In a newly released report by Ovum titled, “5G Economics of Entertainment Report,” it is forecast that over the period of 2019 to 2028, “media and entertainment companies will be competing to win a share of a near-$3 trillion cumulative wireless revenue opportunity. Experiences enabled by 5G networks will account for nearly half of this revenue opportunity (close to $1.3 trillion).”  

The press release announcing the report highlights a quote from Jonathan Wood, general manager of Business Development & Partnerships, 5G Next Generation and Standards at Intel.  “5G will inevitably shake up the media and entertainment landscape,” Wood proclaims, “It will be a major competitive asset if companies adapt. If not, they risk failure or even extinction. This wave of 5G transformation will not be the purview of any singular industry, and now is certainly the time for all business decision-makers to ask: Is your business 5G-ready?” 

Among the report’s highlights:

• As early as 2025, 57% of global wireless media revenues will be generated by using the super-high-bandwidth capabilities of 5G networks and the devices that run on 5G.
• 5G will accelerate content consumption, including mobile media, mobile advertising, home broadband, and TV, and it will improve experiences across a broad range of new immersive and interactive technologies—unleashing the full potential of augmented reality (AR), virtual reality (VR), and new media.
• Average monthly traffic per 5G subscriber will grow from 11.7 GB in 2019 to 84.4 GB per month in 2028, at which point video will account for 90% of all 5G traffic.
• AR and VR experiences will generate $140 billion in cumulative revenues (2021-2028)
• Immersive and new media applications—applications and capabilities that are currently nonexistent—are forecast to generate more than $67 billion annually by 2028 or the value of the entire current global mobile media market (video, music, and games) in 2017.