The growth of streaming services has been causing upheaval in the film and television industries. Photo credit – Pixabay
Streaming growing fastest in China
Chinese spending on streaming film and television is growing faster than anywhere else in the world.
That’s according to specialist publication Screen Daily, who report that by 2022, it will reach over $8 billion per annum.
To put that figure in context, it’s forecast to be three times higher than the next largest country by that date.
The statistics also suggest that current spending trends on streaming media in China are set to grow very rapidly – at present, Chinese spend only $3 billion per annum on such services.
The growth of streaming services has been causing upheaval in the film, music and television industries worldwide, and poses a challenge to traditional broadcasters.
In the United Kingdom, for example, it was reported yesterday that the so-called ‘netflix effect’ of consumers switching to streaming services had led to an unprecedented situation.
That’s because there are now more subscribers to online platforms than to traditional TV providers – a situation that’s certain to become more common internationally in the future.