In 2024, China’s Video Entertainment market revenue declined by 4% to RMB202 billion, largely due to a 23% drop in theatrical revenues. Other segments remained stable or recorded modest growth.
Pay-TV, the largest segment, was near flat in 2024 and is expected to grow marginally over the outlook period, supported by continued IPTV uptake and pricing adjustments.
SVoD remains the second-largest segment, though its growth is increasingly constrained by market maturity, the availability of content via ad-funded models, and strong competition from short-video platforms. While the theatrical segment is expected to rebound in 2025, its longer-term forecast has been revised down in line with global trends.
Digital Transactional, though small in scale, is the most dynamic segment, driven by Premium rental offerings led by major streaming platforms.