Growth through diversity: talent, geography and business models
Our forecasts for 2016-2020 see the total market reach $47.4 billion, consumer spending reach $28.7 billion and advertising reach $18.7 billion by 2020. However a lack of diversity in Australia’s media and entertainment workforce in terms of ethnicity, gender, age and thinking is dragging on the industry’s growth.
For the first time, the Australian Entertainment and Media Outlook also includes geospatial economic modelling to identify who epitomises an entertainment and media industry employee in Australia, finding 82.7 percent of the national entertainment and media workforce are monolingual, speaking only English at home, and the average age is 27.
The Outlook includes key insights and commentary, and 5 year forecasts and historical revenues for advertising and consumer spend across 12 key sectors in entertainment and media including television, interactive games, internet, radio, filmed entertainment, publishing and more.
PwC’s 15th annual Australian Entertainment & Media Outlook shows that growth in total consumer and advertising spending in the sector grew by 6.4 percent in 2015, compared to 6.8 percent in 2014. The sector grew by 6.0 percent globally and 7.4 percent in Asia Pacific.
Beyond digital: Empowered consumers demand choice and convenience that transcend platforms.
Consumer spending strengthened in large part due to good performances by the interactive games sector, internet access – especially mobile data – and subscription television, including IPTV.
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