Fast growth seen for Asia-Pacific entertainment, media markets

Business News

Jul 7, 2008, 1:46 GMT

Singapore - The entertainment and media (E&M) market in the Asia-Pacific region is forecast to grow quickly over the next five years particularly in China and India, a published study said Monday. The PricewaterhouseCooper (PwC) Global Entertainment and Media Outlook for 2008-12 underscored the direction. The Asia-Pacific will continue to be one of the fastest growing regions. The compound annual growth rate 'is set to outpace expansion of the global E&M market at 8.8 per cent, increasing from 333 billion US dollars in 2007 to 508 billion US dollars in 2012,' PwC's Asia- Pacific technology industry leader Greg Unsworth was quoted as saying. Excluding Japan, which will experience relatively slower growth, the Asia-pacific will grow at a 12 per cent compound annual rate. 'Brazil, Russia, India and China will remain important sources for growth ... driven by rising disposable incomes and an increasingly urbanized middle class,' Unsworth said. E&M spending currently accounts for about 6 per cent of consumer spending in developed countries such as the United States, Britain and South Korea, but for only 3 per cent or less in fast-growing, emerging markets. Broadband penetration is likely to expand rapidly worldwide, with global Internet access spending set to rise at a 12.1 per cent compound annual growth to 341 billion US dollars in 2012, PwC said. Access spending in the Asia-Pacific is led by Japan, China and South Korea. Wireless upgrades will propel mobile Internet access, which will increase from 27.3 billion US dollars in 2007 to 48.8 billion US dollars in 2012, a 12.3-per-cent compound annual increase.

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Fast growth seen for Asia-Pacific entertainment, media markets

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