The boom in Australia and New Zealand’s entertainment market

The entertainment industries in Australia and New Zealand are one of the best in the world, in which Aussies and Kiwis are no stranger when it comes to quality entertainment. Over the years, these two countries have had a big impact on the global entertainment industry, with the likes of Kylie Minogue and Lorde coming from these countries and producing record breaking soundtracks. In addition, shows like Neighbours and Bluey for the young ones have had a lasting impact on households across the world and continue to do so today.

As technology has developed, certain niche areas of the entertainment industry in Australia and New Zealand have thrived, while others have dwindled and become less popular. Despite this, Australia and New Zealand continue to hold a strong reputation when it comes to the entertainment industry. According to a 2017 report by PwC (‘Australian Entertainment & Media Outlook’), the Australian entertainment industry is set to be worth $43.7 billion by 2025. Below, we’ll take a look at some of the most popular entertainment avenues in these two countries and what is making them such a success.

Video Gaming

Video gaming has grown more and more popular across the globe in recent years, with the most common reason for this being that more households now have access to quality wifi and a higher disposable income to spend on games.

When it comes to quality video games, Aussies and Kiwis are no stranger to these, with the Marvel franchise being one of the most successful gaming franchises in these markets. In addition, classics like Grand Theft Auto, Pokemon, and Call of Duty have all been highly successful in these countries too.

According to statistics, the revenue for the video gaming market has overtaken revenue for the film and music industries, especially as video games become more and more advanced and incorporate cutting edge technologies like virtual reality, life streaming and cloud gaming.

Casinos

Gambling is an incredibly popular activity among Australians, in which data shows that over 72.8% of adults in Australia have gambled in the last 12 months. The sports betting and casino sectors are incredibly popular across Australia, and while taxation on such activity is very high, it also drives a high amount of revenue for the government.

The picture in New Zealand when it comes to gambling is a little different, in which there are only 6 casinos in total across the whole of New Zealand. Four of these belong to the same company, meaning there is little diversity in the casino market. When it comes to online gambling in New Zealand, it is a similar story as only licensed providers are allowed to provide their services, which is restricted to national lotteries; Lotto NZ and TAB. However, there are no laws prohibiting the use of offshore online casino providers within New Zealand allowing Kiwis to play their favourite casino games online at overseas providers.

Online casino games are also accessible in Australia, although they are still heavily restricted by the government. While games like real money online poker are not legal according to the legislation created in 2017, there are still some quality sites that are accessible. SImilarly, online sports betting is highly popular throughout Australia and there are quite a few legal outlets for doing so.

The rise of smartphones and apps

The rise of smartphones and app technology has created a whole wealth of opportunities for the entertainment industry. Not only can most of the population in these countries now access the internet through their smartphone, they are able to access live streaming services, gaming apps, on demand movies, sports betting apps, book festival and concert tickets at the touch of a button, and so much more.

Smart phones have been a real game changer, however apps have added a new level of sophistication too. Apps make it more convenient for people to access the services they want to and also create a more personalized experience too. For example, they can store payment details, profile information, provider personalized suggestions, keep play data, and so much more.

The role of advertising industries

The advertising industry has never played a more vital role than it does in the 21st century. Advertising spending is continuing to increase in both countries, driving forward the success of multiple entertainment outlets and ensuring that both Australia and New Zealand keep a firm footing in the international market too.

Overall, the entertainment industries in Australia and New Zealand are a little different to one another, however both have their unique qualities that is allowing them to thrive in the 21st century. Thanks to a mix of Aussie/ Kiwi talent, and an influx of international influences, the entertainment industry in these countries has never flourished so much.