PricewaterhouseCoopers has forecast a 3.3 % drop in the revenue for the media
and entertainment industry, the Irish independent has reported.
The PwC report attributes the downturn to a 14 % drop in advertising revenue,
with the industry experiencing only `modest’ growth to 2011. By 2013 the report
estimates the industry will have experienced a total 2.7% increase, while in the
same period advertising revenue declines will 1.3 %.
The report is in its tenth year and finds that digital media will dictate the
direction of media growth.
`There will be nowhere to hide from the implications of digital migration. As
economic pressure increases, so does the pace of change: aside from short-term
challenges posed by the economic downturn, the real challenge lies in how to
take advantage of the digital reality,’ the report states.
Read the full story:
to record 3.3pc revenue fall
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