Entertainment and Media Industry Growing Steadily

PricewaterhouseCoopers has released an outlook for the global entertainment and media industry predicting it will grow at 6.6% annually, to $1.8 trillion by 2010. Mobile is a part of this, of course, but the outlook focuses on the industry as a whole rather than the mobile channel in particular. Of relevance to MocoNews:
“Global spending via online and wireless channels reached $19 billion in 2005 and will increase to $67 billion by 2010, the Outlook says. Digital technologies consist of five categories: online rental subscriptions and digital streaming in filmed entertainment, licensed digital downloads and mobile music in recorded music, online and wireless video games, electronic books, and online casino gaming.”
A major driver of the growth is seen to be the expansion of household broadband access and high-speed wireless networks (and the associated handsets). “The number of people with a wireless telephone subscription is also growing rapidly, with a total of 1.8 billion globally in 2005. That figure will rise to 2.8 billion by 2010, adding one billion potential customers to mobile content during the next five years.” Although it should be noted that the GSM Association is predicting the figure will hit 3 billion sometime before that.
Music gets a special mention: “Growth in digital distribution and mobile music will drive spending in each market, offsetting further declines in spending on physical formats. Rising broadband subscribership will continue to fuel digital distribution, while an expanding wireless universe and upgrades to next generation wireless networks will foster mobile music growth. Globally, recorded music spending will rise at a 5.2 percent CAGR to $47.9 billion in 2010. Spending in the U.S. will rise to $14.7 billion in 2010, at a 3.7 percent CAGR.”