Although China’s overall economy may have some slowing growth, China’s media economy will continue to climb at double-digit percentages in the near term.
According to Stamford,
Conn.-based PQ Media, China’s media and technology spending will rise 13.2% to $256 billion in fiscal year 2014. The year before, it had climbed to 18% over 2012. Although China’s overall
economy decelerated to an 8% growth rate, it was better than 13 of the 15 top economies -- including that of the U.S.
Traditional media revenue and technology spending is projected to grow
at a 9.5% rate in 2014. This is after a 10.7% increase in 2013, totaling $83.24 billion. Projections are it will get to $116.3 billion by 2017.
China’s digital media spending grew 21%
in 2013 to $17.53 billion -- expecting to more than double in three years to $38.1 billion. In 2014, projections are that digital media spending will grow nearly 15%. In four years, digital and
alternative media will represent 37.5% of all total advertising and marketing spending in China.
Estimates are the consumer spending on digital media content and technology -- including
digital content players, OTT services, VOD services -- climbed nearly 18% in 2013 to $155.7 billion, rising to $232.3 billion in 2017.