|
Entertainment industry, media poised to skyrocket
With expected expansion, Viet Nam can have one of the world’s fastest growing entertainment and media markets within five years, according to a global business advisory firm.
In its 10th report on the global outlook for entertainment and media, PricewaterhouseCoopers said the value of Viet Nam’s entertainment and media market roughly tripled from 2004-09 and was expected to exceed US$2.3 billion in 2013.
The firm said the greatest contributor to a projected overall compound annual growth rate of 16.7 per cent would be the internet access market, which was expected to grow about 21 per cent during the period.
Advertising could expand 10.9 per cent, and consumer spending (excluding internet access) by 16.1 per cent, it said.
Economic expansion would help drive the large increases expected in most high-growth countries, including Viet Nam, it said. Infrastructure improvements, particularly in the areas of broadband and multichannel television, as well as mobile telephones, would be other significant drivers.
With low penetration in many categories of entertainment and media, Viet Nam had substantial room for growth, the report said. In line with global trends, growth in internet access spending and television advertising and subscriptions was expected to lead the industry’s expansion.
The sector’s global market, including consumer and advertising spending, would grow by 2.7 per cent compounded annually in the forecast period to $1.6 trillion, the report said.
Latin America and Asia- Pacific, the fastest growing regions, were expected to increase at an annual compounded rate of 5.1 and 4.5 per cent respectively through to 2013, reaching $73 billion and $413 billion, respectively.
vietnamnews
|
