Spending on games to top music this year

Money spent on videogames will outgrow the music sector this year, according to new research by Pricewaterhouse Coopers.

The detailed report, which does not include spending on hardware and accessories, claims software sales will grow above the average rates of other entertainment industries until at least 2011, fuelled by new consoles, wireless gaming, in-game ads and online play.

The global games market will be worth $48.9 billion dollars by 2011, with a growth rate of 9.1 per cent, compared to the entire entertainment sector market of just 6.4 per cent over the same period.

"Videogaming is one of the most exciting stories in terms of pure growth numbers," said Marcel Fenez, global managing partner at Pricewaterhouse Coopers.

Asia will see the highest overall spending, expected to reach $18.8 billion dollars by 2011, with the US will be worth $12.5 billion during the same period.