NEW YORK-Wireless and broadband Internet will account for a large portion of total spending growth in the global entertainment and media industry, according to PricewaterhouseCooper’s “Global Entertainment and Media Outlook: 2005-2009” report.
Total revenues from new spending streams such as wireless will increase from $11.4 billion in 2004 to nearly $73 billion worldwide by 2009, said the report.
“The entertainment and media industry continues to display an extraordinary ability to reinvent itself and create new revenue streams through innovative offerings that barely existed as recently as 2000,” said Wayne Jackson, global leader of PricewaterhouseCoopers’ Entertainment & Media Practice. “Online and wireless video games, online film rental subscriptions, licensed digital distribution of music, and the rapid adoption of ringtones and mobile music downloads are becoming critical components of the industry and driving significant revenues across all regions.”
In addition, the report found that online and wireless games are the fastest-growing components of the video game market.
