China to have world's biggest film market by 2025: PwC

BEIJING -- China's film market, once affected by the COVID-19 pandemic, will rally in 2023, and take the lead in the world by 2025, according to a report released by global auditing and consultancy firm PwC on Thursday.

In 2027, the country's movie box office revenue could hit $13.2 billion, accounting for 27 percent of the global market, said the report titled Global Entertainment and Media Outlook 2023-2027.

The report also estimated that the total revenue of China's entertainment and media industry will reach approximately $479.9 billion by 2027, and the compound annual growth rate over the next five years will stand at 6.1 percent, higher than the global rate of 3.5 percent.

By 2027, the size of China's internet advertising market will reach $146.4 billion, with a compound annual growth rate of 9 percent, according to PwC.

China has already become the biggest video games and electronic sports market in the world, said the PwC, adding that the income of the industry will reach $115.5 billion in 2027.