PricewaterhouseCoopers (PWC), the world's second largest professional services network, has announced its global predictions for the filmed entertainment sector up until 2018.
The organisation has announced that it believes Filmed Entertainment revenue will surpass US$100bn in 2017 as emerging markets drive growth.
Globally, Filmed Entertainment revenue will rise at a CAGR (Compound Annual Growth Rate) of 4.5% from US$88.3bn in 2013 to US$110.1bn in 2018, passing US$100bn in 2017. While some of this expansion will be driven by growing demand in emerging markets, notably China, mature markets such as the US, the UK and Japan will also continue to grow.
Box office resilience underscores the continuing popularity of the cinematic experience.
Global box office revenue will exceed revenue from physical home video in 2014 and grow over the forecast period to US$45.9bn by 2018, from US$36.1bn in 2013, at a 4.9% CAGR.
Also, PWC predicts that China will provide a challenge and an opportunity. China will overtake Japan to become the world’s third-largest market for filmed entertainment (behind the US and UK) in 2018. Total revenue in China will reach US$7.0bn, up from US$3.8bn in 2013, at a CAGR of 13%. The US remains the dominant global force, and particularly strong growth in total electronic home video revenue will drive the country’s total filmed entertainment revenue at a 4.7% CAGR to 2018.
This article originally appeared in its entirety on PWC.com 04/06/2014