The music industry in China sees growth of 7.8 percent year-on-year in 2017 compared to the same period in 2016. In fact, the value of profits exceeded 325 billion yuan (USD49 billion), according to an industry report.
The report, compiled by the Chinese music industry committee Audio-Video and Digital Publishing Association, includes recordings, shows, digital music, copyright business, books, musical instruments, training and sound equipment. Seen as a new growth engine for the industry, the digital music business reached nearly 53 billion yuan, up 6.2 percent.
Quoting Xinhua, Tuesday 7 November 2017, the value of digital music available on PCs or mobile devices jumped nearly 40 percent, reaching 14.3 billion yuan, thanks to the growth of users who pay quickly. The number of online music users who pay more than doubled compared to 2012.
In May, the central government noted the development of the music industry as a major cultural project in the work plan for cultural development and reform between 2016 and 2020. The Chinese government continues to try to spur all economic machinery so that growth can be maximized in the future.
The internet industry in China sees double-digit investment growth year on year in the third quarter. Investment in this industry reached USD 6 billion in the third quarter of 2017 or increased by 22.2 percent from the previous year. you can visit for more : https://lagump3.fun/search/china-music-industry
Despite the increase, according to a report released by the Chinese Academy of Information and Communication Technology, the quarter-on-quarter number decreased by 55.6 percent due to the lack of large investment cases.