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Games spending to top music this year

Global spending on videogames is set to outpace the music sector this year, according to new research by Pricewaterhouse Coopers.

Global spending on videogames is set to outpace the music sector this year, according to new research by Pricewaterhouse Coopers.

The videogame market is expected to grow above the average rates of other entertainment industries until at least 2011, fuelled by new consoles, wireless gaming, in-game ads and online play.

As detailed by The Hollywood Reporter, Pricewaterhouse Cooper predicts the gaming market to be worth USD 48.9 billion by 2011 (EUR 36.4 bn) with a growth rate of 9.1 per cent, compared to the entire entertainment market growing by 6.4 per cent annually, over the same period.

However, the firm's analysis does not include consumer spending on hardware and accessories, only on software.

"Videogaming is one of the most exciting stories in terms of pure growth numbers," commented Marcel Fenez, global managing partner at Pricewaterhouse Coopers.

The Asia Pacific region will see the highest overall spending, expected to reach 18.8 billion (EUR 14 bn), or compound annual gains of 10 per cent, by 2011.

The EMEA regions are expected to see gains of 10.2 per cent and the US gains of 6.7 per cent, or 12.5 billion (EUR 9.3 bn) during the same period.

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Matt Martin

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Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.