Media

The Information sector creates and distributes media content to US consumers and businesses. Overall, the sector responds to trends in household formation, which influences subscription volumes to communications services; advertising expenditure, which generates nearly one-fourth of sector revenue; and consumer incomes and spending habits, which influence the extent to which households purchase discretionary entertainment products. The industry also sells some products and services directly to businesses and is influenced to a lesser extent by trends in corporate profit and business sentiment. Over the five years to 2022, sector revenue is expected to increase an annualized 3.4% to $2.1 trillion, including a marginal increase of 0.8% in 2020 due to the broad economic factors surrounding the COVID-19 (coronavirus) pandemic. In 2022, revenue is expected to grow 2.5%.