Published on : Jul 10, 2014
The radio, film, and television industry in China posted combined revenues of USD 60.1 billion or 373.5 billion yuan for the year 2013. These figures were stated in an official report released in China by the State General Administration of Press, Publication, Radio, Film and Television on Wednesday.
While the domestic media industry in China has been on the growth track, heightened export efforts seem to have paid off in the industry’s pursuit for higher profitability. A number of contracts are already in place for the export of television programs to European countries.
Revenues from advertising in the radio and television industry showed an increase of 9.19% as compared to the previous year. The revenues were reported as 138.7 billion yuan. Revenues from the box office touched a whopping 21.77 billion yuan in 2013, the report states. This marks an increase of 12.77 billion yuan in a single year. The box office revenues are the largest segment, and account for 58.65% of the market share.
In 2013, the number of domestic productions in China nearly doubled from 2012, reaching a total of 824. These domestic productions were the primary driving force towards a 4.7 billion yuan spike in ticket sales in 2013 as compared to 2012.
The report further stated that revenues from the country’s Internet-based audio-visual sector saw a surge of 41.9% from 2012, touching 12.81 billion yuan. The country is witnessing a massive rise in the number of internet subscribers, and this will likely push up revenue from Internet-based media in the coming years.