Online ads to boost global media, entertainment industry

Posted by Maddie Hanna on June 21, 2006 at 3:56 PM

Global media and entertainment will become a $1.83 trillion industry by 2010, according to the latest annual study from PricewaterhouseCoopers. That predicted gain — up from an estimated $1.33 trillion last year — is a result of a booming online advertising sector.

PwC predicts Internet advertising and access spending will drive the global industry with a 12.9 percent growth rate.

Wayne Jackson, global leader of PwC’s entertainment and media practice, to the Hollywood Reporter: “Virtually every segment of the entertainment and media industry is shifting from physical distribution to digital distribution of content. While physical distribution of content is declining, that decline will be offset somewhat by digital distribution, which is driving and creating new growth opportunities.”

It reinforces what analysts have been saying about newspapers: move the advertising online, or lose it.

Source: The Hollywood Reporter (through PaidContent.org)

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