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Report: Global Entertainment and Media Outlook
PricewaterhouseCoopers Canada has released a study called the Global Entertainment and Media Outlook. According to the publication, Internet advertising spending in Canada will surpass spending in other channels by 2018, reflecting the general move of consumers to digital media. The study estimates that Internet advertising revenues will reach approximately $7.2 billion four years from now, a growth rate of 14 percent. According to the report, net revenues for broadcast television advertising will reach $3.9 billion in 2018, while newspaper print advertising will fall to $1.2 billion.
In other forms of media, the report predicts that electronic books will comprise 37% of the total book market by 2018, while digital music will account for 79% of total music revenue and the profits of streaming video companies will double over the next four years.
"In the overall global market, the shift to digital has been slow and steady, and hasn't had a significant impact on traditional media," said Lisa Coulman, co-editor of the report. "However, in Canada we are seeing large gains in areas like e-books, OTT services and digital advertising, at the expense of television subscriptions, print books and newspaper publishing and advertising. Canadians have a large appetite for digital media, and this trend has brought the market to a turning point. Advertisers looking to grow in the digital market will be wise to look to Canada as a leader in online consumption."