Digital to Make Up 44% of Global Media Spending by 2017

TV advertising expected to remain steady, according to PwC report

Spending on digital media - largely driven by smartphone and tablet ownership - is expected to account for 44% of all entertainment and media expenditures in the next five years, far outpacing other sectors, according to a PriceWaterhouseCoopers report issued Wednesday.

According to PwC's Global Entertainment and Media Outlook 2013-2017, consumer access to content is being democratized by increased access to the Internet and smart devices. And though traditional non-digital media will dominate E&M spending over the next five years, the growth will be concentrated in digital media platforms and consumption.

The rising importance of mobility will become a big factor in the rise in digital spending. At a PwC event in New York Wednesday to launch the report, PwC partner, entertainment, media and communications, Sean DeWinter said that 77% of Internet searches are done with a mobile device in the presence of a fixed PC or a laptop.

Click here to read the full story at Multichannel News.