China’s digital culture sector set for stronger growth in 5G era: report
CHINA’S digital culture sector is expected to see robust expansion as new-generation technologies become powerful tools for creating and promoting cultural products and services, an industrial report showed.
The commercial use of the 5G wireless network and applications of big data, artificial intelligence, blockchain and other state-of-the-art technologies are expected to bring significant changes to the digital culture sector, according to the Digital Culture Industry Trends Report released on the weekend by the Development Research Center of the State Council, Chinese Academy of Social Sciences (CASS), and Tencent Research.
China’s culture sector has been expanding steadily in recent years. The total revenue of the culture sector and related businesses hit 4.06 trillion yuan (US$588 billion) in the first half of the year, up 7.9 percent year on year, data from the National Bureau of Statistics showed.
Among the sector, Internet advertising, Internet-based entertainment, digital publications, wearable devices and virtual reality products posted robust first-half revenue expansion of above 20 percent.
The report showed that while the content-based consumer Internet remains the focus of digital culture providers, many market players are expanding into other industries such as tourism and sports, evidenced by the fast growth of smart tourism and e-sports.
“The integration with other industries will offer important growth for the digital culture sector. The market might be worth over 80 trillion yuan,” said Tencent vice president Cheng Wu.