PwC: Media, Entertainment Spending to Grow 2.7% Through '13

Authored by Mark Hefflinger on June 16, 2009 - 11:24am.

London - The global entertainment and media market is expected to grow at a compound annual growth rate of 2.7% over the next five years, to reach $1.6 trillion in 2013, according to the annual report from PricewaterhouseCoopers.

The firm projects a decline of 3.9% for 2009, followed by growth of just 0.4% in 2010, before regaining strength and reaching 7.1% in 2013.

"What we are sure about is that this recession will last longer than previous ones due to a steeper downturn and that the impact on consumer spending will be much steeper than in the past," the report said.

The media and entertainment sectors in Latin America and Asia Pacific are expected to show few ill effects of the downturn, growing at rates of 5.1% and 4.5% during the period, respectively.

Global spending on advertising in entertainment and media is projected to decline at a compound rate of 0.6% from now through 2013, while the proportion of Internet and mobile advertising is expected to rise from 12% in 2008 to 19% in 2013.

One bright spot was video game ads, which are expected to outpace the rest of the industry at a 13.8% compound growth rate.

Disclosure: PwC has been a sponsor of Digital Media Wire, and advertiser on our website and in our newsletter.

Related Links:
http://snipurl.com/k9apb (PwC announcement)

http://snipurl.com/k9alj (PaidContent)

http://snipurl.com/k9aj1 (Billboard)