PwC: New Zealand has to catch up in digital media

The PriceWaterhouseCoopers (PwC) Media New Zealand Media and Entertainment Outlook 2011-2015 was outlined in an Interactive Games and Entertainment Association briefing recently.

The briefing summarised the report with a presentation from PwC, talking about the current and forecasted trends within the New Zealand market thru to 2015.

The New Zealand media sector is forecast to grow 5.9% in the four year period, compared to almost 7% in interactive games. The games market will see a rise from NZD$138 million in 2011 to a predicted NZD$192 million in 2015.

According to the report, this growth does not represent the kind of push necessary for New Zealand to return to pre-recession levels in the short term.

PwC recommends that the New Zealand media landscape at large needs to be able to adapt to better accomodate the digital market and properly capitalise on digital advertising spend. New Zealand currently trails many countries in its shift to digital media.

The 5.9% growth in the media sector compares to 6.7% in the Asia-Pacific region, and the growth of just under 7% in the interactive games sector compares to 9.5% growth in the same period in Australia.

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