Media & entertainment sector to grow to $28.7bn by 2011
The Australian entertainment and media sector is predicted to growth at a compounded annual growth rate (CAGR) of 5% to $28.7bn by 2011, with ad revenue expected to grow at a slower rate than consumer spending.
In PricewaterhouseCoopers’ annual Entertainment & Media report out today, Paul McNab, lead partner for technology, entertainment and media, said: “A revolution is underway in the entertainment and media industry and the barricades that are traditional media forms, have been breached.”
Between 2007 and 2011, it’s forecasted that advertising will grow from $10.7bn to $13.5bn, at 4.8% CAGR, with subscription TV and the internet enjoying double-digit growth.
“Mediums that can aggregate mass audiences will still remain a powerful force in this time of audience fragmentation and while there is much speculation about the rise of new media platforms, between now and 2011, television, radio and newspapers are forecast to retain the largest share of revenue with nearly 67 percent of the total,” said McNab.
“Interestingly, despite the noise around internet advertising, out-of-home, one of the oldest forms of advertising has made a resurgence... The investment out-of-home operators have made in new signage, new technologies and more sophisticated advertising solutions is driving growth in the sector,” concluded McNab.
