China Reports 4.3% Revenue Rise for Cultural Enterprises

China News Service reported that data from the National Bureau of Statistics showed nationwide cultural and related industry enterprises above designated size recorded a year-on-year revenue increase of 4.3% across the first three quarters. Across core cultural fields, revenue increased by 5.1% year on year. Within these fields, cultural investment and operation, creative design services, and news information services achieved rapid revenue expansions of 11.7%, 8.8%, and 7.3%, respectively. In cultural service industries, revenue expanded by 7.3% year on year, outpacing enterprises above designated size by 3 percentage points. Cultural services represented 60.7% of the total revenue of enterprises above designated size, an increase of 1.7 percentage points year on year, while cultural investment and asset management grew by 23.5% and cultural activity services grew by 15.3%. Specific sub-sectors posted double-digit revenue expansions during the period, led by digital publishing at 37.5%, copyright and cultural software services at 29.3%, internet advertising services at 14.6%, smart unmanned aerial vehicle manufacturing for entertainment at 13.2%, and wearable smart cultural device manufacturing at 12%.

Sixteen sub-sectors characterized by new business formats experienced revenue growth of 8.9% year on year, outpacing cultural enterprises above designated size by 4.6 percentage points. These emerging formats served as a leading driver, contributing 98.9% of the overall revenue growth achieved by cultural enterprises above designated size.