COVID-led acceleration and changing viewing habits key to success, says PWC report

November 20, 2020 10:51

Australia’s entertainment and media revenue is set to contract by 4.46% to $57.4 billion in 2020, according to the PWC’s Australian Entertainment & Media Outlook 2020-2024.

The Outlook, now in its 19th year, indicates advertising revenue is set to fall to $14.9 billion in 2020, equating to a compounded annual reduction of 11.31%.

PWC Australia partner and Outlook editor, Justin Papps, said much of the drop could be attributed to the pandemic-driven changes in consumption; although, the industry’s fundamental growth trajectory remains largely positive, as companies accelerate their transformations.

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Olivia Kruimel

Olivia Kruimel was the managing editor at Mumbrella. She has more than 15 years of experience in journalism, communications and marketing. Her journalism career began at Fairfax Media (now part of Nine) and includes various B2B publications such as B&T, Travel Today and ALB. As a marketer Olivia has worked for Standard Chartered and various global law firms.