Media capital is moving off the screen and into the room. U.S. revenue across cinema, live music, out-of-home (OOH) advertising and trade shows has nearly doubled since 2021, reaching about $149 billion in 2025. PwC expects that figure to climb to $174 billion by 2030. On a global basis, spending across the same four segments is projected to approach $294 billion by 2030.
Two structures push the shift. The first is supply. Generative AI has driven down the unit cost of video, music and images, moving digital content toward unlimited supply and stripping out the scarcity that held up ad rates and subscription pricing on screen. The second is the seat. Stadiums and concert halls do not add capacity on demand. Only goods with fixed supply retain pricing power, and Wall Street has begun pricing the difference.