Australian entertainment & media spending forecast to grow 5.3%
Sydney- Consumer spending on entertainment and media content in Australia is forecast to grow by 5.3% compounded annual growth rate (CAGR), from A$11.8 billion (US$10 billion) in 2006 to A$15.2 billion (US$13 billion) in 2011, but advertising will see slower growth. That’s according to PricewaterhouseCoopers’ Australian Entertainment & Media Outlook: 2007–2011, which predicts the Australian entertainment and media sector will grow at 5% CAGR from 2006 to be worth $24.5 billion by 2011. Subscription television is tipped to grow by 11.1% CAGR, the Internet by 8.1% and interactive games by 6.9%, despite the impact of interest rate rises and increasing petrol prices. Those three segments combined will comprise nearly 47% of the total consumer spend by 2011. Interestingly, there was a decline in spending on interactive games last year as consumers awaited the arrival of next generation consoles and games.
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