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Entertainment and media spending forecast to increase
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CHINA'S overall spending in the entertainment and media sector is set to grow at an annual compound rate of 10.9 percent through 2018 and reach US$213.6 billion, while advertising spending growth will be higher at 11.9 percent, a report found.
By 2018, 55 percent of total advertising revenue is forecast to be digital, driven by the potential of China's increasingly wealthy and web-connected middle class, PricewaterhouseCoopers said in its Entertainment and Media Outlook (2014-2018) today.
The outlook also shows that China would overtake Japan as the world's second largest entertainment and media market behind the US in 2016.
In terms of advertising spending, newspapers will see the biggest decline.
Only 16 percent of total ad expenditure will go to newspapers by 2018 compared to 20 percent last year.
Consumer spending on Internet access will see 13.7 percent annual compound growth, and spending on mobile Internet access will take over fixed-line expenditure this year, the report said. The number of mobile Internet subscribers will nearly double to 918 million in 2018 from 532 million in 2013, it said.
Mobile Internet penetration is expected to reach 65 percent by 2018, with an annual compound growth rate of 17.7 percent.
China's Internet advertising spending is expected to reach US$30.6 billion by 2018, representing 47.3 percent of total ad expenditure.
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