Romanian media & entertainment industry to reach USD 3 billion threshold in 2019

The media and entertainment industry in Romania will reach the USD 3 billion threshold in 2019, growing by 7.1 percent compared to 2018, but will remain the smallest market in Central and Eastern Europe (CEE), according to the 20th edition of the PwC Global Entertainment & Media Outlook 2019-2023 (GEMO). By 2023, the study shows an estimated annual growth rate of over 6 percent, with the market value rising to USD 3.8 billion.“Following the global trend, personalization and digitization are increasingly adopted on the Romanian media and entertainment market, with estimates indicating that the highest growth rate. will be on this segment by 2023. This will lead to a more aggressive competition and a wave of investment in innovation. The result will be a media world that is 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 homes or connected cars,” said Florin Deaconescu, Partner and Leader of the Technology, Media and Telecom department, PwC Romania.