Asia Pacific Is Fastest-Growing Market
Asia Pacific Is Fastest-Growing Market
The pace of spending in Latin America will also outstrip the US, Canada and Europe. Latin American spending on film and TV will increase by 5.2% compound annually over the next 5 years, from $2.4 billion in 2009 to $3.1 billion in 2014, says the accounting giant.
Europe, Middle East and Africa will, however, be the third fastest-growing territory. Filmed entertainment spending in Emea countries will increase by 4.2% annually from $24.3 billion to $29.8 billion by 2014. Western Europe will account for 90% of that spending. And the UK remains Western Europe’s largest market, being worth $7.2 billion by 2014 – a 5% growth rate.
North America will grow by 3.7% compounded annually to $45.3 billion in 2014 ($37.8 billion in 2009).
Worldwide global filmed entertainment spending will rise by 4.8% compounded annually, reaching $107.5 billion in 2014.
PwC produces its report each year for clients to buy. The full report covers advertising, internet, TV and music as well as filmed entertainment.
As for individual entertainment sectors, PwC says downloading movies to your TV or PC will be the fastest-growing. Digital downloads – including streaming and download-to-own -- will grow by 37.3% between now and 2014, becoming a $2.1 billion global market. The North America digital download market will triple from $364 million in 2009 to $1.1 billion by 2014 – a 24.8% increase. And Emea’s digital movie market will rocket by nearly 59% over the same 5 years to be worth $611 million.
Theatrical box office will continue its rebirth. Global box office spending will increase from $30.7 billion in 2009 to $41.7 billion in 2014, a 6.3% compound annual increase. Box office in the US and Canada, driven by rising ticket prices and increased admissions, will average 5.8% annually to hit $15.3 billion. Emea will be slightly behind, growing by 5.2% to $12.9 billion over the same 5 years.
Worldwide home video spending will be a flattish 3.9%, lifting to $65.9 billion by 2014. PwC maintains Blu-ray will help reinvigorate the packaged media market. Global physical sales of DVDs and Blu-ray will increase by 3.1% over 5 years to reach $37.9 billion, say the report authors. This contradicts a recent Screen Digest report, which said non-US spending on DVDs and Blu-ray will shrink on average by 3.5% a year to 2014. PwC admits North America physical sell-through will drop in 2010, but it will then rebound again to hit $15.6 billion in 2014 – an overall 1.6% compound annual increase.
PwC says rental subscriptions will also grow by 11.1%, becoming a $6 billion worldwide market. Even in-store rental spending will increase by 2% between now and 2014 says PwC, reaching $19.8 billion. Not judging by the empty video stores around my neighbourhood it won’t. -article deadline.com
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