PwC has just released its annual Global Entertainment & Media Outlook, which gives forecasts for 2020-2024 across a number of segments. The report looks at both consumer spending and advertiser spending (details on exactly what constitutes each category are available here).
Here are five facts and five charts about the next five years, according to PwC.
Global entertainment and media revenue is set to fall nearly 6%, or more than US$120 billion in 2020. Following 4.7% year-on-year growth in 2019, this drop will be the sharpest ever recorded.
Advertising will be the slowest segment to recover from 2020's dip, and is not expected to exceed 2019 figures until 2022.
The three fastest-growing markets in internet advertising over the forecast period are all in APAC: India, Indonesia and Vietnam.
Terrestrial TV advertising is projected to contract globally from US$110.0 billion in 2019 to US$106.8 billion in 2024.
OOH remains largely immune to changing consumer behaviour; 50 of 53 global markets are expected to register growth over the forecast period, including every market outside the Middle East North Africa (MENA) region.