Aussie Live Growth Forecast: 5.5 Percent

The Aussie live sector will be worth $837 million by the year 2016, predicts the PriceWaterhouseCoopers Media Outlook 2012-2016.

Last year the sector was worth $668.53 million. Its expected 5.5 percent annual growth in the five years will overtake the 4.9 percent growth rate of the overall music and entertainment industry.

This is attributed to a strong Australian dollar luring major overseas acts, and promoters providing better experience for consumers, hitting target audiences via social media and actively drawing the over-35 market to live shows.

According to PwC, the Australian recording music sector will rise from next year but will face great competition from the video games sector, which is set to grow 9.5 percent annually to be worth $2.3 billion by 2016.

Daily Pulse