China broadcasting, film industry revenues hit $69 billion

BEIJING: China's radio, film and television revenues fetched USD 69.1 billion last year, including nearly USD 5 billion in box office collections, an official report here has said.

The revenue increased 13.16 per cent to 422.63 billion yuan (about USD 69.1 billion) in 2014, the annual report issued by the State General Administration of Press, Publication, Radio, Film and Television said.

In 2014, the revenue of the online streaming industry reached 37.84 billion yuan, up 48.8 per cent year-on-year, and 604 domestic entities provided online television programmes, it said.

As China promotes its "Internet Plus" strategy, first presented by Premier Li Keqiang in March this year, the industry has explored diversified business models through new media, including online streaming of television programmes, state-run Xinhua news agency reported.

Box office revenues hit 29.64 billion yuan (USD 4.94 billion) last year, up 36.15 per cent from the previous year. Domestic film productions grabbed 16.16 billion yuan, 54.51 per cent of the total market share.

Some of the Indian films have also done well. The Chinese version of Aamir Khan-starrer 'PK' has fetched 100 million yuan (about USD 16.6 million).

The report said that private enterprises accounted for 85 per cent of the total radio, TV and film production companies.