TLDR:
- Global VC funding in media, entertainment, and gaming is up 58% for the first half of 2024
- Key elements of the article include a 58% increase in global venture funding into MEG in the first half of 2024, driven by Disney’s $1.5 billion investment in Epic Games and a 15% pickup in venture MEG activity in Asia
Global venture funding in media, entertainment, and gaming has seen a significant increase of 58% in the first half of 2024, according to data from Crunchbase. Notable highlights from the article include Disney’s $1.5 billion investment into Fortnite maker Epic Games, which played a major role in driving this increase, as well as a 15% uptick in venture MEG activity in Asia compared to the latter half of 2023. In addition, M&A activity in the sector has also seen a substantial rise, with dollar volume increasing by 100% year over year and doubling from the first half of 2023. Take-privates, such as Silver Lake’s $25 billion buyout of Endeavor and EQT’s $2.8 billion purchase of Keywords Studios, have contributed significantly to this surge in M&A activity. Despite initial concerns about the state of the MEG industry, the data suggests a positive outlook for the sector in 2024, following a challenging period in 2023 characterized by tech layoffs and a drop in global venture funding.
