Video games and e-Sports
China’s video games and e-Sports industry is projected to grow at 9.7 percent with 32 billion U.S. dollars in profits by 2022.
“For the sub-segment e-Sports, the U.S. is projected to take the lead over the next five years. However, e-Sports growth is projected to remain strongest in China at 23.7 percent,” the report said. “China will overtake South Korea by 2021 and be the second largest.”
The U.S., China, Japan and South Korea dominate the video games market and will represent 59% of the market share by 2022. E-Sports total global revenues will be 1.6 billion U.S. dollars in 2022. Large markets without a tradition of gaming (China, India, and Russia) will account for 41 percent of social/casual gaming revenue growth.
Cinema
China has overtaken the U.S. and now has the largest cinema box office market in the world and analysts are predicting continued growth.
Historically, cinema has been considered one of the most affordable forms of mass entertainment, but admission prices are rising every year.
“Raising ticket prices have sustained high revenues in cinema,” the report said. “Exhibitors are facing criticism for pricing films too high.”
However, ticket prices are still considerably lower in China than in the U.S.. Since 2013 the average cinema ticket price in China has only risen 0.3 percent according to the PwC report.
Music, radio, and podcast
China’s markets for fee-based music and other content are also on a fast track thanks to the strengthened protection of intellectual property.
Digital recorded music segment sales in the country will spike nearly 19 percent by 2022 with profits hitting 811 million U.S. dollars.
“Subscription-based music-streaming services are growing in developed markets as consumers’ desire for content ownership wanes and smartphone penetration increases,” the report said.
