Hollywood will find little encouragement today in the data from the research firm’s latest annual “Global Entertainment and Media Outlook” report. PwC projects that U.S. consumers and advertisers will spend $31B on filmed entertainment in 2013, up just 1% from last year. That contrasts with 4.6% growth, to $376.4B, in the entire domestic media and entertainment economy. PwC’s soothsayers see the annual growth in filmed entertainment spending accelerating over the five-year period through 2017; it will average +3.4% a year to $36.4B. But with the broader business growing at an average of 4.8% a year, by 2017 filmed entertainment will account for just 5.8% of total U.S. media spending, down from 7.1% in 2009. PwC has even drearier news for pay TV, until recently one media’s hottest businesses: Outlays for “TV Subscriptions and License Fees” will average +2.2% a year to $83B in 2017. That’s a slower growth rate than for radio, expected to be +2.5% a year to $21.6B. TV ads will fare better, at +5.1% a year to $81.6B. But Internet ads are catching up fast, averaging +13.7% a year to $69.4B in 2017.Consumers also will be paying a lot more for Internet access, which will rise 11% a year to $153.3B. Media’s laggards, according to PwC, will be newspapers (-2.9% a year to $28.5B), consumer magazines (-1.3% a year to $23B), book publishing (+0.7% a year to $28.4B), and music (+1.2% a year to $16B). Entertainment and media “is undergoing a significant shift as digital disruption across every segment is accelerating,” says PwC’s Ken Sharkey. Global E&M spending is expected to grow an average of 5.6% a year to $2.2T in 2017.
U.S. Filmed Entertainment Spending Will Tread Water For Next Few Years: PwC
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