IBISWorld predicts video and DVD hire outlets will be affected by significant competition from pay TV, the internet and new online entrants to the market, such as streaming services. This will negatively affect growth, with revenue predicted to fall by 14.8% in 2014 to $534.2 million.
Other retailers of DVDs and videos, such as speciality technology and department stores, will continue to channel revenue away from the industry into growth sectors servicing trends in the digital space.
Traditional video and DVD hire from rental outlets has been on a significant declining trend for some time. Improvements in technology will continue to make it easier and cheaper for end users to purchase movies and other media over the internet.
Revenue for the sugarcane industry has been negatively affected by adverse growing conditions, particularly those attributable to extreme weather patterns over the past five years. IBISWorld predicts that industry revenue will slump by 11.4% in 2014 to $1.1 billion.
Volatile fluctuating prices and global production had intensified industry revenue volatility.
The high Australian dollar reduced the industry’s international competitiveness and choked export markets in developing countries and established partner nations.
IBISWorld forecasts that the mineral exploration industry will contract by 7.7% over 2014 for the mineral exploration sector in Australia, with the industry affected by increasing global mineral output and a slowing Chinese economy.
These adverse global conditions have suppressed world prices for the major commodity groups upon which the exploration industry depends.
The fall in investment in exploration also follows established miners shifting their focus from exploration to production.
Consistent with expectations and the long-term trend, readership of print publications will continue to decline as consumers turn to alternative news and information sources, particularly the internet. IBISWorld predicts that in 2014 the industry’s revenue will fall by 6.3% to $4.0 billion.
The industry, which services the domestic market, is facing higher competition from overseas mastheads, particularly from Fleet Street and the American press, which offer both global and domestic perspectives.
IBISWorld forecasts that the horse and dog racing industry will slump 3.7% to generate revenue of $1.6 billion in 2014.
Tightening government regulations and restrictions have resulted in fewer quality horse imports into Australia, negatively affecting betting revenue and attendance figures. Coupled with unfavourable red tape, interest in racing events by Australian consumers is also in decline, making the current and medium-term environment challenging for the sector.
Falling attendance by regular racegoers is further hampering the industry. Groups like Tabcorp offer convenient gambling to the public, but the proliferation of corporate bookmaker services available online and on smartphones is leading to drops in attendances, which is further stifling the industry.
As wagering revenue has moved away from previously state-owned TABs, racing authorities have been unable to gain complete access to all industry-related betting activity and this has further reduced revenue.
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