China reports a 7.8-percent growth in music industry

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According to an industry report released on Saturday, China's music industry saw year-on-year growth of 7.8 percent in its output value in 2016, exceeding 325 billion yuan (49 billion US dollars).

The report, compiled by the music industry committee of China Audio-Video and Digital Publishing Association, includes performances of records, shows, digital music, copyright business, books, musical instruments, training and sound equipment.

A photo of variety show Rap of China /Handout photo

Seen as a new growth engine for the industry, the digital music business achieved a value of nearly 53 billion yuan, up 6.2 percent year-on-year.

The value of digital music available on download and streaming devices surged by nearly 40 percent, hitting 14.3 billion yuan, thanks to rapid growth of paying users.

A concert of China's folk music /CNS Photo‍

The number of paying users of online music has more than doubled compared with 2012.

In May, the central government listed the development of the music industry as a major cultural project in a work plan for cultural development and reforms between 2016 and 2020.

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Source(s): Xinhua News Agency