MOSCOW, June 14 (RIA Novosti)
Russia’s entertainment and media market will grow to $39 billion by 2016, with consumer spending in the sector to grow at an average annual rate of 36 percent in 2012-2016, according to a report presented by auditor PriceWaterhouseCoopers (PwC) on Thursday.
Russia will turn into the sixth largest entertainment and media market in the EMEA (Europe, Middle East and Africa) region by 2016, PwC partner Yevgeny Klimenko said.
Russia’s entertainment and media market grew by 21 percent year-on-year in 2011 to $24.1 billion. Russia currently holds seventh place by volume of the entertainment and media market in the EMEA region and is expected to demonstrate an average yearly growth of 10.1 percent.
On-line advertising will be the most dynamically developing segment on the Russian entertainment and media market in 2012-2016 and is expected to grow 29 percent annually. As a result, the market share of this segment will rise from 7 percent to 13 percent to capture the third place by volume on the domestic market.
Access to the Internet and TV and on-line advertising will be the three largest segments of the Russian entertainment and media market by 2016. They are expected to increase their aggregate share of that market from 10 percent to 50 percent.
Russia will turn into the largest EMEA market in terms of volume of TV advertising. In 2011, Russia’s TV advertising grew by 20 percent to $4.5 billion but was behind the U.K., German, Italian and French markets.
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