In a report issued by accounting firm PricewaterhouseCoopers, it projected that spending for global entertainment will reach close to $1.8 trillion by 2010. They added that the biggest catalyst of the surge is the growing adoption of broadband and wireless technology.
Taking into account online and wireless channels in and of themselves, it is said that spending will triple to $67 billion by 2010, up from $19 billion in 2005.
With the Asia Pacific region the place where the growth will be the fastest, China is expected to pass Japan as the largest consumer of media and entertainment in Asia by 2009.
The report called "Global Entertainment and Media Outlook: 2006-2010," confirms that the U.S. will retain its position as the largest market for entertainment consumption, although it is slowing down in its growth. Total U.S. spending on entertainment should reach $726 billion by 2010. Video games and the Internet are the primary U.S. growth areas.The report also cited that Internet advertising will be the fastest growing of all advertising channels, as it is now accounting for 10 percent of all global advertising revenue, in contrast to 3 percent in 2002.
They added that growth in advertising should continue until 2008 and will probably begin to pull back in 2009 and 2010 as economic growth in developing countries slows down
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