Tuesday, June 21, 2016

Canadian entertainment and media sector in for a rough five years: Study

The Canadian entertainment and media sector can expect slow growth and will lag behind the global economy for the next five years, says a report Monday by PricewaterhouseCoopers.
According to the firm’s global entertainment and media outlook, business in the sector will increase at a compound annual growth rate of 3.5 per cent, to US$50 billion in 2020 from US$43.8 billion in 2015. That’s a considerable decrease from last year’s five per cent growth.
PwC says it expects steady growth in Internet advertising, mobile technology, and online video streaming, while it says the recent downturn in newspaper publishing will accelerate. The report predicts that Internet advertising revenues, for example, will rise at a CAGR of 9.8 per cent to 2020, reaching US$6.17 billion.

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