According to a story by Mike Snider at usatoday.com, spending is expected to rise 3.5% in 2011, the report forecasts, with continued mid-single-digit increases through 2015. The key drivers: growth in Internet advertising and increased spending on Internet access, TV subscriptions and filmed entertainment.
Global entertainment and media spending rose 4.6% to $1.4 trillion and is expected to increase to nearly $1.9 trillion in 2015.
Spurring growth, says Pricewaterhouse partner Stefanie Kane, is "an insatiable demand for content coming out of the consumers, combined with the ever-accelerating pace of the digital revolution. It's truly creating new opportunities and new business models for the entertainment and media industry."
Overall advertising is expected to rise from $170 billion to $208 billion in 2015. Meanwhile, U.S. consumers spent 0.4% more on entertainment in 2010, after a 2.8% decline in 2009. Spending on satellite radio, TV subscriptions, books and filmed entertainment offset declines in recorded music, newspapers, consumer magazines and video games. Spending is expected to rise through 2015 to $284 billion.
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