The UK Entertainment & Media market is forecast to reach £97 billion by 2029, doubling from £50 billion in 2020, with a growth rate of 5% per annum, outpacing all other major European markets
Digital advertising set to hit £50 billion by 2029, with Connected Television (CTV), social video, gaming and retail media increasing share as brands follow audience journeys
PwC’s latest Global Entertainment & Media Outlook 2025–2029, forecasts the UK’s Entertainment and Media (E&M) market, excluding internet access, is expected to reach £97 billion by 2029, compared to Germany’s projected £83 billion and France’s £47 billion. The UK’s growth rate of 5% per annum (p.a) is higher than all other major European markets, reflecting its status as a digital-first, creative hub. This forecast retains the UK’s position as the third largest E&M market globally, after the US and China.
The major trends transforming the world’s economy are placing an immense amount of value in motion within the media industry. A few key themes emerged from PwC’s analysis this year:
Digital advertising drives UK E&M growth
The UK’s E&M sector is defined by its digital-first, advertising-led economy. By 2029, advertising is forecast to account for 61% of total sector revenue (excluding internet access), up from 45% in 2020; a higher share than in other major markets.
This dominance is underpinned by rapid expansion in digital advertising, which is set to grow at 7% p.a. from £34 billion in 2024 to £50 billion by 2029. Digital formats now represent 84% of total ad spend, with Connected TV (CTV), social video, gaming and retail media acting as the primary engines of growth across algorithmic biddable media.
Cinema continues to ‘Defy Gravity’
Cinema in the UK is set to grow at a pace of 3% annually, in line with the global market, with sector revenues rising from £1.14 billion in 2024 to £1.37 billion by 2029. Admissions are expected to reach 154 million by 2029, reflecting sustained consumer appetite for the big screen experience. Blockbusters such as Wicked: For Good (Part 2) and Avatar: Fire & Ash will help to increase admissions for the festive release period.
Streaming and OTT Video: innovation and collaboration
Digital revenues continue to be the main engine of growth. Video formats, especially over-the-top (OTT) streaming and social video, are driving both consumer and advertising expansion across digital platforms. The UK’s OTT video market is projected to reach £9 billion by 2029, with advertising-based models gaining share to account for 35% of OTT revenues. The 6% forecasted growth in the UK for OTT streaming is higher than the global average of 5%, showing potential from UK broadcasters who are collaborating more effectively to compete against global streaming giants.
AI: Disruption and opportunity
AI is now a central force in the UK E&M sector, accelerating transformation across the industry. As highlighted in PwC’s 28th Annual Global CEO Survey, E&M leaders are among those feeling the greatest pressure to reinvent their business models alongside Technology, Telecoms and Industrial Manufacturing leaders. From new ways to discover and engage with content, to innovative tools for creation and personalisation, AI is reshaping the entire entertainment and media value chain.
As these AI-driven changes continue to unfold, the UK’s E&M sector is well positioned to adapt and thrive;
Ben Bird, PwC UK Media and Entertainment Leader, commented:
“As the UK strengthens its position as Europe’s largest Entertainment and Media market, our creative industries continue to set the pace for innovation and audience engagement. The sector’s resilience and adaptability, combined with the opportunities presented by AI, are key to sustaining growth and maintaining global influence in the years ahead.”
Dan Bunyan, Strategy& TMT Leader at PwC UK, added:
“The UK’s Entertainment and Media sector is undergoing a remarkable transformation, driven by evolving consumer expectations and new ways to experience content. Businesses that embrace change and invest in creativity and experience, while harnessing the potential of AI, will be best placed to capture future opportunities
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