The worldwide videogame software market will be worth $48.9 billion by 2011, as global games spending exceeds music spending this year, according to a new report.
Consultancy firm Pricewaterhouse Coopers (via The Hollywood Reporter) said in its latest outlook report that wireless and online games, adoption of new consoles and in-game ads will drive the growth.
The firm said that it expects a 9.1 percent compounded annual growth rate during the years leading up to 2011. That CAGR outpaces the 6.4 percent that PwC forecasts for the overall entertainment economy.
PwC projects that the size of the games market will surpass the music market next year in the U.S., and that's not taking into account hardware and accessories.