Led by surging growth in the online sector, global entertainment and media will expand into a $1.83 trillion industry in 2010, up from an estimated $1.33 trillion last year, making for a compound annual growth rate of 6.6 percent, according to an annual study from PricewaterhouseCoopers.
Consumer/end-user spending gains will outpace advertising growth as PwC estimates compound annual increases of 6.8 percent and 6.2 percent, respectively, during the next five years. The biggest global industry engines during that time frame will be Internet advertising and access spending, for which PwC projects a compound annual growth rate of 12.9 percent, and video games, with an estimated 11.4 percent compound gain. Filmed entertainment will expand at a rate of 5.3 percent, according to PwC.
The projected 6.6 percent compound annual growth rate for the latest five-year frame compares with 7.3 percent in last year's report, with PwC having brought down its 2009 entertainment market revenue estimate from $1.78 trillion to $1.73 trillion.
For the U.S., the latest annual "Global Entertainment and Media Outlook: 2006-2010" predicts the entertainment economy to expand from an estimated $553.49 billion in 2005 to $726.22 billion in 2010. That would mean a compound annual gain of 5.6 percent.
In terms of geographical entertainment and media industry hotbeds, the Asia Pacific region will see the strongest five-year growth spurt at a 9.2 percent compound annual rate -- driven by China and India, followed by Latin America at 8.5 percent and Europe/Middle East/Africa at 6.1 percent.
Consumer/end-user spending gains will outpace advertising growth as PwC estimates compound annual increases of 6.8 percent and 6.2 percent, respectively, during the next five years. The biggest global industry engines during that time frame will be Internet advertising and access spending, for which PwC projects a compound annual growth rate of 12.9 percent, and video games, with an estimated 11.4 percent compound gain. Filmed entertainment will expand at a rate of 5.3 percent, according to PwC.
The projected 6.6 percent compound annual growth rate for the latest five-year frame compares with 7.3 percent in last year's report, with PwC having brought down its 2009 entertainment market revenue estimate from $1.78 trillion to $1.73 trillion.
For the U.S., the latest annual "Global Entertainment and Media Outlook: 2006-2010" predicts the entertainment economy to expand from an estimated $553.49 billion in 2005 to $726.22 billion in 2010. That would mean a compound annual gain of 5.6 percent.
In terms of geographical entertainment and media industry hotbeds, the Asia Pacific region will see the strongest five-year growth spurt at a 9.2 percent compound annual rate -- driven by China and India, followed by Latin America at 8.5 percent and Europe/Middle East/Africa at 6.1 percent.