Romania is poised for strong growth in the audiobook and podcast segments

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Romania is poised to witness a 10% growth in its entertainment and media (E&M) industry. This should see its E&M industry valued at 3.4 billion euros, which would exceed its pre-pandemic level of 2.53 billion euros in 2019, according to the website. business-review.eu reported. The books segment is expected to reach €90 million in 2022, which would represent a modest increase from the €89 million the segment was valued at in 2020.

Growth, however, is expected to be higher with the audiobook and podcast segment given the popularity of both forms in the country. The country has also witnessed the launch of audiobook services Echo and Voxa in the country in 2021. Mainstream newspapers and magazines are again in decline. The segment experienced negative growth of 8% to 46 million euros in 2021 and is expected to decline a further 2% this year.

Overall, the media and entertainment segment is making a comeback now that the pandemic has started to recede in most parts of the world. As things stand, Romania is said to have the second fastest growing media and entertainment industry among Central and Eastern European countries.

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