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Digital media to hit s4.4bn mark

THE digital media landscape in Ireland will expand by 2.7pc and hit more than €4.37bn in value, research shows.

The PricewaterhouseCooper's (PwC) latest global entertainment and media outlook expects internet advertising to record double-digit growth.

In 2011, the Irish internet advertising market was valued at €148m and this will grow to €304m in 2016, PwC said.

If internet advertising achieves this growth, it will become the largest advertising channel in Ireland, representing almost 30pc of the total 2016 advertising market.

Entertainment and media partner at PwC Ireland, Susan Kilty, said that all focus is on future growth in the sector.







Striving

"Entertainment and media companies have reached what we're calling the 'end of the digital beginning', they've made the commitment to a digital future, and are now striving to make the necessary changes to their products, distribution and organisations to deliver sustainable -- and profitable -- growth," she said.

PwC outlined that entertainment and media companies needed to make changes to take advantage of the rapid and irreversible changes under way in the behaviour of consumers and employees. Bartley O'Connor, head of PwC Ireland's technology and media consulting practice, said the new world was hugely more complicated than the old world and companies had to work harder and faster to stay relevant to consumers.


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