WITHIN four years, more than a quarter of Australians will have signed up to an online television subscription service, a report forecasts.
And IPTV, other subscription entertainment services and new mobile media apps will drive growth in Australia's media and entertainment industry of 18 per cent over the next five years, it says.
The annual PwC media report forecasts a compound annual growth rate for the industry of 4.1 per cent, but warns that revenues will continue to decline in newspapers and magazines, despite the partial offset of new digital subscriptions. ''However, these new business models require time and patience to be bedded down properly,'' PwC media analyst David Wiadrowski said.
''It would be a mistake to look for instant or short-term success when experimentation is crucial at times of change.''
The report forecasts circulation declines for printed newspapers of 7.6 per cent a year over the next four years, and an annual fall in advertising revenues of 5.1 per cent.
Read more at Brisbanetimes.com.au
Update your news preferences and get the latest news delivered to your inbox.