Dive summary:
- Accounting firm PricewaterhouseCoopers has released a report that predicts online and digital media sales will overtake physical sales by 2017.
- Online purchases of movies, music and other forms of entertainment on services such as Netflix is predicted to rise to 43% of consumer media spending by 2017, up from less than one third in 2012.
- Total U.S. spending on entertainment and media will reach $632.1 billion total by 2017.
From the article:
"Most forms of media will weather the transition to the digital age quite well, according to Deborah Bothun, advisory leader for the firm’s media and entertainment practice. Companies in film and TV are adapting to changing viewing habits, she said.
'We’ve had a lot of speculation about TV going away, many segments crashing and burning,' Ms. Bothun said. 'That hasn’t been the case. There’s a lot of innovation going on.'”