PwC: Compound annual growth rate of 2.26% for the Hong Kong entertainment and media industry from 2024 to 2029.

On August 13, PwC released the "Global Entertainment and Media Industry Outlook 2025-2029: Hong Kong Summary", indicating that the entertainment and media industry in Hong Kong will grow steadily, with the market size expected to reach $15 billion by 2029, with a compound annual growth rate of 2.26% from 2024 to 2029. In the midst of uncertainty in global trade prospects and changing consumer preferences, Hong Kong companies are adjusting their strategies to align with the local development priorities in Hong Kong and drive industry stability. Data shows that in the next five years, the entertainment and media industry in Hong Kong will continue to shift from "consumer payments" to "advertising expenditures", consistent with global trends. It is expected that by 2029, advertising expenditures will account for nearly one-third of the overall industry, up from about 20% in 2020. Queena Quek, Managing Partner of Media Industry in Mainland China and Hong Kong at PwC, stated that Hong Kong entertainment and media companies are accelerating their shift towards a revenue model that combines advertising and subscriptions, marking a significant transformation in the industry's revenue strategy. As digital platforms and streaming services continue to surpass traditional media, consumer demand for personalized and immersive experiences is increasing, prompting companies to invest resources in creating quality content and services to attract and stimulate consumption. Therefore, local media groups in Hong Kong are restructuring their strategies, shifting their focus from one-time transactions to sustainable digital revenue sources. By providing engaging user experiences, they are laying the foundation for long-term growth in the digital era. Over the next 5 years, the core areas driving growth in the entertainment and media industry in Hong Kong will be internet advertising and OTT streaming video, with both expected to continue growing at compound annual growth rates of 7.4% and 4.6% respectively until 2029.