PRZOOM - /newswire/ -
London, United Kingdom, 2008/10/02 - Report Buyer, the online destination for business intelligence for major industry sectors, has added a new report analysing the global entertainment and media market.
Report Buyer, has added a new report analysing the global entertainment and media market.
“Global Entertainment and Media Outlook: 2008-2012”, which is available online reports that the U.S. entertainment media market will grow at 4.8% CAGR reaching $759 billion in 2012.
The report written by PriceWaterHouseCoopers (PWC), estimates the global compound annual growth rate (CAGR) at 6.6% for the sector, anticipating it reaching $2.2 trillion in 2012. Out of this growth, digital and mobile distribution will account for 24% of the market’s growth in the next five years.
According to the report, entertainment and media companies hoping to drive growth during the next five years will need to accommodate dramatic changes in devices, market and consumer behaviour through strategic business alliances.
PWC analysts highlight that several critical technologies are now reaching tipping points that will deeply influence both the pace and direction of entertainment and media growth during the next five years.
Broadband penetration continues to accelerate globally. Mobile is gaining ground quickly - adding subscribers and upgrading infrastructure to enable the next wave of mobile expansion, driven by Internet access, advertising and television.
Furthermore, modern movie houses, digital cinemas and 3-D upgrades are enhancing the cinema-going experience, while high-definition television subscriptions and a resolution of the high definition DVD format wars will invigorate digital living rooms. The global broadband boom continues unabated, fuelling overall growth, and more than doubling again to 661 million households in 2012, a 16.4% compound annual increase.
While digital and mobile are driving growth, according to the study, established and traditional business segments will continue to dominate revenues, with the exception of recorded music, where digital distribution will surpass physical distribution in 2011.
By 2012, digital and mobile revenues will account for just 11% of total entertainment and media spending, or $234 billion of the $2.2 trillion global market. In comparison, by 2012, digital and mobile revenues will account for 10% of total entertainment and media spending in the U.S., or $75 billion of the $759 billion U.S. market.
As the trend towards globalisation in the entertainment and media industry continues, Brazil, Russia, India and China will remain important sources for growth throughout the entire entertainment and media sector, driven by rising disposable incomes and an increasingly urbanised middle class.
In addition, PWC note that a large and diverse group of countries are also breaking away from the pack. According to the report, entertainment and media markets across fifteen countries will expand at double-digit annual rates during the next five years, with Saudi Arabia and the Pan-Arab region experiencing the fastest growth. Vietnam will be the world’s fastest-growing television subscription and license fee market over the next five years - growing at 29.3% CAGR.
Report Buyer product ID: PWC00002
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