Consumer spending on entertainment and media content is moving away from physical purchases, and that shift will only intensify over the next 5 years, according to the latest “Global entertainment and media (E&M) outlook,” from PricewaterhouseCoopers (PwC). While physical purchases represented 88% of total spending on E&M content in 2008, that number has dropped to 73% this year, and will fall to 53% by 2017. That mirrors an overall spending transition in the global E&M market.
Per the forecast, digital revenues (including consumer spending on content, digital ad spending, and spending on internet access) will constitute 47% of total entertainment and media market revenues in 2017, up from 35% last year. Overall, the market is projected to grow at a compound annual rate (CAGR) of 5.7% over the next 5 years to reach US $2.2 trillion, with digital revenues driving that growth (CAGR of 13.1%). Read the rest at MarketingCharts.