Asia media biz to lead growth, PwC predicts

July 07, 2008 PwC's "Global Entertainment and Media Outlook for 2008-12" -- released Monday in Asia -- said the Asia-Pacific region's compound annual growth rate of 8.8% will outpace expansion of the global entertainment and media market, rising from $333 billion in 2007 to $508 billion by 2012. PwC said Asia's industry growth will be led by double-digit increases in Internet advertising, TV subscriptions and license fees, casino and other regulated gaming, video games and Internet access. Entertainment and media spending currently accounts for about 6% of consumer spending in such developed countries as the U.S., Britain and South Korea but for 3% or less in emerging markets, PwC said.

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