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5G to boost entertainment and media sectors

June 06, 2019 / Eleven Media Group Co

"The impact of 5G will extend to virtually every industry, and entertainment and media companies will be among the earliest to incorporate 5G into their offerings and business models," the report said.China's entertainment and media industry revenue will grow at a compound annual rate of 5.6 percent and reach $434.7 billion by 2023, remaining the world's second-largest market. Digital revenue accounted for more than 70 percent of the industry's revenue in 2018, and the rate could reach 75.4 percent by 2023, the report estimated.Over the next five years, China's absolute growth in entertainment and media will exceed that of the US for the first time. In that period, the US will add $71 billion, while China will add $84 billion, said the report.Virtual reality is the fastest-growing sector in China's media and entertainment industries, said the report. In 2018, China's VR market became the second largest in the world with revenue of $364 million. It is e...