Digital to Drive Entertainment, Media Growth

The latest edition of PwC's Global Entertainment and Media Outlook predicts that digital entertainment and media (E&M) spend will account for more than 40 percent of all E&M spend in mature markets by 2017.

The Global Entertainment and Media Outlook 2013-2017 predicts $2.2 trillion in global E&M spend in 2017, up from $1.6 trillion in 2012, reflecting a compound annual growth rate (CAGR) of 5.6 percent. Driven by smart-device ownership, digital E&M spending is expected to account for 44 percent of all spending in mature markets by 2017. This is up from 34 percent in 2012. In the U.S., digital will account for 43 percent of E&M spend, which is expected to hit $632 billion in 2017, a 4.8-percent CAGR. The U.S. remains the world's largest E&M market.

“The E&M industry is undergoing a significant shift as digital disruption across every segment is accelerating and as digital media remains the clear driving force behind E&M revenues over the next five years,” said Ken Sharkey, PwC’s U.S. entertainment, media & communications practice leader. “To drive growth and compete effectively in the future, E&M companies must invest in constant innovation that encompasses its products and services, operating and business models and, most importantly, focus on customer experience, understanding and engagement.” Read more http://www.worldscreen.com/articles/display/2013-06-05-pwc-global-entertainment-media-outlook-2013-2017