The latest PwC (PricewaterhouseCooper) Global Entertainment and Media Outlook report is out. According to the report, over the next 5 years the shift from physical distribution to digital media will continue and the global spend will increase from $1.6 trillion in 2011 to $2.1 trillion in 2016. Digital media will account for 67% of the overall spend.
The higher efficiency of digital media means reduced entertainment and media spend, but in fact the trend is giving a boost to certain sectors. After years of decline, digital purchases will drive the music industry next year. In 2011 more than 33% of recorded music spend was generated by digital. By 2015 the spend on digital recorded music will surpass that on physical music. Digital will also cannibalize other traditional media formats, for instance, streamed and over-the-top video services will eat into the spend on TV subscriptions.
With increase in the importance of digital media, the value of quality web content is also increasing. The internet is the preferred source of information for a majority of people and the only way to reach them is through quality content. If you lack the resources required for creating interesting, informative and interactive content, now is the time to consider investing in professional content writing services.