The latest edition of the PricewaterhouseCoopers(PwC) Global Entertainment and Media Outlook predicts the industry to be on the brink of a period of growth, with the Middle East advertising market tipped for particularly strong growth between 2010 and 2014.
According to PwC the TV advertising market in the pan-Arab region will experience a compound annual growth rate of nine percent between 2010 and 2014, double that of North America and outperforming the EMEA region as a whole (3.8 percent).
During the next five years, Middle East and Africa will continue to be the fastest-growing area in EMEA, with an 8.6 percent compound annual increase to US $5.4 billion in 2014 from $3.6 billion in 2009. Growth will be driven by high-single-digit increases in the pan Arab regions and South Africa.
Spending on subscription TV will also experience healthy expansion during this period rising from $2.3 billion in 2009 to $3.3 billion in 2014.
Following a year of decline in 2009, the global Entertainment and Media market, as a whole, will grow by five percent compounded annually for the entire forecast period to 2014 reaching $1.7 trillion, up from $1.3 trillion in 2009.