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 Australian filmed entertainment sector can expect virtually zero growth in the next five years, with incremental increases in box office takings, cinema advertising and transactional VOD offset by plummeting DVD and Blu-ray sales and rentals.
The bad news for commercial free-to-air broadcasters and Foxtel is that consumer spending on Netflix, Amazon Prime, Stan and other streaming services will continue to soar over the next five years.
The filmed entertainment sector faces five years of zero growth as a modest increase in BO grosses is offset by the continuing slump in DVD/Blu-ray sales and rentals.
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.