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Vietnam to be fastest-growing entertainment-media market, say PwC   2009-07-19 - Thanh Nien

 
 
   
Vietnam is set to be the world’s fastest-growing entertainment and media market over the next five years, according to PricewaterhouseCoopers.

 

The PricewaterhouseCoopers (PwC) Global Entertainment and Media Outlook survey, conducted in 48 countries, said the Vietnam market segment would grow at a compound annual rate of about 16.7 percent through 2013, beating out Saudi Arabia and Pakistan, whom the survey ranked second (15.1 percent) and third (13 percent), respectively, in the overall rating.

The total value of the E&M market in Vietnam will almost triple in the 5 years beginning in 2009 and is expected to exceed US$2.3 billion in 2013, PwC said in the annual survey.

According to PwC, Vietnam still has substantial room for growth due to low entertainment and media penetration.

In line with global trends, growth in Internet access spending, television advertising and TV subscriptions is projected to lead the industry’s expansion in Vietnam in the next five years.

PwC said the global entertainment and media market as a whole, including both consumer and advertising spending, will grow by 2.7 percent compounded annually for the entire forecast period to $1.6 trillion in 2013.

Globally, the survey expected to see a 3.9 percent drop in 2009 in the market and a mere 0.4 percent rise in 2010, with a period of much faster growth during the remaining period to 7.1 percent in 2013.



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