Report says economy to dampen entertainment and media spending

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New York--While global entertainment and media spending grew 1.5% to top $1 trillion in 2001, the weak economy will continue to dampen spending for the next two years, according to PricewaterhouseCoopers in its Global Entertainment and Media Outlook report, released Tuesday. It said faster growth would resume by 2004. Internet advertising spending in particular will continue to grow by double-digit percentages to $40 billion by 2006, it predicted.
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