Phil Stokes highlights the publication's key points and what they mean for the UK
By 2014, the UK entertainment and media business will be worth £56 billion, findings in PricewaterhouseCoopers' Global Entertainment & Media Outlook 2010 - 2014 show.
This represents a CAGR of 3.7%;, which is comparable to Western European growth and slightly lower than the 5% CAGR globally the firm is predicting, which is forecast to be buoyed by the Asia/Pacific and South American markets.
Internet growth continues to drive the change in entertainment and media markets.
The Outlook forecasts that by 2014, more than 25 million households in the UK (96% of all households) will have internet penetration and all but 1% of that will be broadband.
The huge growth area, though, is in mobile internet access. In 2009 there were 10 million UK subscribers but by 2014, the end of PwC's forecast period, there will be 24.5 million - an astonishing CAGR of 20%.
Of overall entertainment revenue, 80% is devoted to existing physical, off-line, analogue models.
Phil Stokes, PwC's UK Entertainment & Media leader, said “Entertainment & Media is an industry accustomed to embracing disruptive technologies. However, the current wave of change is of a different magnitude to previous ones - in its speed and simultaneous impact across all segments, accompanied by falling barriers to entry.
"The recession has not slowed the ever advancing digital transformation or the rapid consumer uptake of new media experiences," he added.
Business models are under intense scrutiny and companies are encouraged to use their existing models and invest in their existing customers but, imperatively, use the revenue generated from those models to extend the experience for their consumers - be that at home, at work or when they are on the move.
For further information and to purchase copies, individual chapters or our Industry Overview of the Global entertainment and media outlook 2010-2014 please visit our global site at www.pwc.com/outlook