Media competitors need to become frenemies in a time of anaemic growth: PwC

“Negotiation is cheaper and more effective than combat”, according to PwC’s Megan Brownlow in this year’s Australian Entertainment & Media Outlook, as the industry faces continued shifts in consumer and advertiser spending patterns.

PwC’s 16th annual Australian Entertainment & Media Outlook

With the overall Australian entertainment and media market facing anaemic growth of 2.1% over the next five years, Brownlow said industry participants need to start working together as ‘frenemies’ while ditching ‘old-school thinking’ that’s seen a divide between digital and traditional media sectors.

Brownlow said Australians’ increasing willingness to pay for content – being driven by Netflix and Amazon – along with increased mobile and video revenues would define the media landscape over the next five years.