The UK is forecast to have the largest entertainment and media market in Europe - overtaking Germany - from next year, according to PwC’s latest Global Entertainment & Media (E&M) Outlook 2024-2028.
UK E&M revenue is expected to break the £100bn barrier this year before growing to £121bn by 2028 at a compound annual growth rate (CAGR) of 4%.

PwC reported that advertising makes up an outsized share of the E&M market in the UK, representing 39% of sector revenues (in 2024) vs. 29% across Western Europe.
The UK ad market is also the most digitally mature in Western Europe, with internet advertising representing 80% of total advertising revenues compared to 66% across the region. The UK digital advertising market is forecast to grow from £32bn in 2024 to £44bn in 2028, a CAGR of 8% which is amongst the highest in the region.
Meanwhile, the service sector (internet access) is forecast to generate £32bn by 2028 aided by significant growth in 5G subscriptions.
UK subscriptions to OTT video services will rise to £8.3bn in 2028 from £6.5bn in 2024, representing a 6% CAGR. The growth will be supported by a crackdown on password sharing and the introduction of ad-based tiers. By 2028, advertising will account for 30% of UK OTT streaming revenues, up from 24% in 2024.
The UK is forecast to retain its position as the largest and most well-established gaming market in Europe. Total video games and esports revenue is forecast to grow from £7.4bn in 2024 to £8.4bn in 2028 at a CAGR of 3%.
Total cinema revenue is forecast to continue growing over the next four years at a CAGR of 6%. The report forecasts box office spend to surpass pre-Covid levels in 2027 and by the end of the forecast period be worth £1.3bn.
Live music ticket sales are expected to grow from £1.75bn in 2024 to £1.9bn by 2028 at a CAGR of 1.9% driven by music festivals and musician world tours. By 2028, live music will be worth 31% of total music, radio and podcast revenue (£6.1bn).
Mary Shelton Rose, Partner and UK Technology, Media and Telecoms Leader at PwC, said: “Our E&M industry is one of the UK’s strongest growth sectors. To stay ahead we must continue investing in talent and embracing digital transformation which will support further revenue growth.”
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