Little surprise that Veronis Suhler Stevenson, a private equity and mezzanine capital fund management company based in New York and London, is frenetically talking up the five-year growth prospects of the US media, communications and information industries.

These, after all, are the businesses in which VSS has invested a cool $7.5 billion (€6.10bn; £4.15bn) in North America and Europe over the last eighteen years - although only a cynic would suggest that this in any way affects the enthusiasm, let alone the slant, of the firm's futurology.

The Veronis haruspices have produced a new volume of media prognostications, Communications Industry Forecast, in which the firm predicts the US comms business will enjoy an average growth rate of 6.7% over the five years to December 2009.

Furthermore, by the end of that period, per capita spending on media by American consumers will bust the $1,000-per-year mark. By which happy time, the average Joe or Josephine will spend an eyewatering ten hours per day munching media, much of it DVDs and the internet

Advertising too will have cause to celebrate, growing 6.1% this year and averaging 6.8% over the next four years. The prescient moneymen say adspend will hit $260.9bn by 2009, "driven primarily by the migration of advertising dollars from traditional to new media." [VSS has a specific interest in the latter sector, via its controlling interest in]

But despite the overall growth of advertising, the general public will consume less ad-based media while devouring more subscription-funded channels. The latter stood at 36.4% in 1999 and will be in the region of 45.9% by 2009.

The VSS forecast defines ad-based media as broadcast television and radio, satellite radio, newspapers and magazines. Subscription-based media include cable and satellite TV, film, home video, interactive TV, recorded music, video games, internet and books.

Data sourced from AdWeek (USA); additional content by WARC staff