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Mother Russia: Land of the Midnight Fun

News, 15 July 2005

The vast nation of Russia is not historically famed for fun.

Ivan the Terrible, Catherine the Great and Uncle Joe Stalin may well have loved partying - but these days are remembered for other, less loveable, character traits.

But, hey Tovaritch, it's time to shed that dour wintry image and break out the party-poppers. PricewaterhouseCoopers, no less, has identified Russia as the fastest-growing entertainment and media market in Europe.

The E&M market, which includes film, video, internet products, print media, sporting events and theme parks surged by 27.4% to $12.45 billion (€10.3bn; £7.09bn) in Russia last year, according to PwC's new report on the sector.

Even so, the fun-loving Russkis were eclipsed by the Brits, Europe's biggest spenders in the E&M sector, who parked their brollies along with their inhibitions and let down their hair in a $74bn orgy of jollification.

Elsewhere on the globe, Japan's $92 billion market topped the Asia Pacific region, while in the People's Paradise of China, the business blossomed 30.6%.

But stand aside all you hoedowners, when it comes to a mega-bash Uncle Sam is the Daddy. The USA dwarfed all contenders with its $525bn entertainment market, accounting for nearly half of the global $1.3 trillion market.

Data sourced from International Herald Tribune Online; additional content by WARC staff