How Are We Doing? And How Will We Do?
PricewaterhouseCoopers' 2008 Global Media Forecast
By Maxwell Lakin Published: July 25, 2008
NEW YORK (AdAge.com) -- Consulting and analysis firm PricewaterhouseCoopers released its five-year global entertainment and media forecast this week. PwC Entertainment & Media Practice Chairman James O'Shaughnessy in New York and Managing Partner Marcel Fenez in Hong Kong note that this latest version of the report, which is now in its ninth year, marks emerging-market growth, in addition to unprecedented established-market gains.
MediaWorks takes a look at the forecasts for several of the media market's largest sectors, including internet-access spending and internet advertising, TV advertising and subscriptions, newspaper and magazine publishing, radio and out-of-home advertising, and recorded music, film and video games.
Internet advertising and spending posted notable gains through the past 18 months, and is projected to steadily increase over the next five years. In general, and with the exception of the lapsing recorded-music sector and a struggling newspaper market, the media industry has done well for itself of late. PwC estimates that total global media and entertainment spending rose 6.4% in 2007, with internet-access spending in particular posting a 16.7% increase.
Read more about these predictions at Advertising Age.
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