China will stay the world’s second-largest mass media and entertainment market with income likely to reach US$435 billion by 2023, Deloitte’s global entertainment and press outlook says.
At that time, digital income is likely to take into account three-quarters of the full total income of entertainment and mass media industries in China, from around 70 percent in 2018 up.
“Heavy investment in the 5G network changes Internet intake patterns and raise the market talk about of video loading,” said Deloitte global head for telecom, technology and press sectors Wilson Chow.
Advertising on the internet will grow by around 14 percent every year for another five years to US$109 billion.
The share of mobile advertising shall reach 68 percent, from around 52 percent this past year up.
Digital reality and on-demand video streaming are anticipated to post the best annual growth, at 35.9 percent and 20.5 percent, respectively, because of 5G.
China’s eSports market is forecast to overtake the South Korean as the next largest market by 2020 and can remain the quickest growing sector in the video gaming industry with an annual increase of 7.3 percent.
Baidu’s online loading affiliate marketer iQiyi, Tencent Video and Alibaba’s Youku Tudou will be the dominant loading players occupying a combined 70 percent of the marketplace.
“Competition among leading players in the video loading sector will intensify as they focus on subscription users and investment in superior content,” commented Deloitte China mass media and entertainment partner Jane Kong.
China is likely to end up being the world’s largest container office by 2020 with a complete income of US$15.5 billion by 2023.