Global media gains will be built by BRIC
Industry worth $2.2 tril by 2012, PwC report saysCOLOGNE, Germany -- The worldwide media industry will grow an average of 6.6% 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 13.6% average annual growth in BRIC compared with just 4.8% annual growth in the U.S. media industry and 5.4% in Western Europe.
By 2012, the report predicts that the media business in BRIC will total about $250 billion, compared with $759 billion in the U.S., about $633 billion in Western Europe and $166 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 demand theatrical and the end of the HD-DVD format wars boosts the home entertainment business. PwC is forecasting 5.3% 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 $761 billion in revenue in 2012, compared with $234 billion for digital services including Internet advertising, VOD and e-books, the report said.