Media Industry To Grow Faster Than U.S. Economy (CNBC)

A new report out yesterday from Veronis Suhler Stevenson forecasts spending on media and communications will outpace economic growth as consumers invest in mobile and Web access and companies pay to reach them there. Veronis projects 6.1 percent average annual growth between 2009 and 2014 for the media and communications industry, beating the 5.8 percent average annual growth rate for U.S. GDP. This year, total communications spending is on track to grow 3.5 percent. Business Wire: The shift of spending and consumption is reflected by growth not only in key industry sectors such as Business & Professional Information & Services, Targeted Media, and Entertainment & Leisure Media, which are poised to register compound annual growth rates (CAGR) of 8.2 percent, 7.3 percent and 6.3 percent, respectively, during the 2009-2014 period, but also remarkable growth in the Pure-Play Consumer Internet & Mobile Services segment, which is expected to grow at a CAGR of 14.6 percent from 2009 to 2014.

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