SelectUSA Media and Entertainment Industry
Industry Overview
The U.S. media and entertainment (M&E) industry is the largest in the world. At $649 billion, it represents 23 percent of the global M&E industry, and it includes motion pictures, television programs and commercials, streaming content, music and audio recordings, broadcast, radio, book publishing, video games, and ancillary services and products. In 2023, foreign direct investment accounted for $35.2 billion in the motion picture and sound recording industry and $8.9 billion in the radio and cable broadcasting industry. Foreign-owned businesses in the U.S. motion picture and sound recording industry employed 34,500 workers in 2022.
The U.S. motion picture and video industry encompasses films, movie theaters, TV subscriptions and electronic home video production, and distribution and consumption. Traditionally the film industry consisted of multinational umbrella corporations, major studios, and independent studios or “indies.” Today, multi-channel networks engage in the filmed entertainment sector and SVOD platforms are major drivers in the filmed entertainment sector.
Drawing on formidable strengths, the U.S. film industry has a proven ability to produce films that generate hundreds of millions of dollars, including revenues from distribution across strong domestic and international networks. Success in the industry is based on creativity and financing, and the industry is largely self-regulated. The U.S. market has a large talent pool of writers, actors, producers, directors and technical experts, and is home to a variety of film crews, post-production firms, backdrops, and infrastructure to support production. U.S. filmmakers also receive critical protections for their intellectual property.
Many of the leading motion picture studios are part of larger media conglomerates that often include television, video and streaming services, music services, newspaper, cable and magazine segments. The industry offers attractive possibilities for international companies, both large and small, and provides film production tax incentives. With the shift toward digital production and distribution, foreign firms are continually seeking out U.S. digital and animation expertise and new formats.
The sound recording industry includes music publishers, sound recording studios, and record production and distribution. In 2023, there were an estimated 21,000 employees in the sound recording industry, and in 2022 there were 4,458 establishments in the industry.
The broadcasting industry includes radio stations, television broadcasting, and cable and other subscription programming. In 2022, there were 7,746 establishments in this industry.
Explore the impact of foreign direct investment on U.S. jobs, exports, and innovation in the media and entertainment industry.
The Investor Guide is a high-level view of everything from taxes to immigration and workforce to business structures.
SelectUSA has created several dashboards to help analyze key FDI data from a variety of sources.
