The entertainment and media industry in China is poised to make significant strides in the next four years, narrowing the gap between itself and the United States. According to PWC’s latest Global Outlook, both advertising and consumer spending revenues in China are expected to surge by more than 7% to reach $362.5 billion by 2028. This growth rate is almost double that of the U.S., although the American market is still significantly larger at $808.4 billion.
PWC’s report also highlights the rapid growth expected in markets such as Indonesia and India between now and 2028. These countries are forecasted to experience substantial expansion in their entertainment and media sectors. India, in particular, is expected to become the world’s fastest-growing OTT video-streaming market, catering to its vast and diverse population, many of whom have a strong affinity for sports content, especially cricket.
One of the key points of focus in PWC’s report is the evolution of advertising revenues in the era of streaming services. The global ad revenues are projected to surpass $1 trillion within the next two years and are expected to double by 2028. This growth trajectory has led leading streaming platforms like Netflix, Disney, and Prime Video to reconsider their business models and explore new revenue streams, including advertising and measures to combat password sharing.
While the U.S. remains the largest entertainment and media market globally, the landscape is shifting rapidly with emerging economies like China, India, and Indonesia making significant strides. The competition is fierce, and companies in the industry must be adaptable and innovative to capitalize on the evolving trends and consumer preferences. As technology continues to reshape the way we consume media, the industry is poised for further disruption and transformation in the years to come.
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