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PricewaterhouseCoopers forecasts healthy growth for the global entertainment and media industry in the next five years and expects Hong Kong's newspapers to retain their dominant share of the advertising pie, bucking the international trend of the digital media's ascent. 
 The global consultancy said entertainment and media spending would rise to US$1.9 trillion in 2015 from US$1.4 trillion last year, growing at an annual compound rate of 5.7 per cent. 
Last year, PwC predicted a 5 per cent annual expansion to 2014.  The industry grew 4.6 per cent.
PwC said in a report the economic growth of the so-called BRIC (Brazil, Russia, India, China) countries would exceed that of the developed markets, with a  compound annual growth rate (CAGR) of 11.7 per cent until 2015.  
 Developed nations were expected to grow 3.9 per cent, with  Japan seeing  the slowest growth at 2.5 per cent. 
The United States will remain the biggest media market while China, with a CAGR of its entertainment and media industry of 11.6 per cent, has the potential of overtaking Germany as No 3, after the US and Japan.
 PwC said advertising, whose performance is closely tied to the overall economy, last year rebounded  5.8 per cent, after  an 11 per cent slump in 2009. It said the  industry would grow  5.5 per cent  to US$580 billion by 2015, from last year's US$440 billion.
Globally, digital advertising will take a bigger slice of the advertising pie. According to the report, its global share will rise from 16 per cent last year to 22.5 per cent in 2015, mirroring an expected decline in print media.
However, PwC sees a different pattern in Hong Kong. The market share of internet advertising is expected to rise 1 to 7 per cent in five years while that of newspapers is forecast to maintain its 33 per cent market share and television's share to slide 2 per cent to 26 per cent. 
The advertising market share of Hong Kong magazines is forecast to edge up by a percentage point from  16 per cent.
Cecilia Yau, a partner of PwC's entertainment and media practice, said that this was because of different market dynamics in Hong Kong.
 'Traditional media is very effective in promoting products like beauty items, which constitute the main advertiser in Hong Kong,' Yau said.
PwC said device revolution was creating  opportunities in some media segments. 
'The migration of the consumer to smart devices is increasing as wireless network upgrades allow for faster download speeds and the markets for smart devices and mobile apps are now driving one another,' it said.  
PwC said  video games would grow at a compound rate of 8 per cent  to 2015 in terms of global consumer spending, followed by television subscriptions and licence fees, and films. The only media segment that would  see a decline - 1 per cent - was  music.
$580b
The size of the global advertising market, in US$, by 2015
- 5.5 per cent annual growth is seen



Outlook bright for media and entertainment sectors