While the Chinese equities market tests the emotions of investors it looks like other forms of entertainment may be worth investing in for the long term. The latest consumer and advertising spending report released by PricewaterhouseCoopers showed that expenditure in China's media and entertainment sector will rise to USD2.35bn in 2019 from USD1.43bn in 2014.
According to the five-year forecast contained in the PricewaterhouseCoopers’ Global Entertainment and Media Outlook report, the media and entertainment sector in China will see a 10.5% yearly growth in expenditure and income between 2015 and 2019.
The growth rate is higher than the global average level.
All of which must please China’s richest man Wang Jianlin who is already China’s largest private sector cinema operator with over 150 multiplexes in 80 cities.
The tycoon and also owns North American cinema chain AMC Entertainment after a 202 takeover and recently acquired the Hoyts chain of cinemas and entertainment outlets in Australia and New Zealand.
