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PWC upbeat about entertainment sector (though less so music)
By CMU Editorial | Published on Wednesday 15 June 2011
Good news, people. The outlook for the entertainment and media industries is looking better than it did this time last year, thanks to a rebound in the advertising market and continued technological advancements, especially the growth of the tablet computer and the monetisation opportunities such platforms offer to content owners. Thanks, Steve.
This is all according to PricewaterhouseCoopers, whose latest ‘Global Entertainment & Media Outlook’ report is more upbeat than in recent years, reckoning the industry will grow at a compound annual rate of 5.7% over the next five years, though the US and China will enjoy most of that. Though even in Europe things are going to get better. Good times.
Oh, except, what’s this? The only two segments of the entertainment sector PWC are less optimistic about are newspapers and – you guessed it – music. Doh. Both these sectors will struggle more than TV, film, gaming, advertising and web services, the bean counters reckon, though even they – yes, even music – could be starting to see some growth in five years time. Good (future) times.
Of course, PWC were one of the big accountancy groups that totally failed to see the recession, credit crunch and banking crisis coming a few years back, when it was totally bleedin obvious something was going to crack, but hey, I’m sure they’re right about all this stuff.
