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PricewaterhouseCoopers Predicts Double-Digit Growth For Games 2003-2007

PricewaterhouseCoopers has released it annual "Entertainment and Media Outlook" report, predicting that spending on entertainment and media industry around the globe will surpass $1.1 trillion in 2003, rising by 3.7 percent from its 2002 level.
The firm forecasts that, spurred by a 30% CAGR in broadband, growth opportunities for television distribution, videogames, Internet access and home video will also spike. It believes that globally, more than 153 million households will be broadband-enabled by 2007. Of note, the new report also forecasts double-digit CAGR increases for videogames between 2003-2007. PricewaterhouseCoopers singled out game industry as the fastest growing entertainment/media segment -- outpacing Internet advertising and access spending. The firm thinks that games will be boosted on two fronts: 1. Online video gaming growth will be stimulated by increased broadband access 2. The wireless market will surge due to availability of new game-capable cell phones. Next-generation console hardware will drive the industry's global expansion to $35.8 billion in 2007, growing at an 11 percent compound annual rate. Taking the U.S. alone, PricewaterhouseCoopers believes videogames, based on a 24.6% CAGR through 2007 to reach $12 billion, will become the U.S. market's fastest growing sector of the entertainment and media category.

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