By Erik Crouch
“Every global strategy needs to include China,” says Ernst & Young consultant’s new release on global media. The report predicts that China’s Media and Entertainment market will grow 17% annually until 2015-especially in the film sector-and will out-value the US box office by 2020.
The analysis cites growing levels of disposable income and increased access to digital infrastructure as essential to China’s media boom. The usual risks are mentioned as well, with rampant intellectual property infringement and unpredictable government regulation leading the pack. The latter has reared its head recently with the government’s delay of Skyfall until next year, and the Ernst & Young report emphasizes that “navigating regulations is critical to success.”