The entertainment industry is among the most profitable on Earth. Even if you’re not much into music or movies, you’ve surely heard about Hollywood. Making movies or music has made many artists millionaires, and a selected few have earned the status of billionaires. This particular industry is divided into various sectors, and many you don’t know of are more profitable now than ever.
There’s money to be made in the entertainment business if you’re innovative and play your cards right. In the paragraphs below, we’ll share some of the most profitable entertainment sectors that might give you a few ideas on your next business moves.
Gaming Platforms
Most have read about or know a thing or two about gaming platforms such as Epic Games or Steam. They allow you to buy digital copies of video games and play them from your profile instead of buying CDs. But, did you also know that another form of gambling is even more profitable than these platforms? We’re talking about online casinos and all the advantages they bring.
Online casinos bring significant revenue in countries where they’re allowed. They usually offer thousands of games, ranging from slots to table games and immersive live dealer titles. Then there are the bonuses. From deposit to no deposit offers, bonuses are a great way to earn money without spending a lot. You can read casinos.com’s guide to no wagering casinos to learn more about bonuses you don’t even need to wager. Yes, they exist.
Besides the barrage of bonuses, online casinos accept innovative payment methods, including cryptocurrencies. All of this makes them appealing to all types of players, so it’s no wonder that this particular sector of the entertainment industry rakes in billions. So do Las Vegas casinos, but the future of the online gaming industry lies in casino sites.
Per recent reports, the global online gaming market will be worth over $132 billion by 2027. That’s in just a few years, and some optimists believe that number can grow even higher. Online casinos evolve hand in hand with new technologies, and they will surely grow bigger and better than ever. Players will certainly be there to support them, so this entertainment sector may outpace others in terms of revenue.
Streaming Services
Is there a more obvious pick for a spot on this list than streaming services? We’ve all watched Netflix become a giant in streaming services and entertainment in the past 4-5 years. Thanks to a certain 2020 event, we’re been forced to mostly stay at home, and that worked in Netflix’s favor. Not just Netflix, but other streaming services as well. Many entertainment companies have started their own, featuring unique TV shows that you can’t watch anywhere else.
The most popular thus far are Netflix, Disney+, HBO Max, and Amazon Prime. Apple TV, Peacock, Paramount, and Hulu are also one step away from becoming the next big streaming service. Many of these services are experimenting with live TV, offering niche network coverage, which might be important to some users.
Per reports, the streaming service industry is worth over $130 billion. That number will surely grow in the future as they often tend to raise prices, especially for 4K content.
Pay-Per-View Live Events
MMA sports such as the UFC and boxing are largely run by pay-per-view events. For the past 15 years, the UFC has reported insane earnings from PPV events, which are carefully tailored to feature the biggest names in the sport. It’s similar with boxing, which is competing with the UFC for PPV figures.
While they’re a far cry from streaming services, PPV live events have become a huge thing for the UFC. It’s all thanks to president Dana White, who has revolutionized the promotion and almost monopolized MMA as a sport. A single PPV can be bought millions of times and generate revenue worth hundreds of millions of dollars.
So far, the absolute leader in this category is the epic fight between Conor McGregor and Khabib Nurmagomedov that ultimately ruined the Irish fighter’s career. There were 2,400,000 PPV buys for this event, raking in a whopping $180 million.
We’re waiting for that number to crack in the future, although truth be told, it’ll be a hard sell.
Esports Tournaments
Competitive video game tournaments are becoming larger by the year. Esports has evolved into a multi-million dollar industry, and it doesn’t plan on stopping anytime soon. The growing global fan base makes Esports tournaments more competitive and richer than ever.
If you take a look at tournaments such as The International or the LoL World Championship, you’ll see that their prize purses are out of this world. What started as a shy competition a decade ago is now a juggernaut in the entertainment industry worth over $40 million. The teams are sponsored by major tech and hardware companies, and viewership is off the charts. In fact, these and other tournaments are so big that there are now dedicated sports channels that transmit the events.
Some of the top Esports battles can rival the best sports events. If you ever think that Esports is a fluke, the latest reports say that the industry should grow to $1.87 billion in the next couple of years. We think those numbers will even go higher, reflecting the growing interest in this entertainment sector.
Live Concerts
Live concerts have always been a huge part of the entertainment sector. They can put others to shame, generating revenue over $2 billion annually. Concerts such as Coachella are a global attraction, and despite the slight drop in visitors, they generate substantial income to keep the sponsors and organization happy.
And it’s not just Coachella. Tours such as Taylor Swift’s Eras which stretched over a couple of years generate insane amounts of money. So do other artists and bands, making live concerts a cornerstone of the entertainment industry. More importantly, unlike some other sectors, live concerts are an immortal industry that will grow even stronger in the future.
