PwC Study: Global Media Entertainment revenues to sink 5.6% in 2020
Author: Wayne Friedman
Publication: MediaPost
Global media and entertainment revenue will sink 5.6% from 2019 ($120 billion) to $2.02 trillion in 2020 from the year before, according to PricewaterhouseCoopers (PwC), due to the COVID-19 pandemic.
The 5.6% rate would be nearly double the percentage decline the last time the global economy shrank in 2009 during the Great Recession, when there was a 3.0% drop.
