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COLOGNE, GERMANY The worldwide media industry will grow an average of 6.6 percent annually to reach $2.2 trillion by 2012, according to a new five-year outlook published Wednesday by PricewaterhouseCoopers.
Growth in the roaring economies of Brazil, Russia, India and China — the so-called BRIC nations — will outpace the more mature markets of the U.S. and Western Europe, with PwC forecasting 13.5 percent average annual growth in BRIC compared with just 4.8 percent annual growth in the U.S. media industry and about 5.5 percent in Western Europe.
By 2012, the report predicts that the media business in BRIC will total about $250 billion, compared with $760 billion in the U.S., about $633 billion in Western Europe and $165 billion in Japan.
The report predicts that the U.S. film industry will bounce back from the sluggish growth of the past two years as new digital 3-D projectors drive theatrical demand and the end of the HD-DVD format wars boosts the home entertainment business. PwC is forecasting 5.3 percent annual growth in the U.S. film business to $111 billion by 2012.
The Internet and wired media services will continue to be the fastest-growing sectors, but the traditional business of film distribution, commercial and pay television, home entertainment and print advertising will account for $760 billion-plus in revenue in 2012, compared with $235 billion for digital services including Internet advertising, VOD and e-books, the report said.
READ NOREEN O’LEARY’S IN-DEPTH REPORT, “THE RISE OF BRIC”
