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“Are you not entertained?” – Probably one of the most famous lines from Gladiator, as Russell Crowe playing the role of Maximus yelled to the arena crowd. Back in 2000 when that movie was a blockbuster hit, going to the cinema or renting it on DVD was the best way to watch. But over the last couple of decades, the media entertainment industry has undergone phenomenal change in Australia.
These days we download games and play them online, just the same as we can stream top shows and movies directly to our telly. And business is certainly booming Down Under, where more people are consuming their entertainment digitally than ever before, with numbers continuing to rise during the last 12 months or so.
And two particular segments of the media entertainment industry are driving demand, fuelled by the Aussi passion for video gaming, and the convenience of video-on-demand content. Both segments are fiercely competitive in their aim to attract more custom, and both are reaping the benefits of growing technology adoption across the country.
Aussie games industry continues to flourish
Through 2022, Australians continued to express their love for gaming by dipping into their pockets. In fact, according to this consumer sales data released by the Interactive Games & Entertainment Association (IGEA), spending on video games reached $4.21 billion AUD, marking a rise of 5% overall from 2021, and similar growth is expected ahead of the 2023 reports.
Nevertheless, there is more than just one segment to consider. Aside from video gaming, there’s also the iGaming segment, which incorporates activities involving sports betting and online casino gambling. In fact, market analysts have projected revenues of almost $16 billion AUD by the end of 2023.
Participation statistics for 2023 indicate that four out of five people enjoy wagering regularly, whether it’s on sports or at online casinos. But it always helps to get plenty of good advice, so visit this website for Australian gamblers, packed with useful guides and information. And it doesn’t matter if you’re a novice or veteran, there’s always something new to learn.
Streaming services battle for dominance Down Under
Despite people tightening their belts in late 2022 and early 2023, cutting back on many non-essential entertainment purchases, the most popular streaming services are once again on the rise. Indeed, one recent market research estimate says the Australian revenues will reach $1.16 billion USD in 2023, which converts to just over $1.8 billion AUD.
Almost 70% of Aussies currently have access to at least one streaming services, while many are subscribed to multiple platforms. In terms of usage and popularity, Netflix remains firmly ahead of the competition, while the next big three providers jostling for position are Disney+, Amazon Prime Video, and Stan.
But just as interesting to note, The Guardian recently highlighted cutbacks in production spending on Australian dramas by the streaming companies. They accounted for $398 million AUD of the overall $680 million AUD spent on Aussie productions, which remains much higher than terrestrial domestic broadcasters. However, streaming services aren’t actually obliged to the same local content quotas as free-to-air TV companies.
5G rollout increasing demand
Already widespread in major urban areas, 5G is already extending its reach of coverage across Australia, largely thanks to significant infrastructure investment. Over the coming years, this will provide even greater accessibility to gaming and streaming services, which is why market analysts remain confident about the constant projected growth in both entertainment segments.
