Media, Communications to Outgrow U.S. Economy Through 2014, Veronis Says

Spending on media and communications will increase faster than the U.S. economy through 2014 as consumers recover from the recession and shift more attention to the Internet and mobile devices, one researcher says.

The media and communications industry will grow an average of 6.1 percent annually from 2009 to 2014 to $1.42 trillion, compared with the expected 5.8 percent gain in nominal U.S. gross domestic product, according to the forecast from Veronis Suhler Stevenson, a U.S. private-equity firm focused on media. As the economy gradually bounces back, U.S. media and communications spending will recover from a recession-induced advertising dip and gain 3.5 percent in 2010, according to the forecast. In the next four years, industry growth will be driven by new mobile services and applications that let people watch or listen to what they want whenever they want.