The 2019 edition of our series of reports on the state of the entertainment industry in the internet era. A close look at the latest data on the music, video, book, and video game industries that not only does digital technology continue to drive a huge amount of creativity and fuel new and different businesses, it is leading massive revenue growth in many traditional entertainment businesses as well.
When it comes to the luxury goods market, we’ve certainly seen a fair amount of disruption. The market was traditionally defined by a small number of very high end players, who had tremendous control over their supply chains all the way down to the retail level. The internet has definitely shaken up that space and created new challenges for the luxury goods market, whether it was in allowing new entrants into the space, or breaking down some of the control over the supply chain and building up viable secondary markets.
The main goal of this report is to look at the internet’s impact on the luxury goods market, and whether or not it’s been beneficial or harmful. What we found is that, even with the global economic problems of the past few years, the luxury goods market is thriving — especially for brands who embraced the internet, digital marketing and innovation.
This report looks at data about the US entertainment industries to get a glimpse into what’s happening around the globe. The basic story certainly remains the same: within the US there has been an explosion in creative output over the past couple of decades. While the nature of the various industries may have changed, the simple, undeniable fact is that there is a cornucopia of amazing new content being produced, consumed, shared and monetized.
For years now, the legacy entertainment industry has been predicting its own demise, claiming that the rise of technology, by enabling easy duplication and sharing — and thus copyright infringement — is destroying their bottom line. If left unchecked, they say, it is not only they that will suffer, but also the content creators, who will be deprived of a means to make a living. And, with artists lacking an incentive to create, no more art will be produced, starving our culture.
It seems obvious to many that this could not possibly be true. This report takes a close look at six key markets: Germany, France, the UK, Italy, Russia and Spain. Not only is the sky not falling, as some would have us believe, but it appears that we’re living through an incredible period of abundance and opportunity, with more people producing more content and more money being made than ever before. As it turns out… The Sky Is Rising!