China’s media and entertainment industry is expected to grow at an annual rate of 17% in the five years leading to 2015, significantly outpacing the country’s economy overall, according to a report released today by Ernst & Young. Part of that rise is attributed to growth in the Chinese box office which is expected to surpass the U.S. to take the No. 1 spot by 2020, the report says. China has already surpassed Japan as the No. 2 movie market. With the growth, however, the study says the country will continually be faced with regulatory and piracy obstacles. “The Chinese government is taking steps to reduce piracy. However, M&E companies still struggle to get fair value for their products and services”, the report says. There are several trends driving the growth, including increasing disposable income. Spending on entertainment and recreation jumped from $350 billion in 2010 to $547 billion last year.
China Predicted To Surpass U.S. Box Office By 2020: ReportBy THE DEADLINE TEAM | Deadline.com – Wed, Nov 28, 2012 10:40 PM EST
Explore Related Content
News for You
- Original ‘Hangover’ Baby Back for Part 3
For the third and final chapter of the record-breaking R-rated “The Hangover” franchise, the original gang has been assembled for one last raucous romp. Zach Galifianakis, Bradley Cooper, Ed Helms, Ken Jeong, Heather Graham and even baby Tyler (or Carlos, … Continue reading →
- Selena Gomez Goes Without Makeup, Shows Lighter Hair Color
The "Come & Get It" singer was photographed with a fresh face and ombre locks in London on May 21
- Attorney: Donald Trump lied on stand
CHICAGO (AP) — The attorney for an 87-year-old woman who accuses Donald Trump of cheating her in a skyscraper condo deal told Chicago jurors on Wednesday that he was personally repulsed by the "Apprentice" star whom he said lied on the witness stand.
- Restaurant learns online reviews can make or break
SCOTTSDALE, Ariz. (AP) — It was the customer service disaster heard around the Internet.
- 'Fast & Furious 6' Girl Fight: Most Intense Ever?
To date, when it comes to the most intense girl-on-girl fighting in film, actresses like Uma Thurman (both "Kill Bill" movies), Pam Grier ('70s films "The Big Doll House" and "Foxy Brown"), and Sigourney Weaver (who battled the queen bee … Continue reading →