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China's Media, Tech Spend to Rocket 13 per cent

11 Apr 2014

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 per cent to $256 billion in fiscal year 2014. The year before, it had climbed to 18 per cent over 2012. Although China's overall economy decelerated to an 8 per cent 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 per cent rate in 2014. This is after a 10.7 per cent increase in 2013, totalling $83.24 billion. Projections are it will get to $116.3 billion by 2017.


China's digital media spending grew 21 per cent 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 per cent In four years, digital and alternative media will represent 37.5 per cent 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 per cent in 2013 to $155.7 billion, rising to $232.3 billion in 201

 

Source: Mediapost

 



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