Today PricewaterhouseCoopers (PwC) releases their Global Entertainment and Media forecast for 2008-2012.
The PwC Global Entertainment and Media Outlook forecasts revenue rising by an average of 6.6 percent a year to $2.2 trillion by 2012, boosted by advertising-supported digital and mobile media and an explosion in the adoption of broadband.
According to the PricewaterhouseCoopers (PwC) Global Entertainment And Media report, advertising linked to online videos and on portable media devices will account for 24 percent of growth in the sector and is projected to grow fastest at a compound annual growth rate of 19.5 percent to 2012.
PwC also predicts total entertainment and media revenue growth is seen outpacing global gross domestic product, which will increase 5.7 percent.
The PwC Global Entertainment And Media report predicts that despite the acceleration of social media and digital marketing, revenue from traditional media venues such as television will still dominate global market share with digital and mobile revenue accounting for just 11 percent of total spending, or $234 billion, in the next five years.
The PwC Global Entertainment And Media report for 2008-2012 surveys 15 major industry segments in 59 countries including:
- Internet access spending
- Internet advertising
- TV subscriptions and license fees
- Television advertising
- Recorded music
- Filmed entertainment
- Video games
- Consumer magazine publishing
- Newspaper publishing
- Radio and out-of-home advertising
- Theme parks and amusement parks
- Casino and other regulated gaming
- Consumer and educational book publishing
- Business-to-business publishing
- Sports
You can purchase the PricewaterhouseCoopers Global Entertainment and Media report here.
What does this mean for your marketing plans? Make sure that you connect to your market through an integrated marketing plan encompassing both traditional digital media such as TV AND social media.
Use these statistics of the growth of online video and media to influence your board that you can not afford to wait to explore social media strategies and consider reallocating your marketing budget which is no-doubt under pressure to these cost effective platforms.
And remember that social media as it’s online allows you to track and evaluate your social media campaigns – so measuring markting effectiveness is often easier than measuring the effectiveness of traditional ‘above the line’ advertising and marketing strategies.
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