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Media, entertainment industry set to grow annual 6% over five years

PricewaterhouseCoopers (PwC) projects Hungary's media and entertainment industry will grow 1.3% in 2010 after contracting about 3% in 2009, and the consultancy sees the business expanding an average annual 6% over five years, business dailies reported.

PwC projects Hungary's media and entertainment industry will grow from $ 3.2 billion in 2009 to $4.3 billion in 2014. It sees the share of revenue generated by internet media rising from 26% in 2009 to 37% in 2014, while the share of revenue from television (which includes advertising revenue as well as subscription fees) narrowing from 28% to 27%.

Internet revenue will account for 69% of media and entertainment industry growth in Hungary in 2009-2014, according to PwC, well over the 43% global estimate, as internet advertising revenue climbs and annual 14.7%. (MTI – Econews)