That’s how much Australia’s overall entertainment and media spending to grow between 2013 and 2018.
The new report by PricewaterhouseCoopers which looked at media including movies, free-to-air TV, the internet and subscription television, found that by 2018, subscription TV will be in 48% of households, up from less than 30% now.
The report follows comments made by the chief regulatory officer of internet service provider iiNet, Steve Dalby’s, who last week said pay TV operator Foxtel was “on borrowed time”.
Despite disagreeing with Dalby’s view Megan Brownlow, the report’s editor, did say if the economy was to slump, cinema and subscription television would gain.
“Because the economic cycles often create a cocooning behaviour, subscription TV will be well placed in the next five years because of all the new, much cheaper IPTV products coming into the market,” Brownlow said.
Read more here.
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