2007 Global Markets Forecast: Gaming Industry Set to Outpace Music Industry

ArsTechnica today releases some results from Price Waterhouse Cooper’s “Global Entertainment and Media Outlook: 2007-2011: Industry previews“. Global spending on video games is forecast to, as early as during 2007, surpass global spending on music.

Among the factors influencing this prediction:

  • music’s continual struggle with DRM (digital rights management) issues;
  • ripe field of in-game advertising (which revenues could increase tenfold by 2011)
  • the increasing penetration of both broadband and consoles with online capabilities
  • cell phones capable of downloading games
  • increasing penetration of “next gen”/technologically advanced consoles

PwC predicts the global gaming industry to experience a compound annual growth rate of 9.1 percent from 2007-2011, increasing the market from $37.5 billion today, to $48.9 billion in 2011.

Lime

Thanks to ArsTechnica

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Filed under Business, Gaming, International, Tech, Xbox 360

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