VN tops the world’s entertainment and media market

VGP - Việt Nam is supposed to be the world's fastest growing entertainment and media market in the next five years and may have a market value of over US $2.3 billion in 2013, predicts PriceWaterhouseCoopers.

July 14, 2009 1:37 PM GMT+7

Internet vigorously surges in Việt Nam - Illustration photo

The assessment was made by the multinational consulting firm in its 10th annual Global Entertainment & Media Outlook 2009-2013.
Based on the report, entertainment and media sectors in Việt Nam are expected to have the fastest growth rate of 16.7% in the next five years. The growth will mainly stem from big surges in Internet services (up 20.9%), advertisement (10.9%) and individual consumption (16.1%).
According to PriceWaterHouseCoopers, the economic growth as well as improved infrastructure (multi-channel services, broadband Internet, mobile phones) are the major driving forces for the development of entertainment and media industries in Việt Nam.
Though seeing a threefold increase in terms of market value from 2004 to 2009, the industries still have huge potentials for greater boom, said PriceWaterhouseCoopers.
The firm forecasted that the rising of Internet services, TV advertisements and cable-TV subscriptions will continuously help Việt Nam's entertainment and media to rocket.

By Kim Anh