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Report: Global Entertainment & Media Industry to Hit $1.8 Trillion in 2010

Authored by Mark Hefflinger on June 21, 2006 - 2:23pm.
New York - The global entertainment industry has entered a "solid growth phase," and will increase at a 6.6% compound annual growth rate to $1.8 trillion in 2010, according to a PricewaterhouseCoopers report. The Global Entertainment and Media Outlook: 2006-2010 report forecasts that spending on mobile and online entertainment will increase three-fold, from $19 billion in 2005 to $67 billion by 2010 -- when the world is expected to count 433 million broadband households and 2.8 billion mobile subscribers. The Asia-Pacific region will experience the most rapid growth, with China overtaking Japan as the largest Asian consumer of entertainment by 2009. The U.S. is expected to see media spending increase at an average of 5.6% per year, hitting $726 billion in 2010. The firm predicts that Internet advertising sales will grow from $385 billion in 2005 to $521 billion in 2010, when they will represent nearly 10% of all global advertising spending. Piracy is also expected to have a lesser impact on sales, due to industry trade associations, greater government action, improved economic conditions and licensed alternatives. "Virtually every segment of the entertainment and media industry is shifting from physical distribution to digital distribution of content," said Wayne Jackson, global leader of PricewaterhouseCoopers' entertainment and media practice. "As this shift continues, we see more revenue opportunities for entertainment and media companies."

http://biz.yahoo.com/prnews/060621/nyw001.html?.v=52
http://tinyurl.com/lfrzw (Reuters)
http://www.pwc.com/outlook

tags: Marketing | Reports | Metrics | Commerce | Investing | Revenues | Retail | PwC | Entertainment Industry |



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