MI2N
Music Industry News Network
SUNDAY, FEBRUARY 19TH
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

David Vaters New Solo Release

Danish Singer Songwriter & Veteran Stars Win Acoustic Music Awards

MusicDish*China Presents Harper And Midwest Kind China Tour

Innovative Music Transcription Company Launches New Service

Indie LGBT Artist Craymo Wins 2nd Worldwide Music Contest In A Row, This Time For Best Video For Song Promoting Diversity, Equality And Peace, One Love One World

Jennifair "Sugar" Featuring Deion Luis (Official Video)

DigitalRadioTracker.com Launches Free Searchable Artist/Song Airplay Database



MusicDish*China Song Blast
Promote Your Music Single In China

News Headlines
Mi2N EDITOR'S PICKS
» Sound Royalties Unveils Plans To Invest $100+ Million In Songwriters, Producers And Other Music Professionals
» Nokia And Du Help Music Fans Share Videos And Pictures From Du Arena
» Universal Music Group Relaunches Polygram Entertainment To Accelerate Film And Television Strategy
» HitsMeUp Brings Music Fans Closer To Their Favorite Artists
» Pandora Reports Q4 And Full Year 2016 Financial Results
» Kevin Killen Named NYU Steinhardt Music Technology Artist-in-Residence
» Innovative Music Transcription Company Launches New Service
» Dates Announced For The Hard Work Pays Off Tour 2017
» Legendary Producer Tha 4orce And Confucius MC Present Their New Single 'More To It'
» The Legendary Voice - Patti Drew Makes Her Return


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

Articles
MUSICDISH E-JOURNAL
» Armada Night - China
» NYC's Chinese-American MC Bohan Phoenix Releases New EP 'JALA'
» Music Marketing Agency Syn Launches Beijing Office
» Warner/Chappell Production Music Promotes Aaron Gant To Senior Vice President Of Production
» World Blues & Roots Band Harper And Midwest Kind China Tour
» ASCAP Expands Asia-Pacific Strategy
» Why Do So Many Music Technology Startups Fail?
» New Report Debates Future Of Arts & Culture Ticketing
» Sino-Franco Festival Partnership: YinYang Music & Chateau Perche
» China's Leading Streaming Platform To Talk Strategy At Midem 2017
» An Open Letter To President Donald J. Trump
» The Wu-Force Self-Titled Debut EP Out For Lunar New Year

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.