The traditional TV and home video segments have negative growth expectations for the first time, according to PwC’s Global Entertainment & Media Outlook 2019–2023 report.
The study found that global M&E spending will rise at a compound annual growth rate (CAGR) of 4.3 per cent over the next five years, with VR remaining the highest-growth segment – although its lead over OTT video is diminished.
Meanwhile podcasts and esports have CAGRs of 28.5 per cent and 18.3 per cent respectively.
PwC emphasised the focus on personalisation and mobile technology (augmented by 5G) in the industry, claiming that M&E companies are “leveraging data and usage patterns to pitch their products not at audiences of billions, but at billions of individuals.”
Wilson Chow, PwC China global technology, media and telecommunications leader and partner, said: “5G’s impact will be felt across the entire technology, media and telecommunications value chain for the next decade.
“It will hasten existing trends towards personalisation, making it easier, more convenient and cheaper to access more media on phones and other mobile devices.”