The annual PriceWaterhouseCoopers report on media and entertainment is an attempt at definitive guidance on trends in the next five years on spending. Its release today points to some significant developments:
1. Spending will rise at a relatively slow rate of 2.7 per cent through 2013, with most of the growth in 2012 and 2013, to reach $1.6 trillion worldwide.
2. Mobile and video game advertising will flourish, while conventional advertising will be flat.
3. The fragmented media model will lead to more tailored advertising.
"What we are sure about is that this recession will last longer than previous ones due to a steeper downturn and that the impact on consumer spending will be much steeper than in the past."