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How large is the US/Worldwide Comedy Market in USD?
Hello! Thank you for your request to determine the US/Global market size for the Comedy Industry. The short version is that the global comedy market for 2016 was $40.827 billion (US market - $8.201 billion), expected to reach $42.307 billion (US market - $8.337) in 2017. The global market for comedy clubs for 2016 was an estimated $1.597 billion (US market - $0.321 billion), expected to reach $1.627 billion (US market - $0.327 billion) in 2017. The global comedy market in TV and Films for 2016 was an estimated $39.23 billion (US market - $7.88 billion), expected to reach $40.68 (US market - $8.01) in 2017.
METHODOLOGY
I have scoured the Internet for articles, papers and statistics related to this subject.
For television, since the exact numbers were not available, ad spending was used in estimating proportions, since this accounts for nearly 70% of revenue.
FINDINGS
An article on Billboard states that in 2012, the US entertainment market comprised 29.2% of the global market, this will grow to 29.4% in 2017 and reach a value of $632.09 billion, out of the global $2.152 trillion.
The US film industry is said to reach a value of $36.35 billion, out of the global $106.01 billion.
IBIS World states that the US Television broadcast industry is worth $51 billion annually, showing annual growth of 3.3%, therefore we can estimate that the 2017 market size will reach $52.7 billion. Statista puts the global market at $297 billion, projected for 2017.
Statista provides insight into the revenue of films by genre for North America, from this we see that comedy films account for 21.53% of film revenue. Since the US market comprises such a sizable portion of the global market it is entirely feasible that the global market would show similar proportions. A report on the Chinese film industry supports this statement, as comedies and romantic comedies account for 11.5% of the film industry's revenue, with action-comedies stated to be very popular, but classed under the 'action' banner.
The US box office market is said to be $11.251 billion for 2016, out of the global box office market of $38.3 billion for 2016 (expected to reach $41.2 billion in 2017 and $44 billion in 2018). Therefore we can conclude that revenue from films in the comedy genre amount to (in billions):
US World
2016 $2.42 $8.25
2017 $2.37 $8.87
Statista states that sitcoms generate 10.71% of Television revenue in the US. Since US television advertising is fairly similar to global trends, it is entirely feasible that global trends will follow a similar path to the US, therefore if we apply these numbers to all data considered we estimate revenue for television comedy to be:
US World
2016 $5.46 $30.98
2017 $5.64 $31.81
According to an article on BBC, the US comedy club market is set to grow at 1.8% per annum to $344.6 million in 2020. Working this backwards we see 2016 and 2017 revenues of $320.87 million and $326.64 million, respectively. Although no source could be found that stated global statistics, numerous articles were found, citing similar attendance to the US market, as well as similarly priced tickets. Therefore it is entirely feasible to assume that the global market will reflect trends in the US market, especially considering the correlation between the US and global market in all other comedy sectors. If we are sum up the above values we see that the US comedy TV and Film industry amounts to $7.88 billion, and globally $39.23 billion. This would show that the US market accounts for 20.1% of the global comedy market. If we apply this percentage to the stated US market size we can estimate the global market.
The breakdown for comedy clubs is as follows (in billions):
US World
2016 $0.321 $1.597
2017 $0.327 $1.627
This would put the entire comedy market at:
US World
2016 $8.201 $40.827
2017 $8.337 $42.307
CONCLUSION
To wrap it up, the global comedy market for 2016 was $40.827 billion (US market - $8.201 billion), expected to reach $42.307 billion (US market - $8.337) in 2017. The global market for comedy clubs for 2016 was an estimated $1.597 billion (US market - $0.321 billion), expected to reach $1.627 billion (US market - $0.327 billion) in 2017. The global comedy market in TV and Films for 2016 was an estimated $39.23 billion (US market - $7.88 billion), expected to reach $40.68 (US market - $8.01) in 2017.
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