China's media revenue climbs, driven by surge in micro-dramas, online content

BEIJING - China's broadcasting and online audiovisual industry posted strong growth in 2024, fueled by a boom in micro-dramas and a steady rise in digital media consumption, according to an official report released Friday.

The sector generated 1.29 trillion yuan ($178 billion) in revenue, a 5.27 percent increase from the previous year, the National Radio and Television Administration announced in the report.

A notable highlight was the online content segment, including paid subscriptions and program copyrights, which brought in 183.1 billion yuan, up 34.6 percent year-on-year.

Micro-dramas, a fast-growing format tailored for mobile viewing, emerged as a potent engine for both innovation and profits. Revenues from short videos and livestreaming platforms remained strong, reaching 451.5 billion yuan, a 5.43 percent increase.

China's online entertainment sector continued its rapid growth in 2024. According to official data, authorities granted distribution licenses to 219 major online films, 166 web series, 659 animated productions, and 602 micro-dramas over the course of the year.

Meanwhile, Chinese internet users spent more than three hours a day on average watching online audiovisual content, reflecting the deepening role of digital platforms in everyday cultural consumption.