Global video-on-demand spending will exceed pay-per-view this year and reach US$4.7 billion (3.3 billion) by 2015, representing a 9.8% compound annual growth rate, up from US$2.9 billion in 2010, according to accountancy giant PwCÂs Global Entertainment and Media Outlook: 2011-2015.
Global entertainment and media spending will rise to US$1.9 trillion by 2015, representing a compound annual rate of 5.7%, according to the report. According to PwC, entertainment and media spending has already bounced back from the economic crisis of 2009, with growth of 4.6% last year. Digital media currently accounts for 26% of all spending but will grow to 33.9% by 2015, according to the company.
Advertising recorded the largest year-on-year swing in 2010, achieving 5.8% growth following an 11% slump in 2009. Global advertising will increase by 5.5% a year to reach US$578 billion in 2015, according to PwC.
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