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Media revenue to reach $79.14b in 2008

(Xinhua)
Updated: 2008-04-04 10:04

Revenue of the Chinese media industry is expected to increase 13.1 percent to 554 billion yuan ($79.14 billion) in 2008, said a report released by the Chinese Academy of Social Sciences on Wednesday.

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The figure was 481.1 billion yuan in 2007, up 13.6 percent year on year, according to the report, which was based on data collected up to February.

Book publication revenue, which continued to top the revenue list with more than 110 billion yuan turnover for three consecutive years since 2005, was declining because of the introduction of new media. So are other traditional media such as television advertising and newspapers.

Mobile and online media saw rapid growth, earning a revenue of 105.3 billion yuan and 29.7 billion yuan respectively in 2007. The proportion of new media, especially mobile televisions and mobile phone videos, grew to 28.07 percent of the industry. The report did not provide historical figures as a comparison.

The mobile media market would reach 124.9 billion yuan in 2008, said the report.