Media and entertainment industry in RO to reach USD 3 bln this year

The media and entertainment industry in Romania will reach the USD 3 billion threshold in 2019, up 7.1% over 2018, but remains the smallest market in Central and Eastern European (CEE), according to the 20th edition of PwC Global Entertainment & Media Outlook 2019-2023 (GEMO). By 2023, the study estimates an annual growth rate of over 6%, with the market value rising to USD 3.8 billion. Following the global trend, personalization and digitization are increasingly adopted in the Romanian media and entertainment market, with estimates indicating that the highest growth rates will be on this segment by 2023. This will lead to more aggressive competition and a wave of investment in innovation. The result will be a media world more personal than ever, in which consumers will select and control their media consumption by diverse means, whether we are talking about smart devices, Over-The-Top (OTT), smart home or connected car,” said Florin Deaconescu, partner and leader of the Technology, Media and Telecom department, PwC Romania.