PwC: Romanian entertainment and media industry expected to grow 3.6% this year above pre-crisis peak
The entertainment and media industry in Romania will grow by 8.1% year-on-year this year to reach 2.62 billion euros, which will bring the market 3.6% above the pre-peak peak. crisis observed in 2019, according to the 22nd edition of PwC Global. Entertainment and Media Outlook 2021-2025 (GEMO) report.
Estimates also show that the industry will continue to grow through 2025, with an average annual growth rate of 7.68%.
“Revenues from the E&M industry in Romania fell 4.23% last year, due to restrictions linked to the pandemic, with cinemas most affected. Although the uncertainty experienced over the past 18 months is not complete, the revenue estimates for the coming years are encouraging, especially given the steadily increasing consumption of digital platforms, ”says Florin Deaconescu, Partner and Industry Leader at PwC Technology, Media and Telecommunications Romania.
Regionally, the Romanian media and entertainment industry recorded the smallest decline of all the Central and Eastern European markets included in the report last year. For example, Hungary decreased by 6.03%, Poland by 5.92% and the Czech Republic by 4.94%.
(Photo source: Dreamstime.com)