There are positive signs for filmed entertainment and free-to-air television in PwC’s annual Media and Entertainment Outlook, which shows both sectors experienced a resurgence in 2021.
The tectonic shifts that have characterised the pandemic's impact on the screen sector are laid bare in PwC’s annual media outlook, which forecasts an ongoing migration towards digital consumption in the coming years.
The screen industry can expect slow growth in the filmed entertainment market over the next five years, and SVOD revenue will continue to skyrocket amid a grim outlook for free-to-air television, PwC’s annual media forecast has found.
Despite the surge in sign-ups for streaming services, the SVOD industry faces two key challenges: low revenues per-subscriber, and the prospect that many consumers will drop out when the free trials end.
Australia’s free-to-air broadcasters are facing stagnant advertising revenues over the next five years despite the growth of their catch-up platforms and viewing on mobile devices.
The Australian screen industry can expect minimal growth in filmed entertainment over the next five years as the boom in on-demand services is offset by the continued decline of DVD sales and rentals.
Worldwide entertainment and media revenues will rise at a compound annual growth rate (CAGR) of 5.1% over the coming five years, from US$1.74trn in 2014 to US$2.23trn in 2019, according to PwC’s Global entertainment and media outlook 2015–2019.
Foxtel and the other established pay-TV operators face years of minimal growth in subscribers and revenues, due primarily to competition from online services.