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PwC: Key to success is business model transformation
August 4, 2012
By Rob Starr, Content Manager, Big4.com
During a time of widespread disruption to the entertainment and media industry, experimentation with new business models is essential but some failure needs to be expected and accepted. As well, the Australian entertainment and media industry will grow 18 percent over the next five years according to the Australian PwC Entertainment and Media Outlook 2011-2015 released today.
PwC predicts the forecast growth will increase the revenue of the entertainment and media industry in Australia to $38.3 billion by 2016. The industry’s predicted compounded annual growth rate (CAGR) is 4.1 per cent over the next five years.
Recent regulatory reviews including the Copyright Act Review, the Finkelstein Inquiry, the Anti-Siphoning List Review and the Convergence Review have thrown Australian content and its value into the spotlight. Research conducted for the Convergence Review shows that some types of Australian content – drama, documentary and children’s programming – would all but disappear if it were not regulated, due to high costs of production.
PwC forecasts that by 2016, 27 percent of Australians will have switched to an IPTV subscription service. This service differs from over-the-top video providers such as YouTube because it is managed for quality of service (QoS) delivery and usually funded through consumer subscriptions rather than advertising.