The Drum reports on the latest forecast for the UK entertainment and media industry, which has painted a picture of sustained optimism in the sector, with rapid expansion in internet advertising, internet access, OOH advertising, video games and TV advertising, fuelling its total valuation to £64bn by 2018.
This figure is arrived at courtesy of a compounded annual growth rate of 3.1 per cent through 2013-18 with the country maintaining its position as the second largest E&M market in the EMEA behind Germany.
Digital E&M spend (excluding spend on internet access) is forecast to eclipse even this however with compounded growth of 10.9 per cent over the same period.
PwC’s latest Global Entertainment and Media report also forecasts 15.5bn app downloads in the UK by 2018 – by which time 50 per cent of the population will own a tablet and 73 per cent will own a smartphone.
2018 will also be a landmark date for e-books if the projections come good with the digital medium overtaking print sales by this date.