The Entertainment Insurance Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Entertainment Insurance Global
Market Report 2024, The entertainment insurance market size is expected to see
rapid growth in the next few years. It will grow to $5.93 billion in 2028 at a
compound annual growth rate (CAGR) of 11.2%.
The growth in the forecast period can be attributed to the growth of
streaming services, ongoing pandemic-related uncertainties, globalization of
entertainment content, an increasing focus on cybersecurity in media, and
greater emphasis on sustainability in productions. Major trends in the forecast
period include the adoption of blockchain for rights management, increased use
of AI in risk assessment, a greater focus on diversity and inclusion in
insurance policies, a rise in demand for cyber liability insurance, and the and
the integration of telematics for live event safety.
The growing entertainment industry is expected to drive the expansion of the
entertainment insurance market moving forward. The entertainment industry
encompasses sectors such as film, television, music, theater, and live events,
producing content and experiences for public consumption and enjoyment. The
growth is driven by technological advancements, increased consumer demand for
diverse content, and expanding digital platforms. Entertainment insurance
mitigates financial risks, ensuring continuity and stability in productions and
events, thereby supporting the entertainment industry's growth. For instance,
in March 2024, according to the statistics published by the Bureau of Economic
Analysis (BEA), a US-based federal statistical agency, performing arts
increased by 39.2% in 2022 from a 12.4% rise in 2021, museums increased by 6.9%
in 2022, design services grew by 8.5% in 2022 from a 13.6% rise in 2021, fine arts
education increased by 24.0% in 2022 from a 21.4% rise in 2021, and education
services increased by 7.3% in 2022. Therefore, the growing of the entertainment
industry is fueling the expansion of the entertainment insurance market.
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The entertainment insurance market covered in this report is segmented –
1) By Product: Personal Insurance, Property Insurance
2) By Coverage: General Liability,
Errors And Omissions, Workers Compensation, Equipment Insurance
3) By Distribution : Brokers , Non-Brokers
4) By Application: Entertainment Industry, Media Industry, Sports Industry,
Live Events Industry
5) By End-User: Business, Individuals
Major companies operating in the entertainment insurance market are focusing on
innovative solutions, such as next-generation insurance solutions, to address
the evolving risks and needs of the entertainment industry. Next-generation
insurance solutions refer to advanced insurance products designed with
innovative policies and technologies to enhance coverage, risk management, and
customer satisfaction. For instance, in May 2024, Galway Holdings LP, a
US-based financial services provider in insurance, tech, and consulting,
launched GalwayPlus Sports + Entertainment. GalwayPlus aimed to establish a
central hub within the Galway enterprise, linking businesses catering to
clients in the sports, entertainment, and media sectors. This marks a notable
advancement in the entertainment insurance sector, providing a holistic
platform that combines wealth management, insurance, and financial services
tailored specifically for the diverse needs of clients in sports and
entertainment.
The entertainment insurance market report table of contents includes:
1. Executive Summary
2.
Entertainment Insurance Market Characteristics
3.
Entertainment Insurance Market Trends And Strategies
4.
Entertainment Insurance Market - Macro Economic Scenario
5. Global
Entertainment Insurance Market Size and Growth
.
32. Global Entertainment Insurance Market Competitive Benchmarking
33. Global
Entertainment Insurance Market Competitive Dashboard
34. Key
Mergers And Acquisitions In The Entertainment Insurance Market
35.
Entertainment Insurance Market Future Outlook and Potential Analysis
36.
Appendix
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