Online ads and games to drive entertainment boom
Tuesday, June 24, 2008/
Fast growth in the video game and online advertising sectors are set to drive the global entertainment and media industry to 6.6% annual growth over the next five years, an authoritative industry report predicts.
The PricewaterhouseCoopers Global Entertainment and Media Outlook forecasts the industry will achieve global revenue of $US2.2 trillion by 2012, with the US market taking the biggest share on $US759 billion.
Online advertising is set to be the fastest growing component, PwC predicts, with compound annual growth of 19.5% to 2012 helping it account for 24% of the total growth in the sector.
The video game industry is also predicted to do well, with compound annual growth of 10.3% to revenue of $US68 billon by 2012.
Online games will lead the sector with 17% annual growth to earnings of $US14.4 billion, ahead of wireless games and even in-game advertising, which is set to earn $US2.2 billion by 2012.
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