We are pleased to present PricewaterhouseCoopers’ Entertainment and Media Outlook: Global Overview. The objective of the Overview is to identify key trends and developments affecting the industry and relate them to spending forecasts across 14 entertainment and media segments for the 2006–2010 period. The Overview is only a summary of the full range of data and information provided in the Outlook as a whole. The Outlook covers a wide array of issues in depth and provides detailed industry and country data for the various components of each media segment.

The entertainment and media industry is now well into a recovery pattern, with increases during the past two years exceeding growth during 2001–03, reflecting improved economic conditions in most countries. Digital distribution technologies are becoming established and are changing the way consumers acquire entertainment and media content.

It is now common for wireless telephones to serve as media centers when people are away from home, while the Internet is becoming a media center within the home. The Internet will be the fastest-growing segment during the next five years, and revenues generated from distribution over the Internet will contribute to growth in TV distribution, recorded music, video games, business information, book publishing, and casino and other regulated gaming. Revenue generated from distribution to mobile devices will help drive video games, recorded music, TV networks, and sports.

The rapid take-up in broadband Internet households — households with high-speed Internet connections that facilitate the downloading of high-volume content such as music and movies — fosters growth in digital distribution. Continued expansion in the broadband household universe will be a major driver of growth. Similarly, increases in the number of wireless telephone subscribers and the rollout of next-generation handsets and high-speed wireless networks will stimulate the mobile markets.

While piracy continues to cut into legitimate sales, piracy growth will slow during the next five years as more-aggressive enforcement of existing laws and more-aggressive actions by industry trade associations in suing unauthorized users make piracy more expensive. The availability of legal digital alternatives and rising incomes serve to increase demand for
spending through authorized channels. Although piracy still cannibalizes sales in many markets, its incremental impact on legitimate sales will lessen.

We also expect changing demographics to have a positive impact on the market. Growth in the number of young people in Asia Pacific and Latin America will contribute to advertising growth in those regions, while large increases in the number of people in their prime earning years in all regions will contribute to end-user spending growth. As the number of people in their prime earning years increases, aggregate savings will grow. Higher savings will lead to increased investment, including increased investment in entertainment and media. Asia Pacific, Latin America, and Central and Eastern Europe will be principal beneficiaries of entertainment and media investment.

By the end of the forecast period, the current recovery will be in its eighth year, a time during previous economic cycles when economic growth tends to slow. We expect the entertainment and media industry to moderate during 2009–10, but growth will still remain stronger than it was during the early part of the decade.

The Overview takes into account these and other developments, and it addresses the underlying factors affecting forecast spending. It begins on page 11 with the Global Entertainment and Media Market by Region chart, showing the forecast for spending and growth through 2010 across each of the five regions covered — United States, EMEA (Europe, Middle East, Africa), Asia Pacific, Latin America, and Canada—in the following 14 entertainment and media segments:

• Filmed Entertainment
• Television Networks: Broadcast and Cable
• Television Distribution
• Recorded Music
• Radio and Out-of-Home Advertising
• Internet Advertising and Access Spending
• Video Games
• Business Information
• Magazine Publishing
• Newspaper Publishing
• Book Publishing
• Theme Parks and Amusement Parks
• Casino and Other Regulated Gaming
• Sports

The chart is followed by Global Dynamics — a section that examines underlying developments that have an impact on the global entertainment and media market (pages 12 to 13). The next section, Principal Industry Drivers, focuses on the key trends fueling — or thwarting, as the case may be — entertainment and media growth.

The Overview is then divided into three main sections of forecasts:

• Global advertising and consumer/end-user spending by industry segment and within each region, pages 19 to 21

• Analysis and forecasts for global spending by individual industry segment across all regions, pages 22 to 30

• Analysis and forecasts for spending by region across all industry segments, pages 31 to 56

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