Video Games are no longer the largest entertainment segment in the UK
Video subscription services are growing massively.
For the first time in the last 11 years, video games have yielded their place as the highest-earning entertainment industry in the UK. Games earned £4.74 billion, showing a growth of 2.9% compared to the previous year.
Surpassing video games is the video content industry, more precisely, subscriptions to services like Netflix, Disney Plus, and Apple TV. This segment earned £4.9 billion in 2023, a 10% increase from 2022. Subscriptions account for 89% of the entire video content market.
The music industry in the UK earned £2.2 billion in 2023, a 9.6% increase from the previous year. The year turned out to be almost record-breaking in terms of performance (close to 2001).
Comparing the figures from 2019 to the results of 2023, the gaming industry grew by 29.2%, video by 88.3%, and music by 38.8%.