Media - China

China

In China, revenue in the Media market is projected to reach €269.10bn in 2024.
The largest market within this market in China is Games, which is anticipated to have a market volume of €114.60bn in 2024.
In a global context, the most revenue will be generated the United States, with figures amounting to €501.80bn in 2024.
Furthermore, in the Media market of China, it is expected that 63.62% of total revenues will be generated through digital Media market by 2029.
In China, the media industry is increasingly dominated by digital platforms, reflecting a significant shift in consumer preferences and content consumption habits.

Key regions: United States, China, Japan, United Kingdom, Germany

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Analyst Opinion

The Media market in China has been experiencing significant growth in recent years, driven by changing customer preferences and local special circumstances.

Customer preferences: Chinese consumers have shown a strong preference for digital media, with online platforms becoming increasingly popular for accessing news, entertainment, and social media. This shift in consumer behavior has led to a rise in digital advertising spending, as advertisers seek to reach the growing online audience. Additionally, there has been a surge in demand for streaming services, as consumers embrace the convenience and variety offered by online video platforms.

Trends in the market: One of the key trends in the media market in China is the rise of mobile internet usage. With the widespread adoption of smartphones, more and more Chinese consumers are accessing media content on their mobile devices. This has led to the growth of mobile advertising, as advertisers seek to target the large and engaged mobile audience. Furthermore, the popularity of short-video platforms has skyrocketed, with users spending significant amounts of time watching and sharing short videos on their mobile phones. This trend has created new opportunities for content creators and advertisers alike. Another trend in the media market is the increasing importance of content localization. Chinese consumers have shown a preference for content that is tailored to their cultural and linguistic needs. As a result, international media companies are investing in local content production and partnerships with Chinese companies to cater to this demand. This trend has also given rise to the popularity of Chinese celebrities and influencers, who have become key figures in promoting and endorsing products and services.

Local special circumstances: China's media market is heavily regulated by the government, with strict censorship and content restrictions in place. This has created unique challenges and opportunities for both domestic and international media companies operating in the country. Domestic companies have an advantage in navigating the regulatory environment and understanding the cultural nuances of the Chinese market. On the other hand, international companies must comply with Chinese regulations and adapt their content to meet local standards.

Underlying macroeconomic factors: China's rapid economic growth and rising middle class have contributed to the expansion of the media market. As incomes increase, consumers have more disposable income to spend on media and entertainment. Additionally, the government's push for innovation and technological advancement has fueled the growth of the digital media sector. Investments in infrastructure and internet connectivity have made it easier for consumers to access media content online. In conclusion, the media market in China is evolving rapidly, driven by changing customer preferences, local special circumstances, and underlying macroeconomic factors. The shift towards digital media, the rise of mobile internet usage, and the importance of content localization are key trends shaping the market. The government's regulatory environment and China's economic growth are also significant factors influencing the development of the media market in the country.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.