The $1 trillion consumer market approaches

media statistics

The Hollyood Reporter notes that consumer spending on the media is advancing at a 6.7% annual growth rate, so at that rate total spending will exceed $1 trillion in 2008. "The data comes from the Communications Industry Forecast by Veronis Suhler Stevenson, and the group also says that in 2009, the average consumer will spend 10 hours per day with media, much of it DVDs and the Internet." Advertising isn't hurting either. It's predicted to grow "at a steady 6.1% this year and 6.8% through 2009 to $260.9 billion, 'driven primarily by the migration of advertising dollars from traditional to new media,' according to the study."