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19 Jun, 2008 03:54

That’s entertainment: Russian sector among world’s biggest

The entertainment market in Russia is becoming one of the biggest in the world, according to PricewaterhouseCoopers.

Recent research carried out by the leading accountants indicated that the market grew by 12% in 2007.

The company forecasts it will increase at around the same level in 2008.

The leading sector remains the internet – where the growth of advertising in the next five years is expected to hit 43%.

As for casinos, the most lucrative entertainment sector, the market was worth $US 4.6 billion in 2007.

Another leader in the industry is the film industry, it was valued at $US 1.1 billion. Its average annual growth is estimated at 12%, thanks to an increase in the number of new cinemas, and the purchase of foreign and domestic films.