Romanian entertainment and media market worth $2.3 billion in 2009, will grow by 60% by 2014, to $3.5 billion. The compounded annual growth rate will be 9.1%, according to “Global Entertainment and Media Outlook” report released by PricewaterhouseCoopers.
The local market will be the third fastest growing market in Central and Eastern Europe, after that of Turkey (with a compounded annual growth rate of 13%) and Russia (9.3%), and will see higher growth rates than the CEE average market growth (8.3%) and double from the compound annual growth rate in the EMEA region – 4.2%. The three largest media markets in Central and Eastern Europe in 2014 will be Russia ($25.6 billion), followed by Poland ($10.9 billion) and Turkey ($9.7 billion).
The media and entertainment market includes advertising and media agencies, television and media companies, internet services providers, book and video games industry, Ruxandra Bandila, Marketing & Business Development Director, PricewaterhouseCoopers Romania told Wall-Street.
The most dynamic market segment will be the internet access with spending expected to double by 2014, from $810 million in 2009 to $1.6 billion. Advertising spending will also see a noticeable growth in Romania, from $417 million to $747 million in 2014. On a different note, the end consumer spending for entertainment and media, excluding spending on Internet access, will grow at a slow annual compound pace of 1.9%, reaching $1.15 billion in 2014, up from $1.05 billion in 2009.
The global media and entertainment market, as a whole, will grow by 5% compounded annually for the entire forecast period to 2014 reaching $1.7 trillion, up from $1.3 trillion in 2009. Fastest growing region throughout the forecast period is Latin America growing at 8.8% compound annual rate during the next 5 years to $77 billion in 2014. Asia Pacific is next at 6.
