MI2N
Music Industry News Network
WEDNESDAY, SEPTEMBER 20TH
Advanced Search
MusicDish Advertising Network
HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Business News (more headlines) 12-02-2012

China Media And Entertainment Industry Continues To Experience Exponential Growth As Consumer Spending Rises And Technologies Converge

Bookmark and Share
The staggering economic growth-rate of mainland China has created unprecedented opportunities for Chinese and global media and entertainment companies, according to Spotlight on China, a report released by Ernst & Young, to coincide with its Media & Entertainment Emerging Markets Executive Forum being held in Shanghai. With China's latest Five-Year Plan moving the economy closer towards consumption-led growth, the media and entertainment business is facing new opportunities and challenges, as it markets its products and services to the 1.3 billion people that make up the most populated country in the world.

According to the report the compound annual growth rate for China's media and entertainment industry between 2010 and 2015 is estimated to be 17%, which is significantly higher than the overall forecasted economic growth of the country. China is currently the second-largest film market in the world after the US and is expected to exceed the US box office by 2020. China is the largest internet market in the world and digital entertainment continues to grow exponentially.

David McGregor, Asia-Pacific Media & Entertainment Leader for Ernst & Young, says, "The largest media and entertainment companies in the world certainly understand that their global strategy has to have China front and center. Between the impact of digital adoption and the government of China easing regulatory restrictions, both foreign and domestic media and entertainment companies are in a position to make new inroads into this extremely promising market."

Spotlight on China identifies several trends driving growth in China's media and entertainment economy, including an increasing disposable income among consumers; the convergence of networks, devices and content; the digitization of distribution infrastructure; advertising expansion; growth of second-tier cities; emerging business models and regulatory reform.

It also highlights the challenges facing media and entertainment companies doing business in China, including changing consumer preferences in a diverse marketplace, an evolving and highly competitive digital landscape, price sensitivity, intellectual property rights infringement and government control and regulatory restrictions.

Through conversations with leading media and entertainment companies, the report identified four key factors and associated best practices critical to success in China. These are building a strong brand, succeeding in digital, forming and operating successful partnerships and navigating the regulatory landscape.

"The challenges for media and entertainment companies to penetrate China are still considerable, however the vast potential of the market makes it impossible to ignore," says John Nendick, Global Media & Entertainment Leader for Ernst & Young. "Companies will need to understand that investing in China is a long-term proposition, and those who can make that commitment will be in a much better position to succeed."

Media and entertainment companies are also advised to make cultural influences a key factor in their business strategies for China. "Companies cannot underestimate the importance of culture in China," said Peter YF Chan, Greater China Media & Entertainment Leader for Ernst & Young. "An understanding of the cultural nuances across geography, age and income level is necessary to win the loyalty of Chinese consumers."

Bookmark and Share

back | top



MusicDish Advertising Network

Mi2N Music PR

Wreckshop Nation Releases Big Moe 4 Ever, A Tribute Documentary To A Legendary Southern Hip Hop Artist

Roger D'Arcy Releases New Album 'House Of Heads'

Hybrid Studios Announces Online Mastering Services

Music Entrepreneur Mia A. Irizarry Launches TrendCulprit's "Music As A Business Telesummit" Featuring Renowned Industry Specialists

Iggy Azalea, The Kills, TV On The Radio & The Legendary Wu Tang Clan Confirmed For 1St Off Weekend Festival

Strange Loops Releases Debut EP, New Era

Roger D'arcy Release 'Ordinary Man' As The First Track From His New Album The House Of Heads On August 24



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» GoDigital Media Group Completes 20mm Series B Funding For Cinq Music
» Roland Virtual Sonics & Sony Pictures Post Production Services Collaborate On Development Of RAINLINK™ Virtual Music Application
» Warner Music Group Acquires Selected Songkick Assets
» Reach Records Announces The Launch Of New Video Series The Vault
» Musicians Support CLASSICS Act
» Rani Hancock Named President Of Sire Records
» Viberate Will Enable Musicians To Charge For Their Performances In Cryptocurrencies
» Submissions Open For The Music Producers Guild Awards 2018
» Suburban Symphony Release Debut Single "Stepping Stones" On Hilltown Records
» Missing Link Music Signs Jazz Icon Najee


Get your music news covered...
Have your press release written
by the pros at Mi2N

Articles
MUSICDISH E-JOURNAL
» Youbloom Announces 2017 LA Music Festival
» TrendCulprit's "Music As A Business" Telesummit
» Audiofile Engineering Under New Ownership
» Songwriters Join BMG's Tech Team To Create New Royalties App
» What's Next In Music? Focuses On China
» Because Acquires Majority Of Former London Records Catalogue
» BMG Expands In Canada To Build Its Records Business
» Live Nation Responds To Growing Demand For Electronic Music In Asia With New Business Unit
» Streaming Music Services Help UK Entertainment Double Its Growth Rate
» Paul Rosenberg Named CEO Of Def Jam Recordings
» PPL And PRS For Music Launch Music Recognition Technology Pilot
» Discogs Releases 2017 Mid-Year Marketplace Analysis Nielsen Vs. Discogs - Database Highlights

Mi2N's Music PR distribution service guarantees online exposure for your press release. Choose from seven (7) different packages.


HOME | FREE NEWS SUBMISSION | PREMIUM PR DISTRIBUTION | PR COPYWRITING | RSS FEEDS | TESTIMONIALS | CONTACT

Sections: Band | Business | Career | Events | Label | Music Releases | Radio | Tech | Video | Web Events
Genres: Country/Folk | Dance/Electronica | Jazz/Blues | Latin | Rock | Urban | World
International: Asia | Canada | Europe

Advertise | Artist Development | Submit Video | MusicDish*China | MusicDish e-Journal | MusicDish Network | Urban Music News Network
Copyright © 1997-2017 MusicDish LLC, all rights reserved. Text, graphics, and HTML code are protected by US and International Copyright Laws, and may not be copied, reprinted, published, translated, hosted, or otherwise distributed by any means without explicit permission.