Russian media market to grow to $39 bn by 2016

June 14th, 2012 - 9:37 pm ICT by IANS  

Moscow, June 14 (IANS/RIA Novosti) Russia’s entertainment and media market will grow to $39 billion by 2016, with consumer spending in the sector to grow at an average annual rate of 36 percent in 2012-2016, according to a report presented by auditor PricewaterhouseCoopers (PwC) Thursday.

Russia will turn into the sixth largest entertainment and media market in the EMEA (Europe, Middle East and Africa) region by 2016, PwC partner Yevgeny Klimenko said.

Russia’s entertainment and media market grew by 21 percent year-on-year in 2011 to $24.1 billion.

Russia currently holds seventh place by volume of the entertainment and media market in the EMEA region and is expected to demonstrate an average yearly growth of 10.1 percent.

–IANS/RIA Novosti
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