Beijing: The Chinese media has released its 2024 annual report, detailing the industry’s performance and future outlook. The comprehensive 64-page report provides insights into various aspects such as revenue, workforce, and technological integration within the sector.
According to Lao News Agency, the report, titled “Development of China’s News Media, 2024,” was compiled by the All-China Journalists Association (ACJA) and made available on December 30, 2024. It reveals that the media sector experienced significant economic growth, with revenue increasing by 8.31% to reach RMB3.15 trillion, approximately US$500 billion. The report also highlighted that China’s internet consumption reached 1.1 billion people, indicating a national internet penetration rate of 78%.
Technological advancements have played a crucial role in this growth, as the report notes the influence of generative AI on content production and journalism. The Chinese media industry is undergoing a transformation through digital and intelligent technologies, becoming more data-driven and platform-based.
The report further emphasizes the impact of the internet on media practices, with various media leveraging digital platforms to enhance quality and efficiency. By June 2024, China had nearly 1.1 billion internet users and an internet penetration rate of 78.0%. The country also had 3,606 internet news information service units providing a wide range of licensed services.
In the realm of traditional media, the report states that Chinese newspapers printed 26.01 billion copies in 2023, with a total subscription value of 35.57 billion yuan. The report also highlights the production of radio and television content, with numerous TV dramas, online movies, and documentaries released in 2023.
The quality of service in television has improved, offering more transparent and simplified charging processes. The digital drive has significantly benefited the Chinese media, with total industry revenue reaching 3.15 trillion yuan in 2023, marking an 8.38% year-on-year growth.
Revenue for newspapers was RMB61.66 billion in 2023, with advertising, circulation, and new media operations contributing to this figure. Despite shifts in revenue streams, the newspaper industry saw a 9.4% increase in total profit. Meanwhile, the national radio and television broadcast industry’s revenue grew by 13.74% year-on-year, with advertising revenue also seeing an increase.
Internationally, the ACJA has promoted exchanges among news media professionals through forums and joint activities. The report also highlights the rapid development of generative AI in China, with projections for significant market growth in this area.
Despite the technological advancements, the report underscores the importance of human capacity growth within the industry. The newspaper publishing workforce saw a slight increase in 2023, with a growing number of highly educated and digital talent dominating the sector.