China, India media sectors to grow faster

China and India's media and entertainment industries are projected to expand at more than twice the pace of developed countries in the next five years as rising income boosts spending, PricewaterhouseCoopers LLP said.

Growth will be 12 percent a year through 2016 in China, and 14 percent in India, PwC predicted in a report this week.

Expansion will be 5.2 percent in the United States and 3.4 percent in France, PwC said, forecasting slower growth rates for the United Kingdom, Japan and Germany.

China is projected to generate $78 billion of consumer spending over the next five years in the industry, including movies, TV shows and newspapers, compared with India's $20 billion, PwC said.

Agencies - China Daily