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Breaking News
China soon Asia's biggest media and entertainment marketPosted by Jeremy Goldkorn on Friday, June 24, 2005 at 11:26 AM
The Standard: China to top Asia entertainment league Excerpt: "China's entertainment and media industries will see a 25.2 percent compound annual growth rate through 2009, and surpass Japan to become No1 in Asia in ½ 18 months, global accounting firm PricewaterhouseCoopers forecasts. Growth rate of the entertainment and media industries in Hong Kong will be 9.2 percent this year, and then slow to an annual rate of 6.8 percent through 2009, it said. ``In 18 months, China will be a bigger entertainment and media market than Japan, and all of us know how much we look to Japan in this spectrum,'' said Marcel Fenez, PwC Asia Pacific Leader of entertainment and media practice. China's growth will largely be fueled by increases in pay-TV services and Internet advertising. Fenez said as disposable income increases, so will demand for premium TV services. PwC forecasts also include casinos, which are expected to grow at a 15.9 percent annual rate throughout Asia. Fenez said Macau is expected to lead the pack, with a 21.8 percent compounded annual growth rate. Hong Kong's music industry will continue to suffer as one of the only entertainment segments in Asia showing negative growth through 2009." |
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