Qiu Liting, media industry leader in mainland China and Hong Kong, believes that in the future, generative artificial intelligence is expected to improve efficiency and productivity while promoting new ways of doing business across industries and industries, and reshaping business models will provide enterprises with Bring growth opportunities. In addition, the advertising and gaming industries, high-growth regions and market segments will also be major areas of opportunity within the industry.
The report points out that in terms of Internet advertising, the Chinese market will continue to maintain steady growth in 2024. Thanks to the rapid development of Internet technology and the maturation of the industrial chain, new forms of short video advertising industry are emerging one after another; the data calculation of short video social platforms makes advertising more accurate, promoting the rapid growth of Internet advertising. The extensive application of artificial intelligence and big data technology will also further optimize advertising delivery and improve user experience and advertising effects. With the popularization of digital lifestyle, China's mobile network penetration rate will reach more than 90%, which will have a positive impact on the growth of China's Internet advertising. By 2028, the revenue share of video Internet advertising will increase to 27%. Its compound annual growth rate over the next five years is expected to reach 12.9%. In terms of electronic games and e-sports, the report shows that as of the end of 2023, the total number of electronic game players in China will reach 668 million.
With the support of cultural industry policies and the continuous improvement of the industry's independent research and development capabilities, the competitiveness of Chinese game products in overseas markets has improved and the potential for expansion is huge. It is worth mentioning that the first domestic 3A game "Black Myth: Wukong" developed by Game Science this year has received a lot of attention and praise at home and abroad once it was released. Cai Zhifeng, managing partner of PwC's media industry in Mainland China, believes that with the continued fierce market competition and changing player needs, "multi-end development" of high-quality games has gradually become a trend, and the importance of self-created IP for games has become more prominent, focusing on high-end Quality long-term development and operation will become a development issue that current game companies must consider carefully.
In addition, the support and guidance of local cultural industry policies will accelerate the adjustment and change of the domestic game industry layout. The organic combination of cities, regions and the game industry will form more new highlands for industrial agglomeration and development, and promote the agglomeration and differentiation of Chinese game companies. and characteristic multi-dimensional development. In terms of movies, the report shows that as the domestic consumer market continues to recover steadily, movies, as an important offline consumption scene, are showing a certain recovery trend. In the first quarter of 2024, the box office of the domestic movie market reached 14.36 billion yuan, a year-on-year increase of 3.14%, with total attendance was 364 million, a year-on-year increase of 8.15%, and the overall continued steady recovery.
