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China’s Entertainment Industry Set To Grow At Double The Rate Of U.S. Over Next Four Years – Report
PWC Global Outlook: China's media and entertainment industry is set to grow at double the rate of the U.S. by 2028.
China’s entertainment industry has been expanding in recent years and PWC said its “continued strong growth means it’s steadily closing the gap on the U.S. in terms of market size, although tight government regulation can make investing there more complex than in other territories.” It pointed to a “plateauing effect” that has “pushed leading streamers such as Netflix, Disney and Prime Video to reshape their business models and find new revenue streams,” including ads and crackdowns on password sharing. “The big three Western global players in the streaming sector—Disney+, Netflix and Amazon Prime Video—all rolled out ad-funded ‘hybrid tier’ offerings, in which consumers agree to view ads in return for paying a lower subscription fee,” said the report.
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