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BizReport : Research : June 22, 2007
U.S. web spending to surpass $78 billion by 2011
High-speed connections, social networking and online entertainment will drive a rise in U.S. web spending according to PricewaterhouseCoopers’ recent forecasts.
Combined spending in the U.S. for 2006 was $47.2 billion. This is expected to reach $78.4 billion by 2011, a 10.7 percent annual growth, according to PricewaterhouseCoopers’ ‘Global Entertainment and Media Outlook’.
Internet access alone is forecast to rise to $43 billion by 2011 as more and more consumers switch to the high-speed connections needed to enjoy entertainment online.
By 2011, the U.S. ad market, which is currently the largest in the world, is expected to grow to $35.4 billion. However, China is set to overtake the U.S. in terms of online population in the next couple of years.
"We expect that China will accelerate in use of the Internet from where they are today -- in sheer numbers (of users) they are incredible," said Joseph Rizzo, U.S. Advisory Technology Sector Leader for PricewaterhouseCoopers, via Reuters.
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