PWC Announces Bright Future for Entertainment and Media Industry

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by: Alain Thys

Media and entertainment is already one of the biggest industries on the planet, and by the looks of it, it's getting even bigger. 7.3 percent per year to be exact, and that until 2009. This is at least the take of Price Waterhouse Coopers (PWC) who just released their Global Entertainment & Media Outlook 2005-2009, in which the billion dollar growth figures fly around like the dot-com days were back again.

Biggest growers remain video games and the internet, while digital distribution & mobile music will boost the recorded music industry. Geographically China is once again going for the number one spot, in which they're predicted to become Asia/Pacific's largest entertainment market by 2008. Also, advertising is back on the upswing. Over the coming 5 years annual growth figures of 5.9% will push advertising expenditures from $ 358 billion in 2004 to $ 477 billion in 2009, in which internet advertising at 15.9% a year is going to be the fastest growing category. While I'm always a little amazed on how anyone can put together this type of forecasts, I would say that even if they're only half right (which being PWC they should be), happy times are coming for those in marketing & media.

Via: PR Newswire

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