Russian entertainment market forecast to grow 10 percent annually

14:03, June 17, 2010      

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Entertainment will be a sector in Russia that enjoys annual growth of as much as 9.3 percent over the next five years, PricewaterhouseCoopers forecasts.

The fastest growth in the sector will be in video games, cable television, Internet access and online advertisement, the international consulting firm predicted.

Russia's "culture vultures" have followed the world trend of switching to the Internet and to digital media, the Novye Izvestia newspaper reported.

The country's entertainment market was estimated to be worth 16.38 billion U.S. dollars in 2009. By 2014, the market will expand to 25.58 billion dollars, according to experts.

In 2009, Russia ranked seventh among countries in Eastern Europe, the Middle East and Africa in terms of Internet accessibility.

A total of 2.9 billion dollars were spent by Russian Internet users last year despite the ongoing global economic slowdown.


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