UK media market predicted to top £84 billion by 2010

According to a new report - UK Mediaphile 2010 - published by media analysts Screen Digest, in conjunction with ABN Amro, the UK media market could be worth £84.26 billion by 2010.
British consumers are spending more time and money on media than ever before – although the report suggests that the winners will be electronic and online media, whilst the losers will be printed media.
Screen Digest/ABN Amro estimate that the total market for all forms of media by 2010 will be £56.2 billion but could reach £84.26 billion if, according to the report's authors, "new media opportunities can be fully exploited and technological innovations create new forms of media".
The media market has changed significantly in recent years. In 1985, the total market for all forms of media was £7 billion, of which 48 per cent was spent on the printed form and 23 per cent was on electronic hardware. By 2010, this is predicted to reverse as printed matter may represent just 15.8 per cent of the market.
At the moment, the average Briton spends 53 hours per week consuming media, but this is expected to increase to 60.2 hours by the end of the decade.
Co-author Ben Keen said: "One of the important messages of this report is that there is still significant scope for fresh new media growth. Whether it be 3G wireless, interactive TV, broadband, or some novel media product or service, the challenge for the industry is to deliver sufficiently compelling experiences that persuade the British public to keep parting with their money."
The report contains 300 pages of text and 125 charts and tables. It features 10 different sectoral analyses and assesses the competitive outlook for businesses within the underlying dynamic of media/communications space.
Screen Digest is an international media news and market research journal and ABN AMRO is one of the world's largest banks with total assets of more than $500 billion and a presence in over 70 countries.
Screen Digest, www.screendigest.com
(GMcG)