Crisis? What crisis?
Taking a slightly longer view, PricewaterhouseCoopers’ Global Entertainment & Media Outlook 2010 – 2014 projects UK entertainment and media revenue will rise in 2010, rise further still in 2012/13 and will hit $87.7 billion by 2014.
That’s a 20 percent rise over five years.
Income dropped 3.8 percent to $73.2 billion as the advertising downturn exacerbated structural change – but PwC says things are looking up, “powered in part by widespread internet access, an advertising recovery, and the explosion of mobile”…
— Advertising: Ad revenues fell 11.5 percent in 2009 but will grow 1.5 percent in 2010, 2.4 percent in 2011 and 3.8 percent by 2014. Internet ads will outstrip that, growing 10.5 percent to $9.3 billion – more than TV, which is projected to rise from 2009’s $4.9 billion to $6 billion in 2014 on HD and connected-TV take-up.
— Mobile: UK mobile ad spend is forecast to grow 36.5 percent from 2009’s $119 million to $524 million in 2010, before mobile finally “comes of age as a consumption platform by the end of 2011”.
PwC’s entertainment and media head Phil Stokes…