3:52:49 PM | 16/7/2009
Vietnam is predicted to take the lead in the expansion of its entertainment and media (E&M) market in the next five years, with the overall compound annual growth rate to be the highest in the world at 16.7 per cent, said global business advisory firm, PricewaterhouseCoopers.
PricewaterhouseCoopers, in its 10th Global Entertainment & Media Outlook report, said the value of Vietnam’s E&M market nearly tripled in five years from 2004 to 2009, and is expected to exceed US$2.3 billion in 2013.
The internet services market, which is expected to grow by 20.9 per cent in the next five years, will contribute mainly to the industry’s growth, the firm said.
Advertising and consumer spending (excluding Internet access) will likely expand 10.9 per cent and 16.1 per cent, respectively, it added.
The consulting firm said economic expansion and the improvement in telecom infrastructure such as multi-channel television, broadband internet and mobile phones would help drive the growth of the E&M industry in most of the fastest growing countries, including Vietnam.
The E&M global market is forecast to grow 2.7 per cent annually during the period to reach US$1.6 trillion in 2013. (Vietnam Plus)
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