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Global advertising to grow at $375b by 2007: PWC study
LOS ANGELES: The annual five-year entertainment and media forecast by accounting giant PricewaterhouseCoopers concludes that advertisers faced with continued economic and political risk will opt for the widest possible audience and they would use media giants that own networks, such as CBS parent Viacom Inc. or Fox parent News Corp.
The company expects global advertising to grow at a 4.1 per cent compound rate, to $375 billion from $308 billion, with the US driving growth.
Overall, PricewaterhouseCoopers predicts that US advertising will rise to $189.2 billion by 2007, a 4.9 per cent compounded growth rate from $149 billion in 2002. Broadcast and cable is expected to be $37.4 billion, a 5.7 per cent compound rise from $28.3 billion last year. Spanish-language advertising is expected to grow to $1.5 billion by 2007, a 50 per cent increase, the study says.
The study predicts that additional original programming will help attract more ads to cable despite the fact that ads from cable will shift to broadcast media.
Stefanie Kane, a partner in the firm’s media practices group and an editor of the report, was quoted as saying in a LA Times report that there was a huge shift towards media with a larger reach.
PricewaterhouseCoopers expects TV and radio advertising to do better than print. The company expects global advertising to grow at a 4.1 per cent compound rate, to $375 billion from $308 billion, with the US driving growth. The annual study measures prospects for such industries as film, TV, music, radio, the Internet, video games, publishing and theme parks.
The current review predicts that the entertainment and media business will continue to rebound from the sharp downturn in 2001, although growth will be tempered by near-term softness in the world economy, instability in some regions of the world and a greater piece of the economy being diverted toward defense and security.
By 2007, entertainment and media worldwide will be a $1.4-trillion business, up from $1.1 trillion last year, the study says. About $610.8 billion of the 2007 figure is expected to be in the US. Among the strongest growth areas will be in DVD and video game sales, with the film box office proving resilient.
However, the report adds that music industry will continue to be hurt by piracy. But by 2006, the report predicts, licensing of music digitally will be sparking a turnaround there.
The forecast also predicts a rebound in Internet advertising driven by the proliferation of broadband use. The report says that more than 153 million homes worldwide will have broadband by 2007, with broadband growing in the US by 22.3 per cent, to 38.8 million homes.
The study also expects that increased government spending on defence and security will be a mixed bag for entertainment and media: It will hurt by taking up a larger chunk of the economy, but it probably will trigger inflationary pressure that would allow companies to more easily pass along costs.
NEW DELHI: Hamdard Laboratories gathered a cross-section of India’s achievers in New Delhi on Friday, handing out the Hakeem Abdul Hameed Excellence Awards to figures who have left their mark across healthcare, education, sport, public service and the arts.
The ceremony, attended by minister of state for defence Sanjay Seth and senior officials from the ministry of Ayush, celebrated individuals whose work blends professional success with a sense of public purpose. It was as much a roll call of achievement as it was a reminder that influence is not measured only in profits or podiums, but in people reached and lives improved.
Among the headline awardees was Alakh Pandey, founder and chief executive of PhysicsWallah, recognised for turning affordable digital learning into a mass movement. On the sporting front, Arjuna Awardee and kabaddi player Sakshi Puniya was honoured for her contribution to the game and for pushing women’s participation onto bigger stages.
The cultural spotlight fell on veteran lyricist and poet Santosh Anand, whose songs have echoed across generations of Hindi cinema. At 97, Anand accepted the honour with characteristic humility, reflecting on a life shaped by perseverance and hope.
Healthcare honours spanned both modern and traditional systems. Manoj N. Nesari was recognised for strengthening Ayurveda’s place in national and global health frameworks. Padma shri Mohammed Abdul Waheed was honoured for his research-backed work in Unani medicine, while padma shri Mohsin Wali received recognition for his long-standing contribution to patient-centred care.
Education and social development also featured prominently. Padma shri Zahir Ishaq Kazi was honoured for decades of work in education, while former Meghalaya superintendent of Police T. C. Chacko was recognised for public service. Goonj founder Anshu Gupta received an award for his dignity-centred rural development initiatives, and the Hunar Shakti Foundation was honoured for empowering women and young girls through skill development.
The Lifetime Achievement Award went to former IAS officer Shailaja Chandra for her long career in public healthcare and governance, particularly in the traditional systems under Ayush.
Speaking at the event, Hamdard chairman Abdul Majeed said the awards were a tribute to those who combine excellence with empathy. “These awardees reflect Hakeem Sahib’s belief that healthcare, education and public service must ultimately serve humanity,” he said.
Minister Seth struck a forward-looking note, saying India’s young population gives the country a unique opportunity to become a global destination for learning, health and wellness by 2047.
The ceremony also featured the trailer launch of Unani Ki Kahaani, an upcoming documentary starring actor Jim Sarbh, set to premiere on Discovery on 11 February.
Instituted in memory of Unani scholar and educationist Hakeem Abdul Hameed, the awards have grown into a national platform that celebrates those building a more inclusive and resilient India. For one evening at least, the spotlight was not just on success, but on service with substance.
