Increased consumer spending on virtual concerts, events and more, and technological innovations that enhance audience engagement and support franchise development fuel the growth of the global metaverse in the entertainment marketplace.

PORTLAND, Ore., December 1, 2022 /PRNewswire/ — Allied Market Research released a report titled “Entertainment Market Metaverse by Component (Hardware, Software, Service), by Technology (Blockchain, VR & AR, Mixed Reality, Other), by Application (film production, music labels, OTT platforms, TV broadcasters, others): global opportunity analysis and industry forecast, 2021-2031”. According to the report, the global metaverse in the entertainment industry is estimated to generate $13.8 billion in 2021 and $221.7…