Thai media and entertainment industry in spending spree
The entertainment and media industry in Thailand expects a significant rise in spending by $5 billion to $14.8 billion by 2017, fueled by surging demand for internet access, TV advertising and consumer and educational book publishing, a study release by consultant PricewaterhouseCoopers (PwC) says.
The Global Entertainment and Media Outlook: 2013-2017 predicts that spending on the entertainment and media industry in Thailand this year will stand at $9.7 billion. $2.3 billion will be spent on TV advertising, $2.1 billion on internet access and $1.2 billion on books and newspapers.
The Thai entertainment and media market will grow at a compound annual growth rate of 11.3 per cent over the next five years, according to the study. This is remarkably high as compared to 4.8 per cent in the US and just 3 per cent in Western Europe.
The report says that increasing access to the Internet and explosive growth of smart devices usage will continue to be significant driving forces behind this entertainment and media market over the long term.
The Thai information and communication technology ministry recently said the number of internet users in Thailand could double in 2013, thanks to the proliferation of smartphones and increasing availability of broadband. Thailand currently has 26 million internet users out of a population of roughly 67 million.
The entertainment and media industry in Thailand expects a significant rise in spending by $5 billion to $14.8 billion by 2017, fueled by surging demand for internet access, TV advertising and consumer and educational book publishing, a study release by consultant PricewaterhouseCoopers (PwC) says. The Global Entertainment and Media Outlook: 2013-2017 predicts that spending on the entertainment and media industry in Thailand this year will stand at $9.7 billion. $2.3 billion will be spent on TV advertising, $2.1 billion on internet access and $1.2 billion on books and newspapers. The Thai entertainment and media market will grow at a compound...
The entertainment and media industry in Thailand expects a significant rise in spending by $5 billion to $14.8 billion by 2017, fueled by surging demand for internet access, TV advertising and consumer and educational book publishing, a study release by consultant PricewaterhouseCoopers (PwC) says.
The Global Entertainment and Media Outlook: 2013-2017 predicts that spending on the entertainment and media industry in Thailand this year will stand at $9.7 billion. $2.3 billion will be spent on TV advertising, $2.1 billion on internet access and $1.2 billion on books and newspapers.
The Thai entertainment and media market will grow at a compound annual growth rate of 11.3 per cent over the next five years, according to the study. This is remarkably high as compared to 4.8 per cent in the US and just 3 per cent in Western Europe.
The report says that increasing access to the Internet and explosive growth of smart devices usage will continue to be significant driving forces behind this entertainment and media market over the long term.
The Thai information and communication technology ministry recently said the number of internet users in Thailand could double in 2013, thanks to the proliferation of smartphones and increasing availability of broadband. Thailand currently has 26 million internet users out of a population of roughly 67 million.
