The U.S. entertainment and media industry last year grew 3.1%, its first gain since 2007, as marketers returned to advertising online and on television, according to the accounting firm PricewaterhouseCoopers LLP. The U.S. media sector, which includes movie studios, TV networks, radio stations, newspapers and the Internet, will grow 3.5 percent this year, New York-based PWC forecast today in its annual industry overview.
Online advertising and Web access, pay-TV subscriptions, billboards and movies will lead the industry to mid-single-digit percentage gains between 2012 to 2015. Spending on recorded music and newspapers will be lower in 2015 than in 2010. Digital products will account for 59 percent of worldwide growth in the media industry during the next five years, while they contribute about 25 percent now, PWC said. U.S. advertising spending climbed 5.4 percent in 2010 after declining 14 percent in 2009, PWC said. Online advertising will average 12 percent growth compounded annually.
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