UK’s entertainment and media market to reach £64bn by 2018

Oliver Smith
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VIDEO games will account for over six per cent of the UK’s overall entertainment and media market by 2018, according to PwC’s Global Entertainment and Media Outlook.

Britain’s entertainment and media market will itself will grow 9.2 per cent to £64bn, buoyed by video games, internet advertising and the booming film and television sales in the UK.

“Mobile internet advertising revenue is expected to outstrip consumer magazine advertising revenue very rapidly, reaching £2.2bn in 2018, compared with £750m for magazines. Social networks and messaging services, which themselves are intrinsically mobile, will contribute much of this growth in the future,” said PwC’s entertainment and media lead partner Phil Stokes.

The video games market, which will be worth £4.1bn by 2018, could even start to rival that of the UK’S film market, which will grow to £4.8bn.