After a few years of sluggish growth, spending in the global entertainment and media industry is set to reach $1.700 billion by 2008, according to PricewaterhouseCooper’s latest Global Entertainment and Media Outlook report.
The Asia Pacific market emerges as the key industry driver for the 6.3% compound global annual growth rate expected, compared to 4.2% in 2003.
Internet advertising is also expected to be a driver over the next five years, as is other internet based channels such as broadband and wireless communications.
The report said that although the internet is the smallest of the six advertising mediums tracked, it will remain the fastest growing to reach $18.9 billion in 2008, growing by 12.7%.
Global leader at PwC said: “Paid search and rich media propelled spending in 2003 and the growing number of broadband households along with expanding ecommerce makes the internet more attractive to advertisers.”
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