Consumer expenditures on entertainment media in North America and Europe grew a mighty 69 % to $234.8 billion in 2010, up from $138.8 billion in 2000, with cable and satellite television retaining its primacy as the leading form of entertainment media during the decade, according to IHS Screen Digest (NYSE: IHS) research.
Fending off competition from other segments like home video, video games, music and cinema, cable and satellite television accounted for 59 % nearly three-fifths of all entertainment media expenditures last year on the two continents, compared to 40 % 10 years ago. Revenue from cable and satellite TV in 2010 reached $139.2 billion, up from $56.1 billion in 2000, with net growth since 2000 of 148 %.
"Ten years ago, consumers in North America and Europe spent more on music than on video," said
Tony Gunnarsson, analyst for video at IHS. "However, the music segment has suffered from its failure to transition from physical to digital delivery."
Spending on music across all physical and digital formats declined 55 % in the period 2000-2010 and reached $13.9 billion last year, accounting for just 6 % of total entertainment media spending compared to 22 % a decade ago. "As a result, music is now the smallest entertainment media segment a steep fall from its previous No. 2 perch a decade ago," Gunnarsson added.
The second largest area in
