According to the research report titled ‘Global Online Entertainment Market Size study, by Form (Video, Audio, Games, Internet Radio, Others), by Revenue Model (Subscription, Advertisement, Sponsorship, Others), by Devices (Smartphones, Smart TVs, Projectors, & Monitors; Laptop, Desktops, & Tablets, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global online entertainment market was worth USD 183 billion in 2019 and is projected to reach a valuation of USD 651.044 billion by the end of the forecast period 2020-2027, expanding at 17.2% CAGR throughout.
 

Widespread availability of internet services at affordable prices, along with increasing ownership and shipment of laptops and smartphones among individuals are the key factors stimulating global online entertainment market growth. In fact, in 2017, the overall shipments of smartphones around the world were about 1.6 billion units, showing a rise of 7.17% from 2014, (1.3 billion-unit smartphone shipments), as cited by Statista. Whereas, during Q4 of 2019, mobile manufacturers delivered a total of 369.8 million smartphone units, according to the International Data Corporation (IDC).
 

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In the current scenario, most entertainment services are now accessible online, allowing users access to more content than ever before. Online entertainment includes access to such as movies and music content over the Internet.
 

Moreover, entertaining collaborative features and content such as multiplayer games, video streaming, music and video streaming, video chat, and many more are combined with online entertainment. Such online platforms can be accessed by any modern internet-enabled computing devices like desktops, laptops, smartphones, smart TVs, and projectors.
 

Speaking of the latest developments, the recent outbreak of the COVID-19 pandemic has boosted global online entertainment market growth. This can be ascribed to lockdowns imposed by several regional governments to prevent the spread of new coronaviruses. Additionally, as many individuals temporarily do not have any form of employment or a working from home, they are becoming more invested in online entertainment.
 

From the regional perspective, North America currently holds considerable portion of global online entertainment market share, creditable to presence of various internet service providers and availability of advanced digital infrastructure with high digital literacy among the populace.
 

Meanwhile, Asia Pacific online entertainment industry is slated to grow substantially through 2027, on account of rapid digitalization in the media & entertainment industry and growing penetration of internet & smartphones.
 

Leading organizations in global online entertainment market sphere are CBS Corp., Rakuten, Inc., Spotify Technology S.A., King Digital Entertainment Ltd., Sony Corp., Tencent Holdings. Ltd., Facebook, Inc., Google LLC, Netflix, Inc., and Amazon Web Services.