn as mobile advertising increases

Revenues in Ireland’s 'internet access' industry to be worth €2.2bn by 2027, with mobile advertising overtaking broadband revenues to reach €819m, according to PwC

Ireland’s video-on-demand market is predicted to  reach €433m. 

The value of the entertainment and media industry in Ireland will grow from €5.1bn at present to €6.1bn by 2027, helped by increases in mobile advertising and video subscriptions, according to PwC.

Its global entertainment and media report covers internet, outdoor advertising, video on demand, TV subscriptions and licences, music, radio, podcasts, video games, films, newspapers, books, and magazines.

Amy Ball, partner at PwC Ireland’s Entertainment and Media division, said Irish firms in the industry will have to juggle a number of demands to drive growth.

“We have seen robust growth for Ireland in the entertainment and media industry over the past two years following a surge in demand for digital products during covid-19,” said Ms Ball.

Increased reliance on mobile and digital technologies, heightened industry competition, an evolving regulatory environment, and disruptions posed by new and emerging technologies will create new tensions and possibilities in the years ahead for the sector.”

PwC said that revenues in Ireland’s “internet access” industry will be worth €2.2bn by 2027, with mobile advertising overtaking broadband revenues to be worth €819m.

It predicts Ireland’s video-on-demand market, which includes subscription video-on-demand and transactional video-on-demand, will keep building on growth rates secured during the pandemic, to reach €433m. 

Tax breaks under the Section 481 incentives will continue to lure foreign companies to make productions in Ireland, helping Irish cinema revenues to grow to €161m, the report predicts. Ireland’s music and radio market will grow to €453m; video games will increase to €526m; but revenues from newspapers and consumer magazines will fall to €288m by 2027 as an increase in digital revenues fails to offset print decline.

PwC also said Big Tech firms are set to shake up the advertising industry by using artificial intelligence to produce and run advertising campaigns.

They “must play a role in safeguarding information and ensuring that consumers’ privacy rights are upheld”, according to the report.