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The media and entertainment industry in Italy will be worth €36 billion BY 2020, up from €29.6 billion in 2014 (+4 per cent), according to the PwC Entertainment & Media Outlook 2016-2020.
Advertising will reach €9.1 billion (+3.6 per cent), driven by Internet, Video Games, TV and Radio, which will grow over the next five years (respectively by 7.2 per cent, 4.6 per cent, 4.6 per cent and 2.4 per cent). In 2020, digital will account for 48 per cent of the media and entertainment market, against 40 per cent in 2015.
The impact of revenues from Internet access will grow from 29.7 per cent in 2015 to 34.1 per cent in 2020. The penetration of smartphones and tablet will reach 92.1 per cent in 2020, increasing the number of potential users of digital services for all forms of distributed content. Revenues from the Pay TV Subscription segment will continue to grow (CAGR 3.4 per cent) benefiting from the growing consumer interest in OTT/streaming services. PwC E & M expects a slow and steady erosion of the flat subscription model for Premium content, in favour of the Pay per View model.
The advertising market in 2015 achieved revenues of €7,6 billion, growing by 1.9 per cent on 2014 (CAGR in 2020 of 3.6 per cent), mainly due to TV and Internet which, together, account for 70 per cent of the ad market. In particular, the TV segment remains the main channel of investment. Advertising spending on IPTV, one of the bets of the future, will grow with a CAGR of 25 per cent, but for now its specific weight of the total TV advertising market, accounting for 2 per cent, is still marginal.