According to this year’s PricewaterhouseCoopers forecast on the entertainment and media industries, the media and entertainment industry will do just fine over the next few years but the digital and mobile areas are the best-bets, the report says.

Here is a sampling of forecasts from the report:

On newspapers:

In the US, by 2012, newspaper Web site advertising will account for 15
percent of total daily newspaper advertising, more than twice its 7
percent share in 2007.

As for magazines:

Global print advertising in consumer magazines will total $42.5 billion
in 2012, up 3.5 percent on a compound annual basis from $35.8 billion
in 2007.

Internet advertising: wired and mobile:

In Canada, the wired Internet advertising market will expand by 19.8
percent compounded annually, from $1.2 billion in 2007 to $3.1 billion
in 2012.

And television advertising:

In Canada, new high definition channels are crowding out specialty channels and cutting into specialty advertising growth.

Vancouver Sun managing editor and J-Source contributing editor Kirk LaPointe writes here about the report. And The New York Times reports on the PwC forecast here and the Toronto Star‘s story is here.