“Internet ads follow attention and commerce,” the report stated. When it comes to global advertising revenue, dollars are following eyeballs, with PwC forecasting a 6.5 percent compound annual growth rate from 2020 through 2025, driven by digital spending gains. “But in 2020, consumers’ embrace of all things digital helped offset sharp revenue losses across the broader global E&M sector.” “Historically, rising digitization was a challenge, as analog dollars were frequently replaced by digital dimes,” PwC noted.
AFTERMATH ENTERTAINMENT WORTH DRIVER
The most notable and global driver of industry change is the rise of digital consumption. “A global recession, the first since 2009 and only the second since 1944, is being followed by a rapid but highly asymmetrical snapback,” PwC noted about the worldwide fallout from the coronavirus pandemic. And many shifts in consumer mindset and behavior that started or accelerated in 2020 will take years to play out. Excluding access services, the sector will for the 2020-2025 period hit a compound annual growth rate of more than 4 percent to reach $624 billion.īut the global cinema industry, including box office revenue, is facing a slow return to pre-pandemic levels that will take several years, according to the forecast. In the U.S., 2020 media and entertainment industry revenue fell 4.5 percent from $717 billion to $685 billion, but it will consistently grow to reach $855 billion in 2025 after getting to nearly $724 billion in 2021, PwC projects. So, being in the top 1, 2, 3 kind of sources of entertainment and media consumption that really are adding value.” “Consumers are going to take a fresh look at where their money is going and in some cases make different decisions. “As consumer attention is going to get more and more fragmented and folks go back outside, that $5.99 that they may have been willing to spend or $7.99 on the fourth or fifth streaming service or that cable subscription may get reviewed,” Bangah says. But with economies opening up again after the pandemic and competition for time and money, some consumers may become more selective about their entertainment services, including some streaming products, PwC principal CJ Bangah tells The Hollywood Reporter. That includes spending on subscription (more than $81 billion) and transactional (nearly $13 billion) video on demand. The firm forecasts streaming, or OTT, video, to reach $94 billion by the end of 2025, up 60 percent. Toronto Police Investigating "Suspicious" Death of Film Director Reeyaz Habib
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