The affluent and digitally advanced market will grow from US$162 million in 2013 to US$264 million in 2018.
Singapore market is characterized by a very high broadband penetration and many ad companies have based their Asian regional offices in Singapore. However, the country is still behind many of the longer developed mature markets in digital advertising revenues.
Total video games revenue in Singapore is forecast to grow by a CAGR of 9.0% to reach US$550million in 2018. Mobile video games revenue will reach US$223million in 2018.
While online games revenue will reach US$179million, total newspaper advertising revenue in Singapore will reach US$905mn in 2018.
"What all these markets have in common is a growing middle class boosting spending in entertainment and media," said Greg Unsworth, Technology, Media and Telecommunications Industry Leader, PwC Singapore. "But the similarities stop here. Realising the revenue potential of these markets demands a deep understanding of the local context and appropriate market segmentation."
Consistent growth in TV advertising is expected over the forecast period, with a CAGR of 3.8%, taking the total to US$456 million by 2018.
Revenue generated by the market for out-of-home advertising in Singapore has increased to US$138mn in 2013, and this market will see revenue of US$162 million in 2018.
The Digital OOH (DOOH) will grow by a CAGR of 16.5% over the forecast period and overtake traditional OOH advertising in 2017 to reach US$90 million in 2018.
Singapore's filmed entertainment sector will be worth US$386million by 2018, and box office revenue will reach US$199million in 2018.
Cinema advertising revenue will rise by a CAGR of 6.8% to US$13million in 2018, and electronic home video through-TV-subscription revenue will be US$30million in 2018.
"Singapore is uniquely placed in the region to play a greater role in supporting the growth of digital media in the region," said Unsworth. "Its advanced infrastructure, regional access to high growth markets and ability to test-bed new technologies and business models will ensure new opportunities to develop the media sector."