• Advertising spend forecasted to grow three times as fast (6.1%) as E&M consumer spending (2%) – as AI set to transform advertising models and drive hyper-personalisation
• Non-digital categories – such as live music, cinema and events – continues to lead consumer sector revenue, accounting for 61% of sector spending in 2024
• Global cinema revenue expected to rise from $33 billion in 2024 to $42 billion in 2029, as international audiences continue to spend more on locally produced films
• Global video games revenue forecast to grow from $224 billion in 2024 to $300 billion in 2029 – exceeding movie and music industry revenues combined

LONDON, July 24, 2025 /PRNewswire/ — The global entertainment & media (E&M) industry edged towards US$3 trillion in revenue in 2024 and is forecast to hit $3.5 trillion in 2029 as advertising spend surges across platforms, according to PwC’s Global Entertainment & Media Outlook 2025-29, released today.

The E&M industry is projected to grow at a compound annual growth rate (CAGR) of 3.7% until 2029 – a rate above the projected global economic growth average, but below pre-pandemic highs. Economic uncertainty and anaemic consumer spending growth, amid heightened domestic and international competition in the industry, is expected to weigh on E&M growth rates through the forecast period until 2029.

Bart Spiegel, Global Entertainment and Media Leader, PwC US, said:

“As the E&M industry continues to be impacted by broader economic uncertainty and constrained consumer spending, advertising is emerging as the leading powerhouse of the global entertainment and media industry’s revenues – a transformation expected to continue as AI transforms delivery models, democratises content production, serves highly curated content experiences, and reduces barriers to entry. The E&M industry has always been at the forefront of technological innovation, but companies will need to remain nimble and proactive to embrace the future and satisfy consumers in an ecosystem that rewards creativity and tailored content.”

Advertising to serve as industry engine for revenue growth as AI transforms advertising models

As growth for paid or subscription products slows amid heightened industry competition and constrained consumer spending – particularly in mature markets – advertising is forecast to represent a significant driver of revenue growth for the E&M industry at-large.

Of the three major E&M categories analysed (connectivity, advertising, consumer), advertising is expected to grow fastest – three times as fast (6.1% CAGR) as the consumer category (2%).

The fastest growing E&M revenue metrics over the next five years are all advertising driven – including retail advertising (15%), social and mobile on-stream video advertising (15%), and connected TV in-stream internet advertising (14%). Digital formats, which account for 72% of overall ad revenue in 2024, will rise to 80% in 2029, with new technologies including AI and hyper-personalisation expected to drive this even further. High growth areas include retail search advertising in e-shopping (rising from 32.7% in 2020 to 45.5% in 2029) and advertising in video games (rising from 32.8% in 2024 to 38.5% in 2029).

AI is impacting the E&M industry in many ways. One of the areas in which it is likely to influence revenue growth is in connected TV (any television that connects to the internet to stream video content). In 2020, connected TV advertising revenue equated to just 5.9% of total traditional broadcast TV advertising. In 2024, this figure had jumped to 22%. But with the rise of digital engagement and the prospect of AI-assisted hyper-personalisation, which may lead to greater end-user uptake, connected TV ad revenues will rise to $51 billion in 2029 – equal to 45% of traditional broadcast TV advertising.  

For now, connectivity remains the largest category, with spending reaching $1.3 trillion in 2029, growing at CAGR of 2.8% and driven mainly by mobile internet service revenue. However, advertising’s pronounced growth rates are set to see the gulf between connectivity and advertising spend rapidly narrow by 2029.

Non-digital revenue – including live music, events and cinema box office – lead consumer spending

Consumers may spend more of their free time online, but they continue to spend more of their entertainment budget offline. In 2024, non-digital formats accounted for 61% of consumer revenue – a level of spend expected to broadly continue through the forecast period.

While global cinema box office spending is expected to rise from $33 billion in 2024 to $41.5 billion in 2029, consumers’ preferences are continuing to shift toward locally produced films. Globally, the top five US studios’ market share has dropped from over 60% before the pandemic to 51% in 2024.

Video gaming remains an industry bright spot

The global video gaming industry continues to be an engine of E&M growth, with the global video games market exceeding the movie and music industry combined. Total revenues were $224 billion in 2024, with the industry expected to grow to nearly $300 billion in 2029 at a CAGR of 5.7%.

Developing markets continue to lead E&M industry growth rates 

Excluding connectivity revenues (e.g., mobile service subscriptions), the US comfortably leads as the world’s largest E&M market by revenue. It is forecast to grow at a CAGR of 3.8% until 2029 – lagging below the global average of 4.2%. Looking elsewhere, E&M revenues in China – the second largest market – will rise at a CAGR of 6.1%, powered primarily by its internet advertising segment, with a CAGR or 8.9%. The fastest growing markets globally continue to be in developing markets, including India and Indonesia, all with CAGRs above 7.5%. In India, much of the growth will stem from internet advertising – which is growing at a CAGR of 15.9% – driven by expanding internet penetration, rising 5G connectivity, and the popularity of social media and short-form video content. 

Wilson Chow, Global Technology, Media and Telecommunications (TMT) Leader, PwC China, said:

“Consumers have never had as numerous or diverse choices of entertainment services on offer, but this competition, paired with economic uncertainty and rising costs, is seeing consumer spend growth stagnate. If entertainment and media businesses are to capture new audiences and generate growth, they must be thinking about the connected ecosystems in which they operate, leveraging the power of advertising and AI, the combination of which is allowing for far more cost-effective and personalised content creation and engagement models.”

Notes to Editors

About the PwC Global Entertainment and Media Outlook 2025-2029

The PwC Global Entertainment and Media Outlook is an annual report covering the industry. A total of 54 countries and territories, spread across North America, Western Europe, Central Europe, Middle East & Africa, Latin America and Asia Pacific, are represented within the Outlook. The ‘Rest of MENA’ grouping is treated as a territory and comprises Algeria, Bahrain, Jordan, Kuwait, Lebanon, Morocco, Oman and Qatar. This year, it expands its coverage with the inclusion of Mauritius and Oceania as a reported region. These 54 territories account for around 74% of the global population, and the sum of all territories generates the ‘total’ estimate. The forecasting process begins with the collection of accurate and comprehensive historical data from publicly available sources such as trade associations and government agencies, which are cited when used directly. To supplement this, proprietary insights are gathered through interviews with industry associations, regulators, and leading market players. This combination of public and private data ensures a robust foundation for building forecasts.

About PwC 

At PwC, we help clients build trust and reinvent so they can turn complexity into competitive advantage. We’re a tech-forward, people-empowered network with more than 370,000 people in 149 countries. Across audit and assurance, tax and legal, deals and consulting we help build, accelerate and sustain momentum. Find out more at www.pwc.com.

HONG KONG, July 24, 2025 /PRNewswire/ — A news report from Chinadailyhk.com:

The artificial-intelligence revolution is transforming industries worldwide, presenting both unprecedented opportunities and formidable challenges for media transformation.

To address these critical issues, the ASEAN Media Capacity Building Workshop was successfully held in Hong Kong from July 14 through Saturday, gathering over 20 senior media professionals from within the Association of Southeast Asian Nations to explore effective strategies for navigating the AI era and its profound implications for media development.

Participants examined AI’s dual impact on media during the workshop. While AI significantly enhances reporting efficiency, an overreliance on AI may lead to serious factual errors in journalism, tutors from China Daily highlighted at the workshop courses. Reporters need to leverage the strengths of AI, such as its ability to detect spelling and grammatical errors, rather than allowing it to take control of everything during reporting, the tutors said.

Doan Minh Anh, a reporter at VietnamPlus of the Vietnam News Agency, said at the workshop that journalists must always maintain confidence in themselves, as they are the true storytellers. Journalists should make good use of AI, rather than let AI control reporters, she added.

Another key insight is that understanding audience preferences is also crucial for media transformation. Zhong Zhen, managing director from Xiaohongshu’s Greater Bay Area E-commerce Operating Center, stressed the importance of knowing more about the needs of users and creating content with a human touch.

“Content needs to resonate emotionally with users. This is the secret to Xiaohongshu’s popularity,” Zhong said.

During the workshop, reporters and journalists from various ASEAN countries had discussions about the future of traditional media, especially in the context of key opinion leaders. Justin Clarence Lao Tembresa, CEO of Lannang Studios, a media company in the Philippines, emphasized the need for traditional media to enhance the quality of its content to remain relevant in today’s digital age. The key is combining traditional media’s strengths with new technologies while maintaining content warmth, he added.

Participants in the workshop also engaged in an in-depth discussion about photography equipment, mobile shooting, and script design under the guidance of their instructors. Tutors from China Daily provided a detailed demonstration of various shooting devices, including pocket cameras, drones, and action cameras, while explaining composition and framing techniques.

The journalists from ASEAN countries showed great curiosity about mobile photography accessories, continuing their enthusiastic discussions about the equipment even after the session ended.

Reporters and journalists visited multiple sites in Hong Kong, including Cyberport, and the Legislative Council of the Hong Kong Special Administrative Region. These visits provided the media professionals with comprehensive insights into Hong Kong’s technological advancements, legislative framework, and media landscape.

Participants also visited notable sites in Shenzhen, including the Shenzhen Nanshan Energy Ecological Park, which showcases China’s commitment to green economic development.

Soo Wern Jun, a senior journalist from the Malay Mail newspaper of Kuala Lumpur, said the park is a model of energy conservation and environmental responsibility. She said she hopes to bring back the lessons learned at the conference back to Malaysia.

The event is jointly organized by the Chinese Mission to ASEAN and China Daily.

Highlights: 

• With the award-winning SimCorp One platform, which includes SimCorp Managed Business Services and the Axioma analytics suite, AXA will benefit from more efficient and interconnected processes.
• SimCorp chosen for deep industry expertise and integrated capabilities across the full investment lifecycle for public and private market asset classes.

PARIS, July 24, 2025 /PRNewswire/ — SimCorp, a leading global financial technology company, today announced that AXA will implement the award-winning¹ SimCorp One platform alongside SimCorp Managed Business Services to improve portfolio monitoring and strengthen financial risks management.

SimCorp

By adopting SimCorp One, AXA’s investment and risk management teams will benefit from a real-time, consolidated view of positions across all entities in the group.  This helps eliminate operational friction and enables seamless investment monitoring — supporting AXA’s investment requirements of its global insurance business with speed and scale.

“By partnering with SimCorp for both technology and business services, we’re not just implementing a platform – we will transform how we operate,” said Jean-Baptiste Tricot, Group Chief Investment Officer, AXA. “SimCorp’s comprehensive approach delivers multiple strategic advantages: it simplifies our technology stack with a single, integrated platform, while SimCorp’s Business Services will allow us to focus our teams on activities that deliver greater value to our clients. SimCorp’s technology leadership and insurance expertise give us confidence that the platform will scale with our evolving needs.”

SimCorp One addresses critical challenges facing the insurance industry, including increasing regulatory complexity, the need for operational efficiency, and demand for integrated technology solutions that support both public and private market investment strategies.

By selecting SimCorp One, AXA gains access to continuous platform innovation, comprehensive data management capabilities, and specialized insurance industry expertise that will support the organization’s evolving investment requirements across its global operations.

The platform’s unified data model addresses the critical need to balance portfolio management with accounting standards, ensuring consistent risk and investment oversight while supporting compliance with regulatory requirements.

SimCorp’s Axioma analytics suite for advanced risk management, embedded in the SimCorp One offer, enables insurers to better manage and optimize portfolio risk exposures.

“We are honored that AXA has chosen us to help transform their global investment operations,” said Ralf Schmücker, Senior Managing Director, EMEA, SimCorp. “AXA’s decision reinforces SimCorp’s position as the preferred partner for insurers seeking to optimize their investment operations while maintaining the highest standards of investment monitoring and risk management. By offering the market’s only solution that integrates a front-to-back, multi-asset class system built on a unified data structure, we are well-positioned to tackle these challenges and enable a total portfolio approach.”

AXA will utilize SimCorp Managed Business Services for Data Management and Investment Operations. These services will provide timely market and reference data to all platform users and provide comprehensive asset servicing across all AXA assets.  

Discover how SimCorp One can help modernize your organization’s investment operations, data management, and portfolio management. Visit www.Simcorp.com.

About SimCorp 

SimCorp is a provider of industry-leading integrated investment management solutions for the global buy side.  

Founded in 1971, with more than 3,500 employees across five continents, SimCorp is a truly global technology leader that empowers more than half of the world’s top 100 financial companies through its integrated platform, services, and partner ecosystem.  

SimCorp is a subsidiary of Deutsche Börse Group. As of 2024, SimCorp includes Axioma, the leading provider of risk management and portfolio optimization solutions for the global buy side.  
 
For more information, see www.simcorp.com.  

About AXA Group

The AXA Group is a worldwide leader in insurance and asset management, with 154,000 employees serving more than 95 million clients in 50 countries. In 2024, IFRS17 revenues amounted to Euro 110.3 billion and IFRS17 underlying earnings to Euro 8.1 billion.

The AXA ordinary share is listed on compartment A of Euronext Paris under the ticker symbol CS (ISN FR 0000120628 – Bloomberg: CS FP – Reuters: AXAF.PA). AXA’s American Depository Share is also quoted on the OTC QX platform under the ticker symbol AXAHY.

The AXA Group is included in the main international SRI indexes, such as Dow Jones Sustainability Index (DJSI) and FTSE4GOOD.

It is a founding member of the UN Environment Programme’s Finance Initiative (UNEP FI) Principles for Sustainable Insurance and a signatory of the UN Principles for Responsible Investment.

Media Contact: Sean B. Pasternak, Global Communications, SimCorp, +1-647-975-7326, sean.pasternak@simcorp.com

SHENZHEN, China, July 24, 2025 /PRNewswire/ — After securing investments earlier this year from leading Middle Eastern and South Korean investors, EngineAI has successfully concluded its Pre-A++ and A1 funding rounds. The Pre-A++ round was led by XPeng-backed Rockets Capital, while JD.com spearheaded the A1 round with participation from strategic investors CATL Capital (affiliated with CATL) and Yintai Group, as well as institutional investors TH Capital, Guochen Venture Capital (Fortune Capital affiliate), and Huangpu River Capital. Existing shareholders also joined the two rounds. The strong investor confidence allows EngineAI to enter into mass production, further diversify product lines, and achieve breakthroughs in the real-world deployment of embodied intelligence and related technologies.

A rising star in humanoid robotics, EngineAI drives innovation through cutting-edge technology, delivering intelligent, hyper-agile robots. Its proprietary joint modules set industry benchmarks for explosive power, torque, and rotational speed, enabling lifelike motion. By solving Sim2Real challenges, the company has carved out a unique tech advantage, achieving millimeter precision in high-dynamic maneuvers like complex dances, front flip, and sprinting.

The global humanoid robotics market is forecast to exceed $100 billion by 2030, driven by strong enterprise demand across manufacturing, services, and logistics. EngineAI’s “open-source hardware + ecosystem profit-sharing” model accelerates market penetration through strategic partnerships, enabling rapid application diversification and developer engagement. To overcome embodied intelligence hurdles, the company merges traditional control systems with reinforcement learning, boosting efficiency, precision, and reliability. This dual approach not only truly meets market demands but also gradually penetrates into consumer households, forming a unique commercial ecosystem.

The newly secured capital will enable rapid advancement of EngineAI’s core initiatives in H2 2025:

• Product Development: EngineAI has built a comprehensive product matrix spanning bipedal and full humanoid robots across performance tiers. The company is now scaling trial production and delivery, targeting a 5x expansion of its production team to meet surging demand.
• Technology Leadership: Embodied intelligence R&D will see intensified investment to fast-track core technology commercialization, solidifying EngineAI’s global market position.

EngineAI has established strategic collaborations with industry giants including NVIDIA, Amazon, JD.com, Tencent, and ByteDance to advance humanoid robotics applications across commercial services, hazardous operations, and cultural tourism. These partnerships are accelerating the path to large-scale commercial adoption.

With production accelerating and certain production segments already exceeding capacity targets, EngineAI is on track to complete optimization upgrades ahead of Q4 2025.  This expansion ensures reliable delivery of advanced robotic solutions, positioning the company for successful mass-market penetration.

EngineAI is expanding its workforce across critical R&D, production, and market expansion roles. The company is simultaneously enhancing its internal training programs to develop employees’ technical and leadership capabilities, building a sustainable talent engine for continuous innovation.

Looking ahead, EngineAI will intensify efforts in mass production, product diversification, and embodied AI implementation, contributing core strengths to the high-quality development of the humanoid robotics industry.

For more information about EngineAI, please visit https://www.engineai.com.cn/.

CONTACT:
Zibin Cen
cenzb@engineai.com.cn

BALI, Indonesia, July 24, 2025 /PRNewswire/ — Framed by lush tropical gardens and the pristine coastline of Nusa Dua, The Laguna Bali, invites families to discover an inspiring blend of adventure, culture, and timeless coastal elegance. Set within one of the island’s most captivating destinations, this Bali luxury resort offers curated experiences that are as meaningful as they are memorable, whether for first-time explorers or returning guests seeking new depths of connection.

“Bali has a unique way of bringing families closer. At The Laguna Bali, we aim to make every moment feel warm and meaningful—where children, parents, and grandparents can share quality time together while deepening their appreciation for local culture through our Indigenous Bali program. This is the kind of experience we strive to share with every guest,” says Lucia Liu, General Manager, The Laguna, a Luxury Collection Resort & Spa, Nusa Dua, Bali.

Where Every Generation Discovers Bali

Designed for multigenerational travelers and young adventurers alike, the resort’s signature experiences draw inspiration from the Indigenous Bali series. This celebration of local traditions is thoughtfully woven into immersive family activities, offering guests a rare opportunity to engage with the island’s rich cultural heritage. Children and adults alike can try their hand at the sacred art of Lontar inscription, learn traditional cooking techniques during the Epicurean Journey and begin the day with a guided visit to the vibrant Kedonganan fish market.

On the property, families can enjoy active moments together with beach volleyball, explore nearby coastal paths on bicycles, or take a leisurely stroll to the dramatic Water Blow site. These enriching activities help highlight why Nusa Dua remains one of the most beloved places to visit in Indonesia for luxury-minded travelers seeking authentic island experiences.

Seven Sparkling Lagoons, Countless Memories

The heart of the resort lies in its seven shimmering lagoons, each offering a tranquil setting for relaxation and connection. From the expansive saltwater pool to the dedicated children’s area designed for carefree splashing, these aquatic sanctuaries offer something for every member of the family.

For guests seeking a deeper connection with their surroundings, the Lagoon Access Rooms offer a truly unique experience. These thoughtfully appointed accommodations, available in Deluxe Lagoon Access, Studio Lagoon Access, and Lagoon Access Suite categories, allow guests to step directly from their private terrace into the inviting waters of the lagoon. This effortless access adds a sense of play and discovery to every moment, creating joyful memories that linger long after the journey ends.

A Stay Designed Around Togetherness

Whether traveling with young children or gathering with loved ones across generations, each guestroom and suite is designed with flexibility, comfort, and family in mind. The Lagoon Access Rooms in particular provide an added layer of spontaneity and delight, blending indoor elegance with the gentle rhythm of outdoor living.

From cultural enrichment to water-bound fun, The Laguna Bali redefines the Bali vacation with a spirit of timeless discovery, an illuminating retreat in one of the most iconic Nusa Dua resort Bali destinations.

For more information, visit www.thelagunabali.com.

BALI, Indonesia, July 24, 2025 /PRNewswire/ — Nestled on the serene shores of Nusa Dua, Kayuputi Restaurant at The St. Regis Bali Resort, which has been recognized for two consecutive years among Travel + Leisure’s 100 World’s Best Awards, redefines fine dining in Bali through an elegant fusion of Asian-inspired haute cuisine and timeless coastal sophistication. Renowned for its Kayuputi brunch Bali, immersive degustation menus, and private dining experiences, this luxury beachfront restaurant overlooking the Indian Ocean continues to captivate discerning travelers and connoisseurs alike with its panoramic views, making it the perfect setting for romantic dinners, special celebrations, and curated gourmet dining.

A Legacy of Excellence 
Named one of the best restaurants in Bali, Kayuputi earned its 16^th consecutive Best Award of Excellence from Wine Spectator in 2025. Further accolades include being ranked #7 fine dining restaurant in Indonesia by TripAdvisor’s Travelers’ Choice Awards 2024 and Silver Winner at the Honeycombers Bali Best Awards 2024, reinforcing its reputation as the best fine dining in Nusa Dua.

Signature Weekend Brunches 
Elevating Sunday brunch in Bali, Kayuputi offers two signature experiences. The St. Regis Bali Brunch, held every Saturday from 11:00 AM to 3:00 PM, is a lavish celebration of seasonal ingredients, premium seafood, and curated pairings. On Sundays, The Astor Brunch pays tribute to the Astor family’s legendary hospitality with an evolving menu of gourmet selections, fine wines, and breathtaking views, earning its reputation as the best brunch in Bali.

Coastal Sophistication and Culinary Artistry
The name Kayuputi, meaning “white wood” in Indonesian, reflects its airy, elegant design inspired by beachfront living. Floor-to-ceiling windows flood the space with natural light, while the terrace sets the stage for sunset dining. Whether for a sunset celebration, or to book fine dining in Bali, Kayuputi invites guests to discover a Michelin star restaurant Bali-level experience.

Upcoming Culinary Highlight: Chef Richard Schmidtkonz 
On 1–2 August 2025, Kayuputi will host acclaimed Chef Richard Schmidtkonz of Einstein Gourmet for a two-night culinary showcase. His globally inspired creations bring a touch of Swiss finesse and innovation to this exclusive fine dining event in Bali.

“Bringing international chefs is a great opportunity for us and the team to connect with global culinary trends and push our boundaries,” shares Chef Agung Ardiawan, Director of Culinary. “We are just as curious as they are. They come eager to learn about Asian techniques and Southeast Asian flavors and spices. Together, we exchange ideas and evolve—each collaboration is a two-way journey of discovery.“

Reserve a Table 
With international acclaim and timeless elegance, Kayuputi Restaurant Bali stands as a pinnacle of elevated dining. Marriott Bonvoy® members can earn and redeem points when dining, even without a stay.

For more information, please visit kayuputibali.com.

KUALA LUMPUR, Malaysia, July 24, 2025 /PRNewswire/ — DOBOT Robotics officially announces the grand opening of its Malaysia subsidiary, marking a key milestone in its global expansion. This new chapter strengthens the company’s commitment to driving technological innovation and collaboration with local partners in Malaysia and Southeast Asia.

“We are excited to celebrate the opening of DOBOT Malaysia,” said the DOBOT’s co-founder, Junjie Xie. “This expansion underscores our dedication to bringing innovative robotics solutions and supporting Malaysia’s Industry 4.0 transformation.”

Since its inception, DOBOT has been dedicated to liberating human potential through innovative collaborative robotics. Over the past decade, the company has broken through technological barriers, achieving breakthroughs in areas such as control systems, motion control, AI, and machine vision. To date, DOBOT has shipped over 80,000 units globally, earning the trust of 80+ Fortune 500 companies and 6,000+ educational institutions.

Supporting Malaysia’s Smart Manufacturing Transformation

Malaysia, as a key hub for manufacturing and technology innovation in Southeast Asia, offers a growing opportunity for collaborative robotics. DOBOT Malaysia aims to support this growth by focusing on four key strategies:

1. Empowering Smart Manufacturing

DOBOT will offer tailor-made solutions for local manufacturers, optimizing precision and efficiency in processes like electronics assembly, welding, and quality inspection, enhancing global competitiveness.

2. Deepening Industry-Education Integration

Through collaborations with local universities and vocational institutions, DOBOT will establish smart training centers and support programs aimed at developing future talent for Malaysia’s evolving manufacturing sector.

3. Enhancing Localized Services

DOBOT will establish a responsive local service network to provide technical support, customized training, and after-sales services, ensuring a superior customer experience.

4. Co-Building an Innovation Ecosystem

By partnering with system integrators, technology providers, and manufacturers, DOBOT aims to develop a collaborative robotics ecosystem that drives innovation and end-to-end automation solutions.

Shaping an Intelligent Future Together

The opening of DOBOT Malaysia signifies a new era of technological innovation, collaboration, and industry advancement. As Malaysia embraces the smart manufacturing revolution, DOBOT is excited to partner with local businesses and educational institutions to help shape the future of automation in the region.

With a shared vision, DOBOT looks forward to a prosperous journey, unlocking new possibilities in the intelligent era.