Accounting firm PricewaterhouseCoopers has estimated that the global entertainment and media industry will continue to boom over the next four years, so that the industry as a whole is worth $1.8 trillion by 2010. Their analysts say that the spread of broadband and wireless internet technology will help the entertainments sector grow both its sales revenues and profits.
On the music front, the report says that the recording industry can expect to see sales grow by 5.2% over the next five years, with downloads and ring-tones compensating for the inevitable decline in CD sales. The report also reckons that the problem of online piracy will decline during that time period as music and films become more easily and cheaply available online.
Geographically, the Asia Pacific region is set to see the widest and fastest growth in entertainment spending, with double digit increases expected in the revenues generating by the TV, internet and casino sectors there. The US will maintain its position as the world's largest entertainment market, although in Asia the accountants reckon China will overtake Japan in 2009.