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China's media and entertainment sector to grow on deeper pockets
By Ding Yining |
November 29, 2012, Thursday
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Online Edition
Online Edition
CHINA'S media and entertainment industry is estimated to record a compound annual growth rate of 17 percent through 2015 as consumer spending boomed, an industry report showed today.
Ernst & Young said in its "Spotlight on China" report released today that the increasing disposable income among consumers and the convergence of networks, devices and content will be key factors driving growth in media and entertainment sector in the coming years.
In the film industry, China has the second-largest film market in the world after the United States and is estimated to surpass the US box office by 2020.
"At the same time, there are still considerable challenges for media and entertainment companies to penetrate China," said John Nendick, global Media & Entertainment Leader for Ernst & Young.
The firm suggested four key factors that are critical for media and entertainment companies to succeed in China -- building a strong brand, succeeding in digital, forming partnerships and navigating the regulatory landscape.
Ernst & Young said in its "Spotlight on China" report released today that the increasing disposable income among consumers and the convergence of networks, devices and content will be key factors driving growth in media and entertainment sector in the coming years.
In the film industry, China has the second-largest film market in the world after the United States and is estimated to surpass the US box office by 2020.
"At the same time, there are still considerable challenges for media and entertainment companies to penetrate China," said John Nendick, global Media & Entertainment Leader for Ernst & Young.
The firm suggested four key factors that are critical for media and entertainment companies to succeed in China -- building a strong brand, succeeding in digital, forming partnerships and navigating the regulatory landscape.
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