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.
Screen Australia CEO Ruth Harley has made the case for Australia to move eventually to a new, flexible film distribution model, similar to the US and the UK.
Almost one-third of Australians will have switched to an IPTV subscription service by 2016, according to PwC
After being stuck at around 30% since 2008, pay-TV penetration of Australian households is forecast to reach 35% by 2017- but most of that growth will come from IPTV services, not Foxtel.
The overall Australian entertainment and media market is projected to grow steadily over the next five years, driven primarily by the online and subscription TV sectors.
Box-office revenues are likely to surpass physical home entertainment sales next year but the overall Australian filmed entertainment market can expect minimal growth in the next five 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.
Pay-TV penetration has been stuck below 30% of Australian homes for years- but PwC predicts a massive upswing in subscriptions.