The media industry is expected to grow by 2.8 percent a year until at least 2016, according to the study by accounting and management consulting firm Pricewaterhouse Coopers (PWC), reported in the Handelsblatt business daily on Tuesday.
“We expect robust growth for the German media market over the next five years, driven above all by the rising revenues for digital media,” Werner Ballhaus, director of PWC’s division of technology, media and telecommunications told the newspaper.
Internet advertising surpassed television, winning 23 percent of the market share to television’s 20.8 percent, according to the paper. In the last year alone, the sales figures for online advertising rose 12.3 percent.
Ballhaus indicated that those increases were likely to continue. “The shift of the advertising budget to the internet and in favour of digital media will not lessen in the coming years,” he said, according to the paper.
Total advertising expenditure rose 3.1 percent in 2011, due to the relatively strong domestic economy, bringing the levels nearly equal to those from before the financial crisis of 2008, the Handelsblatt said.