Robust growth for media, entertainment
Print Edition
China鈥檚 media and entertainment sector will see a 10.5 percent annual growth in expenditure and income between 2015 and 2019, more than double the global average level, according to a latest study.
The total amount of spending will rise to US$2.35 billion in 2019 from US$1.43 billion in 2014, the study showed.
In contrast, the global revenue in the entertainment and media sector will rise at a compound annual growth rate of 5.1 percent over the coming five years, from US$1.74 trillion in 2014 to US$2.23 trillion in 2019, PricewaterhouseCoopers鈥 Global Entertainment and Media Outlook report said yesterday.
The report is a five-year forecast of consumer and advertising spending in 13 industry segments in 54 countries and regions.
Total Internet advertising revenue is set to grow at a compound annual rate of 15.1 percent to hit US$33.55 billion by 2019.
鈥淚nternet advertising ... is set to continue to grow to contribute 48 percent of total advertising expenditure in 2019, compared with 39 percent in 2014,鈥 PwC China Entertainment and Media partner William Lam said in a statement.
China鈥檚 film entertainment revenue, including box office, cinema advertising and home video expenditure, is set to grow at an estimated compound annual growth rate of 14.5 percent through 2019. The market is set to be worth US$9.96 billion by 2019, almost double the revenue of US$5.07 billion in 2014.
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