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The global Media & Entertainment (M&E) market reached $1.9 trillion in revenues in 2016, according to the 2016- 2020 Entertainment & Media Outlook by PricewaterhouseCoppers (PwC), and is expected to expand by nearly five percent to reach just under $2 trillion in 2017. In 2016, China ($190 billion) became the second largest market after the United States ($712 billion), followed by Japan ($157 billion), Germany ($97 billion) and the United Kingdom ($96 billion). France came in sixth, at $69.3 billion (2016). In contrast, the six largest Latin American M&E markets grew to $96 billion combined in 2016. Demonstrating major contributions of uniquely American culture, the United States boasts the largest global share of M&E earnings for filmed entertainment, music, book publishing, and video games. The M&E industryi consists primarily of small businesses – or Indies – but large corporations, often diversified with the digital and tech sectors, dominate the industry.
The U.S. M&E market alone represents a third of the global market and will reach approximately $771 billion by 2019, up 8.6 percent from 2016. The largest U.S. M&E firms (calculated by 2016 revenues) across four broad industry segments, include: Penguin Random (Books), SONY (Music), Disney (Film), and Microsoft (Video Games). Many corporations have experienced significant convergence and moved from film or broadcast or news, for example, to offer a multitude of services across M&E sectors. The largest example is the acquisition that led to Comcast NBCUniversal.
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