Survey paints rosy picture for Irish newspapers
By Erina Lin, Wednesday 10 October 2007 at 22:19 :: Newspaper Data :: #682 :: rss
Ireland’s newspaper sector is on target to generate revenues of over $1 billion within four years, according to new research by PricewaterhouseCoopers (PwC).
The report also predicts that it will grow at more than double the global average until 2011.
Overall, PwC indicates the Irish media and entertainment industry will be worth $4.2 billion by 2011, with an average growth of 5.7 percent per year until then, according to the Irish Independent.
The fastest growing will be Internet spending, with an average jump of 14.9 percent per year, ahead of the 13.4 percent global average annual growth.
Video games will be the second biggest growth area, which is expected to rise by an average of 10.5 percent each year. It is also ahead of the global rise, which is expected to be 9.1 percent.
Although new media will be the fastest growing sectors, PwC confirms that newspapers will remain the largest segment of Irish media and entertainment industry.
The newspaper industry in Ireland, which includes both circulation sales and advertising, is set to increase at an average rate of 5.3 percent until 2011, more than double the predicted 2.1 percent growth globally. This means that by 2011 the industry will be worth more than $1 billion annually.
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