Study: Global Spending on Gaming Will Reach $49 Billion in 2011
Worldwide consumer spending in the video game sector will jump nearly 75 percent in the next four years, according to a study released Thursday by the accounting firm of PricewaterhouseCoopers. This growth will lead gaming to overtaken the struggling music industry as soon as next year, the Hollywood Reporter said.
The PricewaterhouseCoopers Global Entertainment and Media Outlook, in its eighth annual edition, also found that the overall entertainment media is growing at an exponential rate, and that rate is led by the Internet and TV distribution, in addition to the gaming sector.
The survey also predicted that the global gaming market will be worth nearly $50 billion by 2011, up from $32 billion last year. Spending on gaming worldwide jumped 14 percent in 2006, driven largely by the advent of new consoles and accompanying accessories.