Digital Rights Management in Media & Entertainment Industry Overview
The global digital rights management in media & entertainment market size was valued at USD 1.74 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 16.5% from 2021 to 2028.
Digital disruption and the increasing expanse of high bandwidth internet networks are allowing the easy distribution of media content across users. However, this also allows for the illegal sharing of media content including audio, video, books, and applications, affecting the revenue of content publishers and distributors. To reduce the illegal distribution of media content, several content publishers and distributors adopt Digital Rights Management (DRM) technologies. DRM technologies protect content using license keys or templates and allowing only the authorized users to view or use the contents even if it is distributed or duplicated illegally.
Gather more insights about the market drivers, restrains and growth of the Global Digital Rights Management in Media & Entertainment Market
In recent years, the demand for DRM technologies has increased significantly across the U.S. owing to the growth in digital conversion technologies and the increased consumption of digital media among users. Leading content producers, media distributors, and content publishers’ dependent on the revenue generated from their content are increasingly investing in several DRM technologies to prevent consumers from copying or converting the content in other formats. For instance, In November 2020, Deluxe Media Inc., a U.S.-based enterprise offering distribution services for OTT platforms and content creators, selected the KeyOS MultiKey Server by BuyDRM Inc to deliver secure premium video content from the National Hot Rod Association (NHRA).
Advancements in digital media technology have helped accelerate the introduction of several types of media services. Realizing the opportunities, broadcasters, OTT, and Pay TV operators are increasingly shifting to cloud-based infrastructure to deliver on-demand content to consumers. To deliver, convert, and package content in various formats for viewers to view it on different devices motivates content owners and content distribution partners to adopt a scalable and cost-effective way to deliver content. DRM solutions help content creators and distributors deliver content for certain audiences and provide multi-tiered subscription plans as a way to increase revenue. For instance, an OTT platform can charge a lower fee to consumers to access the content on 1 device and simultaneously increase the charge allowing access to the content across devices.
Digital content forms the core element of the media, publishing, and entertainment industries. As such, protecting content from piracy and unauthorized access is critical to ensure that it is shared with only the subscribers. Moreover, content piracy and unauthorized access decrease the revenue opportunities of professional content creators. This has created the need for quality DRM solutions among media enterprises to provide user controls for different audiences for different content.
Browse through Grand View Research's Digital Media Industry Research Reports.
- Video Streaming Market - The global video streaming market size was valued at USD 59.14 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 21.3% from 2022 to 2030. Innovations such as blockchain technology and Artificial Intelligence (AI) are used to improve video quality.
- Portable Media Player Market - The global portable media player market size was valued at USD 21.15 billion in 2018 and is expected to expand at a CAGR of 4.0% from 2019 to 2025. The demand for compact devices with high durability is accelerating the growth. The top-notch features of the new product such as high audio-video quality, compatibility, flexible storage capacity, and portability are further spurring the product demand.
Digital Rights Management in Media & Entertainment Market Segmentation
Grand View Research has segmented the global digital rights management in media & entertainment market based on application, enterprise size, and region:
DRM in Media and Entertainment Application Outlook (Revenue, USD Million, 2017 - 2028)
- Mobile Content
- Video on Demand (VoD)
- Mobile Gaming and Apps
- eBook
- Others
DRM in Media and Entertainment Enterprise Size Outlook (Revenue, USD Million, 2017 - 2028)
- SMEs
- Large Enterprises
DRM in Media and Entertainment Regional Outlook (Revenue, USD Million, 2017 - 2028)
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Market Share Insights
- April 2021: Verimatrix announced the introduction of Multi-DRM Core. The DRM solution aimed to address the needs of video streaming providers, enabling them to set up a customized and secured cloud-based DRM system easily.
- November 2020: Bitmovin Inc entered into a partnership agreement with OKAST, a France-based video streaming platform provider.
- May 2020: Intertrust Technologies Corporation revealed that Sony Pictures Networks India Pvt Ltd., a subsidiary of Sony Corporation, selected ExpressPlay DRM to secure content streaming of its Indian digital OTT platform, SonyLIV.
Key Companies profiled:
Some prominent players in the global digital rights management in media & entertainment market include
- Google (Widevine)
- Microsoft
- Irdeto
- Apple Inc.
- Vitrium
- Intertrust Technologies Corporation
- Bitmovin Inc.
- Kudel SKI SA (Nagra)
Order a free sample PDF of the Digital Rights Management in Media & Entertainment Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc.
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email: sales@grandviewresearch.com
