Media revenue to hit $2.2t by 2012

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NEW YORK, June 18 (Reuters): Global entertainment and media revenue is forecast rising by an average of 6.6 per cent a year to $2.2 trillion by 2012, boosted by advertising-supported digital and mobile media and an explosion in the adoption of broadband.

According to the PricewaterhouseCoopers (PwC) annual forecast released Wednesday, advertising tied to the burgeoning interest in watching videos on the Internet and on devices, such as Apple Inc's iPod, will account for 24 per cent of growth in the sector and is projected to grow fastest at a compound annual growth rate of 19.5 per cent to 2012.

Total entertainment and media revenue growth is seen outpacing global gross domestic product, which will increase 5.7 per cent, according to the report.