Untapped potential in China’s music market

Global Business

Experts say China’s music market has enormous untapped potential especially in this digital age of 650 million Internet users.

A recent report shows 72 percent of China’s population listens to music regularly. 66 percent of music listeners use a streaming service in a typical week. The rate is even higher for more affluent consumers. 

And they’re very enthusiastic when it comes to live events. 57 percent attend live music events compared to 51 percent in the U.S.

The Chinese music industry grossed $170 million in 2015. China digital music revenues climbed 63.8 percent in 2015.

How has the Chinese mindset regarding paying for music and music consumption changed over the past 5 years?  For answers CCTV’s Michelle Makori talked with Eric de Fontenay, the founder and President of MusicDish China.  Twitter: @MusicDish @MusicDish_China