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: Content is increasingly immaterial, existing within environments like the Metaverse rather than on physical shelves.

The industry has moved decisively away from physical formats toward digital services, with digital media spending expected to surpass 50% of the total market.

The global entertainment and media (E&M) landscape is undergoing a fundamental transformation, shifting from mass-marketed physical products to hyper-personalized digital experiences. This "deep review" examines the core drivers of this shift: the virtualization of content, the integration of artificial intelligence, and the changing psychology of consumer engagement. The Shift from Ownership to Access