C3 alum Geoffrey Long sent along a quite interesting story from The News Market which explained both that spending on "convergent platforms" will surpass 50 percent of total global entertainment and media spending and also that it is estimated that the global media/entertainment business will grow to more than $2 trillion U.S. dollars by 2011 according to current estimates of a 6.4 percent "compound annual growth rate."
The information is based on a study from PricewaterhouseCoopers called the Global Entertainment and Media Outlook 2007-2011.
According to PricewaterhouseCoopers' press release, "convergent platforms" here means "convergence of the home computer, wireless handset and television."
Digital and mobile itself is expected to be a $153 billion per year industry by 2011, according to this study, and the forecast predicts that advertising on the Internet will make up 14 percent of the global market for advertising by 2011.
The press release states that "Asia Pacific will be the fastest-growing convergent platform region with a projected 13.5% increase and double-digit growth is expected in Latin America as Internet and broadband penetration begins to gain momentum."
The U.S. market is considered both the largest but slowest growing market for entertainment and media, and the study estimates that U.S. spending on Internet advertising and access will be more than newspaper publishing by 2009.
PricewaterhouseCoopers' Global Managing Partner for E&M Marcel Fenez was quoted as saying:
The surge in broadband and wireless adoption is generating new digital revenue streams across multiple segments. Broadband growth is driving online advertising while the proliferation of next-generation wireless devices designed to play digital music, video games and receive TV programming is fuelling mobile distribution. For example, Asia Pacific spending on distribution of television programming on mobile phones is expected to reach $6.5 billion in 2011 from just $26 million in 2006.
Compare this to the study I wrote about last December from Juniper, in which mobile content was expected to reach $76.9 billion by 2011. At the time, I wrote:
Another major shift in mobile media over the next five years, according to Juniper's estimations, is a large increase in the amount of consumption in North America, citing that North America currently makes up only 14 percent of the global market for mobile content, with the Asia-Pacific region and Europe dominating worldwide consumption. However, that is expected to shift somewhat by 2011, according to Juniper's estimations.
See this post from back in March regarding ad sale increases.