The $2.2-trillion global entertainment and media in the next four years will be spearheaded by India and China, whose economies have started bristling with disposable incomes and an urbanised middle-class.This is amidst a surprising scenario where the US remains the largest but slowest growing market in the sector. The new scenario will also be driven by a huge amount of strategic alliances in the industry. ‘’We’re seeing a new business model solidify for entertainment and media companies,’’ said Marcel Fenez, managing partner, Global Entertainment and Media practice, PricewaterhouseCoopers (PwC).
Asia-Pacific and Latin America will be the fastest growing with the double-digit increases expected in each region for internet advertising, internet access spending, TV subscription and licence fees, casino and other regulated gaming and video games. Latin America will total $85 billion by 2012, up from $51 billion in 2007 advancing from a relatively small base at 10.6 per cent of the compounded annual growth rate (CAGR). Spending in Asia-Pacific will average 8.8 per cent CAGR, the second highest in any region, increasing from $333 billion in 2007 to $508 billion in 2012. Europe, Middle East and Africa will expand 6.8 per cent CAGR to reach $792 billion
31.7.08
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