PwC: China to Have World’s Biggest Film Market by 2025

China Daily via Asia News Network

12:50 JST, July 27, 2023

China’s film market, once affected by the COVID-19 pandemic, will rally in 2023, and take the lead in the world by 2025, according to a report released by global auditing and consultancy firm PwC on July 13.

In 2027, the country’s movie box office revenue could hit $13.2 billion, accounting for 27% of the global market, according to the report titled Global Entertainment and Media Outlook 2023-2027.

The report also estimated that the total revenue of China’s entertainment and media industry will reach approximately $479.9 billion by 2027, and the compound annual growth rate over the next five years will stand at 6.1%, higher than the global rate of 3.5%.

By 2027, the size of China’s internet advertising market will reach $146.4 billion, with a compound annual growth rate of 9%, according to PwC.

China has already become the biggest video games and electronic sports market in the world, said the PwC, adding that the income of the industry will reach $115.5 billion in 2027.