By 2027, the U.S. television industry will see $30 billion less annually from traditional subscription and advertising revenue than it did a decade earlier amid ongoing cord cutting, according to a new forecast by PwC. The rate of subscriber decline in the traditional TV bundle hit a milestone in the third quarter of 2022, when the number of pay TV households fell below half the total number of U.S homes for the first time.
The global entertainment and media industry was hurt less than the overall economy by the COVID-19 pandemic in 2020 and is expected to grow faster through 2025, according to PwC’s new Global Entertainment and Media Outlook report. After dropping 3.8% to $2 trillion during the COVID-19 impacted year of 2020, entertainment and media revenues are projected to increase to $2.2 trillion in 2021 and continue to climb reaching $2.6 trillion in 2025, according to PwC.
Merger and acquisition activity in the media and telecom sector continued to pick up steam as the pandemic waned in the first half of 2021, according to a new report from PwC. There were 410 deals announced in the six months preceding May 15, worth $83 billion, according to PwC, up from 61 deals in the second half of 2020 and just 32 in the first half of 2020. PwC said the value of the deals is the highest it has seen in years.
Despite — or maybe because of — the COVID-19 pandemic, internet ad spending soared 12.2% during 2020 to $139.8 billion, according to a just-released annual report from the Interactive Advertising Bureau and PwC.
Merger and acquisition activity in the media and telecommunications business slowed in the fourth quarter, leaving dealmaking down for all of 2019, according to a new report from consultant PwC.
TV is losing some key ground to digital where it matters most. PwC has revised downward the growth rate for ad spending on TV slowing to 4% from 5.5% through 2019. Mobile is also expected to grow 25% annually for the next five years, among other disruptive trends.
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Media, Entertainment M&A Cool Down In 1Q
Entertainment, media and communications companies aren’t getting hitched at the rate they once did, but when they do hook up, it tends to be a blow-out wedding. The volume of mergers and acquisitions in the sector during the first quarter of 2015 was at its lowest point in two years, with 198 total deals, according to a new report by research and accounting firm PwC. However, the value of those pacts topped $39 billion, representing a 144% increase from the previous quarter.
TV is losing some key ground to digital where it matters most. PwC has revised downward the growth rate for ad spending on TV, slowing to 4% from 5.5% through 2019. Mobile is also expected to grow 25% annually for the next five years, among other disruptive trends.
