Within the next decade, 5G will drive US$1.3 trillion in new revenues opportunities for the media and entertainment industry, according to new research commissioned by Intel.
The ‘5G Economics of Entertainment Report’, which was conducted by Ovum, claims that between 2019-2028 media and entertainment companies will compete to win a share of a near US$3 trillion cumulative wireless revenue opportunity – US$1.3 of this enabled by 5G.
The study says that by as early as 2025, some 57% of global wireless media revenues will be generated by the super-high-bandwidth capabilities of 5G networks and the devices that run on 5G.
These low latency networks are expected to accelerate content consumption – including mobile media, mobile advertising, home broadband and TV – and unlock the potential of new technologies like augmented and virtual reality.
The average monthly traffic per 5G subscriber is tipped to grow from 11.7 GB in 2019 to 84.4 GB per month in 2028, at which point video is expected to account for 90% of all 5G traffic.
“5G will inevitably shake up the media and entertainment landscape. It will be a major competitive asset if companies adapt. If not, they risk failure or even extinction,” said Jonathan Wood, general manager of business development and partnerships, 5G next generation and standards at Intel.
Ovum’s chief analyst for its entertainment practice, Ed Barton, said: “The big question is: what will not be impacted or disrupted by 5G? The next generation wireless network will power diverse digital innovation – everything from the computerisation of physical objects to artificial intelligence, ushering in an exciting new world that business leaders and indeed nations need to prepare for.”