Growth set to be solid for E&M

Source: Xinhua | 2018-06-07

China’s entertainment and media industries will continue to growth robustly in the next five years, a private report said.

Global accounting firm PwC yesterday predicted in a report that the combined E&M revenue would expand at a compound annual growth rate of 7.2 percent from this year until 2022 to US$343 billion.

The growth pace is substantially above the 4.4 percent global average.

Internet video, online advertising and video games will lead the trend, with projected growth of 16.3 percent, 11.8 percent and 9.7 percent, respectively. The film industry will also see vigorous expansion.

The report said the Internet would continue to serve as a major driving force for the E&M industries due to mobile networks and evolving digital technology.

“Chinese markets will continue to see enormous gains in Internet videos,” PwC partner Wilson Chow said.