Growing Popularity of Films and TV Shows Due to The Extensive Usage of Animation Expected to Propel the Growth of the Global Post Production Market by 2031

In the world of filmmaking, post-production is a critical phase that breathes life into raw footage, transforming it into a captivating visual masterpiece. This stage involves a myriad of processes, from video editing and color grading to sound design and visual effects. Post-production is where creativity takes center stage, allowing filmmakers to shape their vision, evoke emotions, and engage audiences on a profound level. Post production involves a lot of elements including video editing, color grading, sound design, visual effects, and music & score.

Forecast Analysis of the Global Post Production Market

According to the report published by Research Dive, the global post production market is anticipated to generate a revenue of $46,533.60 million and grow at a CAGR of 8.5% throughout the analysis timeframe from 2022 to 2031.

The increasing popularity of films and TV shows among individuals owing to the increasing usage of animation is expected to foster the growth of the post production market throughout the estimated timeframe. Besides, the growing popularity of animation across educational industries, and many government agencies including NASA is further expected to bolster the growth of the market throughout the analysis timeframe. Moreover, an increasing number of customers spend time on various social media platforms which is expected to create wide growth opportunities for the market during the forecast timeframe. However, the high cost of production technologies may impede the growth of the market throughout the forecast period. 

The major players of the market include Netflix Inc., Amazon.com Inc., Lions Gate Entertainment Corp., Animal Logic Pty Ltd., Lantern Entertainment, AT and T Inc., Framestore Ltd., Comcast Corp., ErosSTX Global Corp., Deluxe Entertainment Services Group Inc., and many more. 

Recent Developments in Post Production Market

The key companies operating in the industry are adopting various growth strategies & business tactics such as partnerships, collaborations, mergers & acquisitions, and launches to maintain a robust position in the overall market, which is subsequently helping the global post production market to grow exponentially. For instance:

• In October 2021, Framestore, a British animation and visual effects studio planned to open a 30,000-square-foot, purpose-built studio in Mumbai. With the launch of this studio, the company aimed to hire individuals in different areas such as tracking, compositing, and CFX and make a team of 300 persons and expand India’s visual effects sector by leveraging VFX technology.
   
• In July 2022, Netflix, an American subscription video-on-demand streaming television service, announced its acquisition of Animal Logi, an Australian animation and visual effects digital studio. This acquisition would help Animal Logi to accelerate the development of its animation production capabilities and reinforce its studio as a world-class animation studio.
   
• In August 2022, Avid Technology, a leading American technology and multimedia company announced its collaboration with Amazon Studios, an American television and film producer and distributor. With this collaboration, the companies aimed to bring cloud-based editorials to schedule more than 300 original movies and series of Amazon Studios.

Most Profitable Region

The North America region of the post production market held the dominant market share in 2021. This is mainly due to the increasing development of online streaming platforms along with the growing necessity of engaging and visually captivating content across various industries. Moreover, the rising technological advancements in making high-quality content in the advertising industry across the region are predicted to boost the regional growth of the market over the estimated period. 

Covid-19 Impact on the Post Production Market

The outbreak of the Covid-19 pandemic has brought several uncertainties across various industries, including the post production market. Initially, the production processes faced various challenges in discovering solutions to resume filming safely. Many filmmakers halted their production facilities during the pandemic, owing to the strict regulations and restrictions imposed by the governments of many nations. However, the increasing adoption of virtual production techniques by filmmakers to work on new video production projects on various video platforms has increased the growth of the post production market during the period of crisis.