PWC: Net Will Power Global Media Growth

The internet and new technologies are set to power growth in the global entertainment and media industry, according to a new report from PricewaterhouseCoopers.

Entertainment and media industry spending will increase at a 6.3 percent growth rate of $1.7trillion in 2008, sparked by an impressive growth in the Asia/Pacific region and improved by economic conditions and online distribution.

Other forms of media not geared to younger people, such as print, will lose out as digital media continues to attract younger audiences attractive to advertisers.

Hollywood Reporter: Internet growth for the 2004-08 period will be fueled by compound growth of 17.3% in consumer spending on Web access and 12.7% growth in online advertising, PwC forecasts.

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