Worldwide spend for media and entertainment is expected to reach $2.2 trillion in 2017, rising steadily from the $1.6. trillion tracked in 2012, according to the latest forecast from
PricewaterhouseCoopers. "Digital media — fueled by the expansion in ownership of smart devices — is expected to account for 43% of all media spending in the U.S. by 2017," writes Meg
James. "That's up from 31% of the total in 2012."
The report has less-happy news for the newspaper business: "Total U.S. newspaper revenue is projected to slip at a combined annual growth
rate of 2.9% between 2013 and 2017,"
writes
Advertising Age's Michael Sebastian.
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