Entertainment firms the ones to watch
According to the PricewaterhouseCoopers’ (PwC) report, Global Entertainment and Media Outlook: 2005-2009, the media and entertainment (M&E) industry will increase at a 7.3 percent compound annual growth rate to $1.8 trillion in 2009. The US remains the largest M&E market but not the fastest-growing one. It has been outpaced by Asia/Pacific where China is on track to overtake Japan as the region’s entertainment giant by 2008.
Among the key drivers triggering end-user spending, the report enumerates improved economic conditions and an advertising upswing, combined with expanding online distribution of music, films, books and video games. The new spending will further be spurred by the popularization of broadband internet and wireless technologies.
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