Canada Leads Global Entertainment and Media Spending Growth

According to a report from analysts PricewaterhouseCoopers the Canadian entertainment and media industry achieved faster growth than any other global region during 2003, at a rate of 5.9%. This compares to a global average of 4.2% and a US rate of 4.3%. The report found that during the past three years, Canada averaged a growth rate of 6.2% compared with 3.4% growth for the other regions collectively. For the next five years, Canada is expected to sustain that growth with an annual compound growth rate of 5.9%, increasing from $24 billion in 2003 to $31 billion in 2008. Consumer and end user spending grew at an even faster rate of 6.2%. Video game spending jumped by 18.7% - the largest increase anywhere in the world. Growing broadband penetration also led to an 11.2% increase in Internet access spending. Source: Canada Newswire