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.
Pay-TV penetration has been stuck below 30% of Australian homes for years- but PwC predicts a massive upswing in subscriptions.
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.
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.
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 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.
Australian entertainment and media spending grew by 4.5% in 2013, below the global average, and the sector’s growth rate is projected to be even lower in the next five years.
Almost one-third of Australians will have switched to an IPTV subscription service by 2016, according to PwC