Local digital music sales are expected to triple to 425 million rand in 2014, from 130 million rand in 2009, representing an average compound annual growth of 26.7%, according to new data from assurance, tax and advisory services group PricewaterhouseCoopers (PwC).
PwC's first edition of its South African Entertainment and Media Outlook: 2010-2014 forecast says spending on digital platforms is not expected to surpass spending on physical formats over the next five years. However, by 2014, digital spending will be more than half of physical spending.
PwC also stated that the physical format market would continue to decline at double-digit annual rates to 2012 and would moderate to single-digit decreases during 2013-14.
“Spending on physical formats is expected to decrease to R810 million in 2014 from R1.4 billion in 2009, a 10.4% compound annual decline," according to Vicki Myburgh, director of Entertainment and Media at PWC Southern Africa.
You can get the full report here.
Article found on www.mio.co.za
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