After two years of sluggish growth, the Romanian entertainment and media (E&M) industry has stabilized, begins to show signs of recovery and will register an average growth rate of 8.8 pc per year between 2011 and 2015, according to this year’s edition of the PwC Global Entertainment & Media Outlook 2011-2015. The value of the market will increase from USD 2.5 bln in 2010 to USD 3.8 bln in 2015. Most of the increase will come out of the growth of the Internet access segment, which will grow on average by 12.9 pc, while advertising spending will register a compound annual growth rate of 8.9 pc. Consumer spending on media products will be the slowest growing market segment, with an average growth rate of 4.7 pc.
Romanian media and entertainment market will be the third fastest growing the region after those of Turkey (an average growth rate of 13.2 pc) and Russia (11.7 pc), but ahead of Poland (7.1 pc), the Czech Republic (6.8 pc) and Hungary (6.2 pc). However, in absolute terms, the Romanian market will remain the smallest in the region, being approximately one tenth of the value of the Russian market (USD 35.7 bln by 2015).
“It’s the golden age of the empowered consumer, with the demand for digital experiences increasing and becoming the norm. In many markets the E&M industry emerging from the recession has been profoundly changed as the ongoing consumer migration to digital has accelerated due largely to the device revolution,” stated Bogdan Belciu, Partner, Advisory, PwC Romania.