International TV Co-Editor
PwC's Lyn sees China listing more state-owned companies: video
According to PWC's latest Global Outlook, China's entertainment and media industry is set to catch up with the US over the next four years.
According to the report, advertising and consumer spending revenues in the world’s second-largest country will rise more than 7% to $362.5 billion in 2028, nearly twice as fast as U.S. sales. However, the U.S. industry figure will remain significantly higher, at $808.4 billion.
“The U.S., which will account for more than a third of global spending in 2023, remains the world’s largest entertainment and media market by a wide margin for combined advertising and consumer spending markets,” PWC said. “But with this size comes maturity and therefore relatively slower growth.”
