Spanish Entertainment and Media Industry to Grow 2.7% Annually Through 2029 Driven by Digital and AI
The Spanish entertainment and media industry is set for steady growth through 2029, fueled by digital advertising, streaming, and AI innovation, surpassing national economic growth.
- • Spanish E&M industry projected to grow 2.7% annually through 2029, reaching €45.1 billion.
- • Digital advertising and connected TV drive growth with 6.5% and 10.2% annual increases respectively.
- • OTT video platforms to grow 9.3%, surpassing traditional TV revenues which decline.
- • Artificial intelligence seen as a transformative factor reshaping industry dynamics and consumer-platform relations.
Key details
The Spanish entertainment and media (E&M) industry is projected to grow at an annual rate of 2.7% from 2026 to 2029, reaching revenues of approximately €45.1 billion, surpassing the anticipated Spanish GDP growth of around 2% during the same period. This growth outlook is highlighted in PwC's 26th edition of the ‘Entertainment & Media Outlook Spain’ report, which also notes that the global E&M sector will expand at 3.7% annually, reaching $3.5 trillion by 2029.
Key drivers of this growth in Spain include a surge in digital advertising, streaming services, and the strategic integration of artificial intelligence (AI). Internet advertising is forecasted to grow at 6.5% annually, with connected TV advertising revenues expected to increase even faster, at 10.2% annually. The over-the-top (OTT) video sector, consisting of streaming platforms such as Netflix and Disney+, will see a significant revenue rise of 9.3% annually, reaching over €4.8 billion by 2029, while traditional television revenues are projected to decline from €3.5 billion in 2024 to about €3.2 billion by 2029.
Beyond advertising and streaming, the video game industry is expected to expand at 5.2% annually, reaching nearly €2.75 billion. The music sector will also experience growth of 3.1% annually, largely propelled by live music performances. The publishing industry shows a mixed picture, with book sales growing slowly and declines in magazines and newspapers. The cinema industry is forecasted to grow modestly at 2.2%, and the business-to-business market within entertainment is also expected to rise to €2.55 billion by 2029.
Daniel Martínez of PwC Spain emphasized the transformative role of AI, stating it will "redefine consumer-platform relationships" and unlock significant opportunities, although it also presents regulatory challenges. He highlighted that companies effectively integrating AI will gain a competitive advantage in an increasingly data-driven and fragmented market.
Overall, Spain’s E&M sector faces a future shaped by technological innovation, digitalization, and evolving business models, reflecting global trends but with specific national dynamics that position it for moderate yet solid growth through 2029.
This article was translated and synthesized from Spanish sources, providing English-speaking readers with local perspectives.
