Consumers’ reluctance to pay as much for digital media as they do for physical products, such as news, books and music, will drag on the global media and entertainment industry’s growth over the next five years, according to a new industry forecast.
The media and entertainment industry is likely to grow at a 5.7 per cent compound annual rate over the next five years, slower than the 6.6 per cent annual growth rate expected in nominal GDP over the same period, according to PwC’ annual outlook for the sector, which is to be released on Tuesday.
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