Aussie Biz To Grow

Australia’s entertainment and media market will grow by 18 percent to be valued at A$40 billion ($37.5 billion) by 2018, according to PricewaterhouseCoopers’ Australian Entertainment and Media Outlook 2014-2018 report. 

The three main music sectors – physical distribution, digital distribution and live music – will grow at an annual rate of 0.6 percent, according to the report.

Of this, digital will post the biggest growth, from A$498 million ($467.6 million) in 2013 to A$658 million ($617.9 million) in 2018. The report said that while the live music sector remains active, a fluctuating dollar and cooling festivals market means international touring is no longer a guaranteed success.