Australian publishers' group NewsMediaWorks has questioned the accuracy of PwC's print advertising forecasts for 2019-2023.
The Australian Entertainment & Media Outlook's "underlying and unexplained pessimism" could negatively impact market sentiment in "dangerous ways", NMW says.
PwC forecasts accelerating declines in print advertising at a compound annual rate of 20 per cent, contrary to the industry's four years of lower declines from 2014-2018 of 11.5 per cent CAGR.
NewsMediaWorks chief executive Peter Miller says advertising sentiment - "a key component in the continued viability of news media" - is being negatively impacted by the gloomy print media forecasts.
He says NMW has a "firm grip on the revenue realities and prospects" of its members and has already successfully managed the transition to digital, and has strong and growing audiences across platforms. "We look forward to reviewing the current forecasts with PwC."
NewsMediaWorks' member owners are Nine Entertainment, News Corp Australia and Seven West Media's West Australian Newspapers.
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