New formats to prompt boost in media revenues
MOBILE internet usage will overtake broadband as early as 2017, a new report released today has found.
The web usage figures relate to internet via a cellular mobile network, such as 3G or 4G. Such usage will increase 7.1 per cent a year, to bring in revenues of £7bn by 2019, according to the survey.
Professional services firm PwC compiled the data, as part of its new Global Entertainment & Media Outlook 2015-2019 report.
The survey also detailed that e-book sales will overtake print and audio books by 2018. E-books generated 22 per cent of total books revenue in 2013, and this will rise to 47% by 2019. Revenue from consumer e-books that are purchased by consumers for personal use will reach £1.2bn by 2019 from £466m last year.
The news is also positive for the film industry. After a drop-off in box office revenue last year, which fell to £1.16bn, this year is looking to be a hit, with box office revenues expected to reach £1.24bn.
Similarly, music sale income decreased during 2014, but is expected to rise in subsequent years, with revenues expected to reach £2.69bn by 2019. The boost will mostly come from an increase in music streaming.
Overall, PwC estimate that the UK entertainment and media market will be worth £66.6bn by 2019.
Phil Stokes, UK entertainment and media leader at PwC, commented: “Increasingly, it’s clear that consumers see no significant divide between digital and traditional media – what they want is more flexibility, freedom and convenience in when, where and how they interact with their preferred content.”